The Nexus between Economic Growth, Natural Resource Depletion and Foreign Direct Investment

The overall economic performance is summarised in the growth. It occurs when resources are combined technically an effective way. While advanced countries have no reliance on natural resources, they experience steady growth compared to resource-abundant countries. Caspian Sea basin (Azerbaijan, Iran, Kazakhstan, Russia, and Turkmenistan) Central Asia states (Kyrgyz Republic, Tajikistan, Uzbekistan) own considerable mineral ecological resources. This paper aims examine relationship between resource depletion region during 1997–2019. Due abundance of this trades fossil fuels minerals with other blocs. Hence, foreign direct investment added into regression model order account for openness. In addition, share industry value gross domestic product included embody industrialisation impact Finally, tertiary enrolment entered measure effect human capital After specifying econometric model, variables under study were tested unit root. difference integration among variables, panel fully modified least squares method was used estimate model. estimation results indicate significant positive effects depletion, investment, These findings imply that contributes much greater than enrolment. Thus, curse not confirmed across examined