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Pang, Liwei; Liu, Linlin; Zhou, Xi; Hafeez, Muhammad; Ullah, Sana; Sohail, Muhammad Tayyab
Energy strategy reviews, July 2024, Letnik: 54Journal Article
The continuous supply of reliable and affordable energy sources is crucial for driving a nation's economic activities. The phenomenon of continuous energy supply at affordable prices is called energy security. To date, more than two-thirds of the global energy demand is met by non-renewable energy derived from natural resources. The empirical connection between natural resource depletion and energy security risk remains unexplored in the prior literature. Thus, this study analyzes the empirical linkage between natural resource depletion and energy security risk by applying the CS-ARDL and PMG-ARDL models. As per our findings, natural resource depletion increases long-term energy security risks Globally and in Asia, America, Europe, and Africa. In short run, the role of natural resource depletion is mostly insignificant in energy security risk. In contrast, the GDP, financial development, trade openness, and technological development help reduce long-run energy security risk in all regions except Africa. In the short run, only GDP and trade openness help reduce energy security risks in most regions. Therefore, policymakers should focus on efficiently utilizing natural resources to mitigate energy security risks. •Research explores the link between natural resource depletion and energy security risks.•CS-ARDL and PMG-ARDL models have been used for empirical analysis.•Findings indicate that global and regional energy security risks increase due to natural resource depletion.•Policymakers should prioritize efficient natural resource use to mitigate energy security risks.
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JCR | SNIP | JCR | SNIP | JCR | SNIP | JCR | SNIP |
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Povezave do osebnih bibliografij avtorjev | Povezave do podatkov o raziskovalcih v sistemu SICRIS |
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Vir: Osebne bibliografije
in: SICRIS
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