. ***, 27) (-2.91) ) ( -1.12

*. , *. , and *. , refer to the 10%, 5% and 1% significance levels, respectively. Columns 2 to 4 present the results of FE-IV by considering NRD as endogenous, while column 5 presents the results of FE-IV by considering the variable NRA as endogenous. NRD and NRA represent natural resource dependence and natural resource abundance variables

D. Acemoglu and S. Johnson, Unbundling institutions, Journal of Political Economy, vol.113, issue.5, pp.949-995, 2005.

D. Acemoglu and F. Zilibotti, Was Prometheus unbound by chance? Risk, diversification, and growth, Journal of Political Economy, vol.105, issue.4, pp.709-751, 1997.

D. Acemoglu, S. Johnson, J. Robinson, and Y. Thaicharoen, Institutional causes, macroeconomic symptoms: volatility, crises and growth, Journal of Monetary Economics, vol.50, issue.1, pp.49-123, 2003.

R. Marchi-adani and R. Ricciuti, The resource curse, rule of law and accountability in African countries: a dynamic panel analys, Economics Bulletin, vol.34, issue.3, pp.1905-1916, 2014.

P. Kofi, A. , and S. Adams, Energy savings in Nigeria. Is there a way of escape from energy inefficiency?, Renewable and Sustainable Energy Reviews, vol.81, pp.2421-2430, 2018.

P. Aghion, G. Angeletos, A. Banerjee, and K. Manova, Volatility and growth: Credit constraints and productivity-enhancing investment, 2005.

J. Aizenman and B. Pinto, Managing volatility and crises: a practitioner's guide overview, 2004.

A. Alesina and R. Perotti, Income distribution, political instability, and investment, European Economic Review, vol.40, issue.6, pp.1203-1228, 1996.

M. Alexeev and R. Conrad, The elusive curse of oil, The Review of Economics and Statistics, vol.91, issue.3, pp.586-598, 2009.

, Hunt Allcott and Sendhil Mullainathan. Behavior and Energy Policy. Science, vol.327, issue.5970, pp.1204-1205, 2010.

C. Antonin, Après le choc pétrolier d'octobre 1973, l'économie mondialeà l'épreuve du pétrole cher. Revue internationale et stratégique, pp.139-149, 2013.

M. Arellano and S. Bond, Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations, The Review of Economic Studies, vol.58, issue.2, pp.277-297, 1991.

R. Arezki and F. Van-der-ploeg, Trade policies, institutions and the natural resource curse, Applied Economics Letters, vol.17, issue.15, pp.1443-1451, 2010.

R. Arezki, T. Fetzer, and F. Pisch, On the comparative advantage of US manufacturing: evidence from the shale gas revolution, Journal of International Economics, vol.107, pp.34-59, 2017.

K. Arrow, B. Bolin, R. Costanza, P. Dasgupta, C. Folke et al., Economic growth, carrying capacity, and the environment, Ecological economics, vol.15, issue.2, pp.91-95, 1995.

K. Aruga, The US shale gas revolution and its effect on international gas markets, Journal of Unconventional Oil and Gas Resources, vol.14, pp.1-5, 2016.

F. Asche, P. Osmundsen, and R. Tveterås, European market integration for gas? Volume flexibility and political risk, Energy Economics, vol.24, issue.3, pp.249-265, 2002.

F. Asche, P. Osmundsen, and M. Sandsmark, The UK market for natural gas, oil and electricity: are the prices decoupled?, The Energy Journal, pp.27-40, 2006.

K. Aunan and X. Pan, Exposure-response functions for health effects of ambient air pollution applicable for China-a meta-analysis, Science of the Total Environment, vol.329, issue.1-3, pp.3-16, 2004.

M. Bacchetta, . Beverelli, . Hancock, G. Keck, . Nayyar et al., Trade in Natural Resources. World Trade Organization, 2010.

D. Balsalobre-lorente, M. Shahbaz, D. Roubaud, and S. Farhani, How economic growth, renewable electricity and natural resources contribute to CO2 emissions?, Energy Policy, vol.113, pp.356-367, 2018.

J. Robert and . Barro, Determinants of economic growth: A cross-country empirical study, 1996.

J. Robert, J. Barro, and . Lee, A new data set of educational attainment in the world, Journal of Development Economics, vol.104, pp.184-198, 1950.

