Research On The Difference Of Different Natural Resources’ Influence On Economic Growth

Since the reform and opening up, China’s economic construction has made greatachievements. But China’s economic growth is based on a large number of inputs, atthe expense of resources and the environment. And the relationship of resourcesbetween supply and demand is increasingly tense in our country, scarcity of resourcesrestricts the further growth of China’s economy. How to make full use of resourceshas become the focus of attention of the academic community at home and abroad.According to existing research, this paper is based on that natural resources aredivided into exhaustible resources and renewable resources, exhaustible resources aredivided into coal, oil as the representatives of the traditional exhaustible resources andnatural gas as the representative of the higher mining costs. Comparing thedifferences of economic growth path at different stages of economic growth and therestriction of various resources will be the key for China to improve the efficiency ofresource use. While existing studies have ignored the distinctive role thatclassification of resources has played at different stages of economic growth. Tosolve the problem, this paper is based on the endogenous growth theory in theWestern economics, combined with the theory of sustained economic growth in theresource and environmental economics, further reveals the intrinsic relationshipbetween natural resources and economic growth. This paper can also be able toprovide a theoretical support for China’s sustained economic growth.This paper is divided into five chapters. The first chapter introduces the backdropand meaning of this research, the article’s logical structure and research methods, andrecalls the research of the classical growth theory, neoclassical growth theory and newgrowth theory about this issue; the second chapter defines many concepts such asnatural resources, economic growth, driving effect and restriction effect; the thirdchapter analyzes "driving" and "restrition" double effects of resources on economicgrowth from a theoretical point of view, and analyzes the stages of economic growthunder different resource constraints, to make the economy on a steady growth path,the end of this chapter explores the possibility of substitution among various resources;the fourth chapter introduces the resource elements into the production function,makes a derivation and empirical analysis of the building endogenous economicgrowth model; the fifth chapter summarizes the conclusions of this paper, reviews theinnovation and the need for further study, and gives three policy recommendations like resources exploitation and utilization of "appropriate locations" and "appropriatetime", reducing the cost of natural resource extraction through technological progress,improving the natural resource utilization efficiency through institutional innovation.Based on the full analysis, we can see that:(1) With the increasing input of coal,oil and natural gas resources, the corresponding economic growth process arepresented inverted "U", inverted "U" and "U"-shaped curve;(2) On the whole, wefailed to find sufficient evidence of the driving effect that renewable resources on theeconomic growth, but relatively speaking, in more developed regions negativebinding effect is relatively weaker;(3) At different stages of economic growth, theeconomic growth depends on coal, oil as the representatives of the traditionalexhaustible resources to natural gas as the representative of the higher mining costs,and finally transits to renewable resources. In a word, conversion to natural gas fromcoal, oil, and renewable resources gradually to replace the exhaustible resources, isthe only way for China’s sustained economic growth.