Akademik Veri Yönetim Sistemi
Afrika Matematika, cilt.36, sa.4, 2025 (ESCI, Scopus)
This research presents an endogenous growth model driven by natural resource capital, where natural resource capital can be allocated across two sectors, considering the impact of resource usage on the production process for economic growth: the production of final consumption goods and the creation of technological capital. In our model, the endogenous variable is technological progress, which results from the transfer of natural resource capital to the technology sector of the economy. This study demonstrates that the optimal path of natural resource use, which maximizes benefits and minimizes costs, is crucial. Suppose an economy has abundant natural resources and focuses on resource-based production, in that case, production factors tend to shift toward natural resource sectors, potentially reducing economic growth. However, investing in the wealth of natural resources into technological development and innovation can foster economic growth. We also show that the growth of an economy is driven by the accumulation of natural resources over time. The results indicate that a higher ratio of natural capital to technological capital has a positive influence on technological production. Natural capital supports technological development and innovation, while technological capital enhances the development of natural resources. Additionally, the expropriation of natural resources in output production is unaffected by the ratio of per capita consumption to physical capital, indicating that natural resource expropriation does not effect economic growth.