M. Bazilian, L. Brandt, . Billman, . Heath, M. Logan et al., Ensuring benefits from North American shale gas development: Towards a research agenda, Journal of Unconventional Oil and Gas Resources, vol.7, pp.71-74, 2014.

T. Beck, A. Demirgüç-kunt, and R. Levine, A new database on the structure and development of the financial sector, The World Bank Economic Review, vol.14, issue.3, pp.597-605, 2000.

T. Beck, A. Demirgüç-kunt, and R. Levine, Law, endowments, and finance, Journal of Financial Economics, vol.70, issue.2, pp.137-181, 2003.

W. Behringer, A cultural history of climate, Polity, 2010.

S. Mehdi-ben-jebli, I. Ben-youssef, and . Ozturk, Testing environmental Kuznets curve hypothesis: The role of renewable and non-renewable energy consumption and trade in OECD countries, Ecological Indicators, vol.60, pp.824-831, 2016.

A. Benfield, URL: thoughtleadership. aonbenfield. com/Documents/20150113 ab if annual climate catastrophe re port. pdf. Last accessed, 2014.

K. Berry, A. James, B. Smith, and B. Watson, Geology, and Regional Economic Development, 2019.

G. Bertola and R. J. Caballero, Irreversibility and aggregate investment, The Review of Economic Studies, vol.61, issue.2, pp.223-246, 1994.

S. Bhattacharyya and R. Hodler, Natural resources, democracy and corruption, European Economic Review, vol.54, issue.4, pp.608-621, 2010.

M. Bleaney and H. Halland, The resource curse and fiscal policy volatility, 2009.

M. Braun and B. Larrain, Finance and the business cycle: international, inter-industry evidence, The Journal of Finance, vol.60, issue.3, pp.1097-1128, 2005.

A. William, M. Brock, and . Taylor, Economic growth and the environment: a review of theory and empirics, Handbook of Economic Growth, vol.1, pp.127-153, 2005.

P. Jason and . Brown, Production of natural gas from shale in local economies: a resource blessing or curse? Economic Review-Federal Reserve Bank of Kansas City, p.5, 2014.

N. Christa, . Brunnschweiler, H. Erwin, and . Bulte, The resource curse revisited and revised: A tale of paradoxes and red herrings, Journal of Environmental Economics and Management, vol.55, issue.3, pp.248-264, 2008.

M. Bruno and J. Sachs, Energy and resource allocation: a dynamic model of the "Dutch Disease, The Review of Economic Studies, vol.49, issue.5, pp.845-859, 1982.

O. Canuto and M. Cavallari, Natural Capital and the Resource curse, 2012.

M. Caporin and F. Fontini, The long-run oil-natural gas price relationship and the shale gas revolution, Energy Economics, vol.64, pp.511-519, 2017.

F. Caselli, Accounting for cross-country income differences, Handbook of Economic Growth, vol.1, pp.679-741, 2005.

L. Catão and S. Kapur, Volatility and the debt-intolerance paradox, IMF Staff Papers, vol.53, issue.2, pp.195-218, 2006.

K. Tiago-v-cavalcanti, M. Mohaddes, and . Raissi, Commodity price volatility and the sources of growth, Journal of Applied Econometrics, vol.30, issue.6, pp.857-873, 2015.

G. Stephen, E. Cecchetti, and . Kharroubi, Reassessing the impact of finance on growth, 2012.

O. Celasun, M. Bella, T. Mahedy, and C. Papageorgiou, The US Manufacturing Recovery: Uptick or Renaissance? Number 14-28, 2014.

R. Cherif, The dutch disease and the technological gap, Journal of Development Economics, vol.101, pp.248-255, 2013.

D. Coady, I. Parry, L. Sears, and B. Shang, How large are global fossil fuel subsidies? World Development, vol.91, pp.11-27, 2017.

P. Collier and A. Hoeffler, Greed and grievance in civil war, Oxford Economic Papers, vol.56, issue.4, pp.563-595, 2004.

P. Collier and A. Hoeffler, Testing the neocon agenda: democracy in resource-rich societies, European Economic Review, vol.53, issue.3, pp.293-308, 2009.

