The Impact of Natural Resource Endowments on Regional Economic Resilience: The Effect of Government Finances and Regional Heterogeneity

Economic resilience can help promote a region’s economic stability, maintain development, and ensure an advantageous international competitive position. This study constructs an econometric model of 285 Chinese cities using panel data spanning 2003–2020 to analyze the effect of natural resource endowments on regional economic resilience, with government fiscal behavior as a potential mechanism. The results indicate that natural resource endowments contribute to regional economic resilience, but its impact is influenced by regional characteristics and government fiscal behavior. Additionally, among the eastern and western regions, medium-sized cities, and resource-based cities, natural resource endowments significantly influence regional economic resilience. Finally, government fiscal expenditures and revenues have a threshold effect on the correlation between natural resource endowments and a region’s economic resilience. The results suggest that government should formulate reasonable policies for natural resource exploitation and development, increase support for small- and medium-sized cities, optimize its fiscal behavior, strengthen regional cooperation, and promote innovative development.