R. Brian, M. Copeland, and . Taylor, Trade, growth, and the environment, Journal of Economic Literature, vol.42, issue.1, pp.7-71, 2004.

M. Corden and J. Peter-neary, Booming sector and de-industrialisation in a small open economy, The Economic Journal, vol.92, issue.368, pp.825-848, 1982.

. Warner-max-corden, Booming sector and dutch disease economics: survey and consolidation, Oxford Economic Papers, vol.36, issue.3, pp.359-380, 1984.

S. Cornot-gandolphe, The Impact of the Development of Shale Gas in the United States on Europe's Petrochemical Industries, 2013.

M. Brendan, . Cosgrove, . Daniel-r-lafave, T. M. Sahan, . Dissanayake et al., The economic impact of shale gas development: A natural experiment along the New York/Pennsylvania border, Agricultural and Resource Economics Review, vol.44, issue.2, pp.20-39, 2015.

M. Anca, K. K. Cotet, and . Tsui, Oil, growth, and health: what does the cross-country evidence really show?, The Scandinavian Journal of Economics, vol.115, issue.4, pp.1107-1137, 2013.

E. Dabla, -. Norris, and N. Srivisal, Revisiting the Link Between Finance and Macroeconomic Volatility, 2013.

S. Dasgupta, B. Laplante, H. Wang, and D. Wheeler, Confronting the environmental Kuznets curve, Journal of Economic Perspectives, vol.16, issue.1, pp.147-168, 2002.

A. Graham, J. E. Davis, and . Tilton, The resource curse, Natural Resources Forum, vol.29, pp.233-242, 2005.

. Sander-m-de-bruyn, Explaining the environmental Kuznets curve: structural change and international agreements in reducing sulphur emissions, Environment and Development Economics, vol.2, issue.4, pp.485-503, 1997.

. Sander-m-de-bruyn, C. Jeroen, J. B. Van-den-bergh, and . Opschoor, Economic growth and emissions: reconsidering the empirical basis of environmental Kuznets curves, Ecological Economics, vol.25, issue.2, pp.161-175, 1998.

V. Rafael-e-de-hoyos and . Sarafidis, Testing for cross-sectional dependence in panel-data models, The Stata Journal, vol.6, issue.4, pp.482-496, 2006.

A. Demirgüç, -. Kunt, and H. Huizinga, Bank activity and funding strategies: The impact on risk and returns, Journal of Financial Economics, vol.98, issue.3, pp.626-650, 2010.

A. Cevdet, . Denizer, A. Murat-f-iyigun, and . Owen, Finance and macroeconomic volatility. Contributions in Macroeconomics, vol.2, 2002.

S. Dietz, E. Neumayer, and I. Soysa, Corruption, the resource curse and genuine saving, Environment and Development Economics, vol.12, issue.1, pp.33-53, 2007.

T. Dick-van-dijk, P. H. Teräsvirta, and . Franses, Smooth transition autoregressive models-a survey of recent developments, Econometric Reviews, vol.21, issue.1, pp.1-47, 2002.

N. Ding, C. Barry, and . Field, Natural resource abundance and economic growths, Land Economics, vol.81, issue.4, pp.496-502, 2005.

C. John, . Driscoll, C. Aart, and . Kraay, Consistent covariance matrix estimation with spatially dependent panel data, Review of Economics and Statistics, vol.80, issue.4, pp.549-560, 1998.

W. Easterly, R. Islam, and J. E. Stiglitz, Shaken and stirred: explaining growth volatility, Annual World Bank conference on development economics, pp.191-211, 2000.

, Annual Energy Outlook 2016 Early Release: Annotated Summary of Two Cases, 2016.

A. El-anshasy, K. Mohaddes, and J. Nugent, Oil, volatility and institutions: cross-country evidence from major oil producers. Globalization and Monetary Policy Institute Working Paper, 2017.

N. Emtage, J. Herbohn, and S. Harrison, Landholder profiling and typologies for natural resource-management policy and program support: potential and constraints, Environmental Management, vol.40, issue.3, pp.481-492, 2007.

P. Erd?s, Have oil and gas prices got separated? Energy Policy, vol.49, pp.707-718, 2012.

K. Hadi-salehi-esfahani, M. Mohaddes, and . Hashem-pesaran, An empirical growth model for major oil exporters, Journal of Applied Econometrics, vol.29, issue.1, pp.1-21, 2014.

C. Y-hossein-farzin and . Bond, Democracy and environmental quality, Journal of Development Economics, vol.81, issue.1, pp.213-235, 2006.

T. Feng, L. Sun, and Y. Zhang, The relationship between energy consumption structure, economic structure and energy intensity in China, Energy Policy, vol.37, issue.12, pp.5475-5483, 2009.

J. Feyrer, E. T. Mansur, and B. Sacerdote, Geographic dispersion of economic shocks: Evidence from the fracking revolution, American Economic Review, vol.107, issue.4, pp.1313-1347, 2017.

J. Fouquau, C. Hurlin, and I. Rabaud, The Feldstein-Horioka puzzle: a panel smooth transition regression approach, Economic Modelling, vol.25, issue.2, pp.284-299, 2008.
URL : https://hal.archives-ouvertes.fr/halshs-00156688

A. Jeffrey and . Frankel, The natural resource curse: a survey, 2010.

G. Per, J. Fredriksson, and . Svensson, Political instability, corruption and policy formation: the case of environmental policy, Journal of Public Economics, vol.87, issue.7-8, pp.1383-1405, 2003.

W. Edward and . Frees, Assessing cross-sectional correlation in panel data, Journal of Econometrics, vol.69, issue.2, pp.393-414, 1995.

J. Friedrichs and . Oliver-r-inderwildi, The carbon curse: Are fuel rich countries doomed to high CO2 intensities? Energy Policy, vol.62, pp.1356-1365, 2013.

M. Galeotti, Economic growth and the quality of the environment: taking stock, Environment, Development and Sustainability, vol.9, issue.4, pp.427-454, 2007.

G. Gan, C. Ma, and J. Wu, Data clustering: theory, algorithms, and applications, vol.20, 2007.

, Shale Gas. A renaissance in us manufacturing? PwC Website, 2011.

D. Gaul and K. Platt, Short-term energy outlooksupplement: Us lng imports-the next wave. Energy Information Administration, 2007.

A. Giorgetti, A Discussion on decoupling economic growth from the emissions of carbon dioxide. Environment Waikato Regional Council, 2007.

A. González, T. Teräsvirta, and D. Van-dijk, Panel smooth transition regression model and an application to investment under credit constraints. Unpublished manuscript, 2004.

M. Gene, A. B. Grossman, and . Krueger, Environmental impacts of a north american free trade agreement, 1991.

M. Gene, A. B. Grossman, and . Krueger, Economic growth and the environment, The Quarterly Journal of Economics, vol.110, issue.2, pp.353-377, 1995.

G. Sylviane, K. Jeanneney, and . Kpodar, Financial development, financial instability and poverty, 2005.

D. María, F. Guilló, and . Perez-sebastian, Convergence in a dynamic h eckscher-o hlin model with land, Review of Development Economics, vol.19, issue.3, pp.725-734, 2015.

S. Guttmann and A. Richards, Trade openness: an australian perspective, Australian Economic Papers, vol.45, issue.3, pp.188-203, 2006.

T. Gylfason, Natural resources, education, and economic development, European Economic Review, vol.45, issue.4-6, pp.847-859, 2001.

T. Gylfason, Natural resources and economic growth: From dependence to diversification, Economic liberalization and integration policy, pp.201-231, 2006.

E. Bruce and . Hansen, Threshold effects in non-dynamic panels: Estimation, testing, and inference, Journal of Econometrics, vol.93, issue.2, pp.345-368, 1999.

T. Havranek, R. Horvath, and A. Zeynalov, Natural resources and economic growth: a meta-analysis, World Development, vol.88, pp.134-151, 2016.

H. Hettige, M. Mani, and D. Wheeler, Industrial pollution in economic development: the environmental kuznets curve revisited, Journal of Development Economics, vol.62, issue.2, pp.445-476, 2000.

R. Carter, C. Griffiths-william, and . Guay, Principles of econometrics

R. Hodler, The curse of natural resources in fractionalized countries, European Economic Review, vol.50, issue.6, pp.1367-1386, 2006.

D. Hoechle, Robust standard errors for panel regressions with cross-sectional dependence, The Stata Journal, vol.7, issue.3, pp.281-312, 2007.

D. Holtz-eakin and . Thomas-m-selden, Stoking the fires? CO2 emissions and economic growth, Journal of Public Economics, vol.57, issue.1, pp.85-101, 1995.

T. Houser and S. Mohan, Fueling Up: The economic implications of America's oil and gas boom, 2013.

D. Hu and S. Xu, Opportunity, challenges and policy choices for china on the development of shale gas, Energy Policy, vol.60, pp.21-26, 2013.

D. Hulshof, J. Van-der-maat, and M. Mulder, Market fundamentals, competition and natural-gas prices, Energy Policy, vol.94, pp.480-491, 2016.

M. Humphreys, D. Jeffrey, J. E. Sachs, G. Stiglitz, M. Soros et al., Escaping the resource curse, 2007.

A. Iimi, Escaping from the resource curse: Evidence from botswana and the rest of the world, IMF Staff Papers, vol.54, issue.4, pp.663-699, 2007.

K. S. Im, Y. Hashem-pesaran, and . Shin, Testing for unit roots in heterogeneous panels, Journal of Econometrics, vol.115, issue.1, pp.53-74, 2003.

W. Guido, J. Imbens, and . Wooldridge, Recent developments in the econometrics of program evaluation, Journal of Economic Literature, vol.47, issue.1, pp.5-86, 2009.

N. Jensen and L. Wantchekon, Resource wealth and political regimes in Africa. Comparative Political Studies, vol.37, pp.816-841, 2004.

T. Jobert, F. Karanfil, and A. Tykhonenko, Convergence of per capita carbon dioxide emissions in the eu: legend or reality?, Energy Economics, vol.32, issue.6, pp.1364-1373, 2010.
URL : https://hal.archives-ouvertes.fr/halshs-00721583

F. Johnsson, J. Kjärstad, and J. Rootzén, The threat to climate change mitigation posed by the abundance of fossil fuels, Climate Policy, vol.19, issue.2, pp.258-274, 2019.

O. Joya, Growth and volatility in resource-rich countries: Does diversification help?, Structural Change and Economic Dynamics, vol.35, pp.38-55, 2015.

R. Judson and A. Orphanides, Inflation, volatility and growth, International Finance, vol.2, issue.1, pp.117-138, 1999.

K. Terry-lynn, The paradox of plenty: Oil booms and petro-states, vol.26, 1997.

D. Kaufman, A. Kraay, and M. Mastruzzi, The worldwide governance indicators project: Methodology and analytical issues, vol.5430, 2010.

W. Keller, International technology diffusion, Journal of Economic Literature, vol.42, issue.3, pp.752-782, 2004.

G. Robert, R. King, and . Levine, Finance, entrepreneurship and growth, Journal of Monetary Economics, vol.32, issue.3, pp.513-542, 1993.

. Thomas-c-kinnaman, The economic impact of shale gas extraction: A review of existing studies, Ecological Economics, vol.70, issue.7, pp.1243-1249, 2011.

. Volker-krey, C. Brian, . O'neill, V. Bas-van-ruijven, V. Chaturvedi et al., Urban and rural energy use and carbon dioxide emissions in asia, Energy Economics, vol.34, pp.272-283, 2012.

P. Krugman, The narrow moving band, the Dutch disease, and the competitive consequences of Mrs. Thatcher: Notes on trade in the presence of dynamic scale economies, Journal of Development Economics, vol.27, issue.1-2, pp.41-55, 1987.

R. Lam and L. Wantchekon, Political dutch disease. Manuscript. New York: Department of Politics, 2003.

G. Lange, Q. Wodon, and K. Carey, The changing wealth of nations 2018: Building a sustainable future, The World Bank, 2018.

V. Lantz and Q. Feng, Assessing income, population, and technology impacts on CO2 emissions in Canada: where's the EKC?, Ecological Economics, vol.57, issue.2, pp.229-238, 2006.

R. Li, R. Joyeux, and R. D. Ripple, International natural gas market integration, The Energy Journal, pp.159-179, 2014.

N. Loayza, V. Viktoria, and . Hnatkovska, , 2004.

S. Lochner and D. Bothe, The development of natural gas supply costs to europe, the united states and japan in a globalizing gas market-model-based analysis until 2030, Energy Policy, vol.37, issue.4, pp.1518-1528, 2009.

R. Lopez and S. Mitra, Corruption, pollution, and the kuznets environment curve, Journal of Environmental Economics and Management, vol.40, issue.2, pp.137-150, 2000.

A. López, -. Villavicencio, and V. Mignon, On the impact of inflation on output growth: Does the level of inflation matter, Journal of macroeconomics, vol.33, issue.3, pp.455-464, 2011.

A. Malik and J. Temple, The geography of output volatility, Journal of Development Economics, vol.90, issue.2, pp.163-178, 2009.

P. Maniloff and R. Mastromonaco, The local economic impacts of hydraulic fracturing and determinants of dutch disease. Division of Economic and Business Working Paper Series, 2014.

D. Manley, J. F. Cust, and G. Cecchinato, Stranded nations? the climate policy implications for fossil fuel-rich developing countries. The Climate Policy Implications for Fossil Fuel-Rich Developing Countries, vol.34, 2017.

E. Matsen and R. Torvik, Optimal dutch disease, Journal of Development Economics, vol.78, issue.2, pp.494-515, 2005.

K. Matsuyama, Agricultural productivity, comparative advantage, and economic growth, Journal of Economic Theory, vol.58, issue.2, pp.317-334, 1992.

D. Maxwell and Z. Zhu, Natural gas prices, lng transport costs, and the dynamics of lng imports, Energy Economics, vol.33, issue.2, pp.217-226, 2011.

J. Maya, The united states experience as a reference of success for shale gas development: The case of mexico, Energy Policy, vol.62, pp.70-78, 2013.

E. Kenneth and . Mcconnell, Income and the demand for environmental quality, Environment and Development Economics, vol.2, issue.4, pp.383-399, 1997.

H. Donella, . Meadows, L. Dennis, J. Meadows, W. W. Randers et al., The limits to growth, vol.102, p.27, 1972.

H. Mehlum, K. Moene, and R. Torvik, Institutions and the resource curse. The Economic, Journal, vol.116, issue.508, pp.1-20, 2006.

P. , G. Méon, and L. Weill, Is corruption an efficient grease? World Development, vol.38, pp.244-259, 2010.

V. Mignon and C. Hurlin, Une synthèse des tests de racine unitaire sur données de panel, Economie & prévision, vol.169, issue.3, pp.253-294, 2005.

E. G. Edward-l-morse, . Lee, A. Daniel-p-ahn, . Doshi, A. Seth-m-kleinman et al., Energy 2020: North america, the new middle east, 2012.

S. Nickell, Biases in dynamic models with fixed effects, Econometrica: Journal of the Econometric Society, pp.1417-1426, 1981.

T. Panayotou, Empirical tests and policy analysis of environmental degradation at different stages of economic development, 1993.

E. Papyrakis and R. Gerlagh, The resource curse hypothesis and its transmission channels, Journal of Comparative Economics, vol.32, issue.1, pp.181-193, 2004.

C. Tobias-a-persson, K. Azar, and . Lindgren, Allocation of co2 emission permits-economic incentives for emission reductions in developing countries, Energy Policy, vol.34, issue.14, pp.1889-1899, 2006.

. Hashem-pesaran, General diagnostic tests for cross section dependence in panels. Cambridge Working Papers in Economics 0435, 2004.

. Donald-r-petterson, The witwatersrand a unique gold mining community, Economic Geography, vol.27, issue.3, pp.209-221, 1951.

M. Aaron, C. Petty, H. Isendahl, . Brenkert-smith, J. David et al., Applying historical ecology to natural resource management institutions: lessons from two case studies of landscape fire management, Global Environmental Change, vol.31, pp.1-10, 2015.

L. Price, D. Mark, N. Levine, D. Zhou, N. Fridley et al., Assessment of China's energy-saving and emission-reduction accomplishments and opportunities during the 11th Five Year Plan, Energy Policy, vol.39, issue.4, pp.2165-2178, 2011.

G. Psacharopoulos, Returns to investment in education: A global update, World Development, vol.22, issue.9, pp.1325-1343, 1994.

C. Raddatz, Are external shocks responsible for the instability of output in low-income countries, Journal of Development Economics, vol.1, issue.84, pp.155-187, 2007.

G. Brian, J. T. Rahm, . Bates, R. Lara, A. E. Bertoia et al.,

J. Susan and . Riha, Wastewater management and marcellus shale gas development: Trends, drivers, and planning implications, Journal of Environmental Management, vol.120, pp.105-113, 2013.

G. Ramey and V. A. Ramey, Cross-country evidence on the link between volatility and growth, 1994.

N. Regnard and J. Zakoian, A conditionally heteroskedastic model with time-varying coefficients for daily gas spot prices, Energy Economics, vol.33, issue.6, pp.1240-1251, 2011.

R. James-a-robinson, T. Torvik, and . Verdier, Political foundations of the resource curse, Journal of Development Economics, vol.79, issue.2, pp.447-468, 2006.

J. Roca, E. Padilla, M. Farré, and V. Galletto, Economic growth and atmospheric pollution in Spain: discussing the environmental Kuznets curve hypothesis, Ecological Economics, vol.39, issue.1, pp.85-99, 2001.

F. Rodriguez, D. Jeffrey, and . Sachs, Why do resource-abundant economies grow more slowly, Journal of Economic Growth, vol.4, issue.3, pp.277-303, 1999.

D. Rodrik, Policy uncertainty and private investment in developing countries, Journal of Development Economics, vol.36, issue.2, pp.229-242, 1991.

D. Rodrik, Premature deindustrialization, Journal of Economic Growth, vol.21, issue.1, pp.1-33, 2016.

M. Ross, K. Kaiser, and N. Mazaheri, The" resource curse" in MENA? political transitions, resource wealth, economic shocks, and conflict risk, 2011.

D. Jeffrey, A. Sachs, and . Warner, Natural resource abundance and economic growth, 1995.

D. Jeffrey, A. Sachs, and . Warner, The curse of natural resources, European Economic Review, vol.45, issue.4-6, pp.827-838, 2001.

X. Sala-i-martin and A. Subramanian, Addressing the natural resource curse: An illustration from Nigeria, Journal of African Economies, vol.22, issue.4, pp.570-615, 2012.

M. Thomas, D. Selden, and . Song, Environmental quality and development: is there a Kuznets curve for air pollution emissions, Journal of Environmental Economics and Management, vol.27, issue.2, pp.147-162, 1994.

E. Sendich, The importance of natural gas in the industrial sector with a focus on energyintensive industries, Independent Statistics & Analysis. US Energy Information Administration, 2014.

L. Serven, Irreversibility, uncertainty and private investment: Analytical issues and some lessons for africa, Journal of African Economies, vol.6, issue.3, pp.229-268, 1997.

N. Shafik and S. Bandyopadhyay, Economic growth and environmental quality: timeseries and cross-country evidence, vol.904, 1992.

M. Shahbaz, M. Bhattacharya, and K. Ahmed, Growth-globalisation-emissions nexus: the role of population in australia, Monash Business School Discussion Paper, issue.23/15, pp.1-33, 2015.

X. Shi, China's small coal mine policy in the 2000s: A case study of trusteeship and consolidation, Resources Policy, vol.38, issue.4, pp.598-604, 2013.

X. Shi, Setting effective mandatory energy efficiency standards and labelling regulations: a review of best practices in the asia pacific region, Applied Energy, vol.133, pp.135-143, 2014.

B. Smith, The resource curse exorcised: Evidence from a panel of countries, Journal of Development Economics, vol.116, pp.57-73, 2015.

I. David and . Stern, Explaining changes in global sulfur emissions: an econometric decomposition approach, Ecological Economics, vol.42, issue.1-2, pp.201-220, 2002.

J. Stijns, Natural resource abundance and economic growth revisited. Resources policy, vol.30, pp.107-130, 2005.

. Undp-sustainability, Equity: A better future for all: Human development report 2011. United Nations Development Program, 2011.

T. Graeme, . Swindles, T. Ian, I. P. Lawson, M. Matthews et al.,

, Centennial-scale climate change in ireland during the holocene, Earth-Science Reviews, vol.126, pp.300-320, 2013.

A. Tornell and . Philip-r-lane, The voracity effect, American economic review, vol.89, issue.1, pp.22-46, 1999.

M. Torras and J. Boyce, Income, inequality, and pollution: a reassessment of the environmental Kuznets curve, Ecological Economics, vol.25, issue.2, pp.147-160, 1998.

R. Torvik, Learning by doing and the Dutch disease, European Economic Review, vol.45, issue.2, pp.285-306, 2001.

A. Trembath, J. Jenkins, T. Nordhaus, and M. Shellenberger, Where the Shale Gas Revolution Came From. The Breakthrough Institute, vol.23, 2012.

F. Van-der-ploeg, Natural resources: curse or blessing, Journal of Economic Literature, vol.49, issue.2, pp.366-420, 2011.

F. Van-der-ploeg and S. Poelhekke, Volatility and the natural resource curse, Oxford Economic Papers, vol.61, issue.4, pp.727-760, 2009.

F. Van-der-ploeg and A. J. Venables, Absorbing a windfall of foreign exchange: Dutch disease dynamics, Journal of Development Economics, vol.103, pp.229-243, 2013.

. Sweder-van-wijnbergen, The dutch disease': a disease after all?, The Economic Journal, vol.94, issue.373, pp.41-55, 1984.

A. Vengosh, B. Robert, N. Jackson, . Warner, H. Thomas et al., A critical review of the risks to water resources from unconventional shale gas development and hydraulic fracturing in the united states, Environmental science & technology, vol.48, issue.15, pp.8334-8348, 2014.

A. Jose and F. Villar, The relationship between crude oil and natural gas prices. Energy Information Administration, pp.1-43, 2006.

H. Wakamatsu and K. Aruga, The impact of the shale gas revolution on the US and Japanese natural gas markets, Energy Policy, vol.62, pp.1002-1009, 2013.

K. Wang, M. Wu, Y. Sun, X. Shi, A. Sun et al., Resource abundance, industrial structure, and regional carbon emissions efficiency in China, Resources Policy, vol.60, pp.203-214, 2019.

Q. Wang, X. Chen, N. Awadhesh, H. Jha, and . Rogers, Natural gas from shale formationthe evolution, evidences and challenges of shale gas revolution in United States, Renewable and Sustainable Energy Reviews, vol.30, pp.1-28, 2014.

J. Watt, D. Jarrett, and R. Hamilton, Dose-response functions for the soiling of heritage materials due to air pollution exposure, Science of the Total Environment, vol.400, issue.1-3, pp.415-424, 2008.

G. Jeremy and . Weber, Energy Economics, vol.34, issue.5, pp.1580-1588, 2012.

G. Jeremy and . Weber, A decade of natural gas development: The makings of a resource curse?, Resource and Energy Economics, vol.37, pp.168-183, 2014.

M. Jeffrey and . Wooldridge, Econometric Analysis of Cross Section and Panel Data, 2002.

K. Wosepka, S. Levine, and H. Zhen, How Shale Energy Could Ignite the U.S. Growth Engine. Perspectives: Insights on Today's Investment Issues, 2012.

G. Yang, W. Li, J. Wang, and D. Zhang, A comparative study on the influential factors of China's provincial energy intensity, Energy Policy, vol.88, pp.74-85, 2016.

L. Yang, K. Wang, and J. Geng, China's regional ecological energy efficiency and energy saving and pollution abatement potentials: An empirical analysis using epsilon-based measure model, Journal of Cleaner Production, vol.194, pp.300-308, 2018.

G. Zhang, H. Qu, G. Chen, C. Zhao, F. Zhang et al., Giant discoveries of oil and gas fields in global deepwaters in the past 40 years and the prospect of exploration, Journal of Natural Gas Geoscience, vol.4, issue.1, pp.1-28, 2019.

X. Zhao, C. Ma, and D. Hong, Why did China's energy intensity increase during 1998-2006: decomposition and policy analysis, Energy Policy, vol.38, issue.3, pp.1379-1388, 2010.

Q. Zhu and X. Peng, The impacts of population change on carbon emissions in China during, Environmental Impact Assessment Review, vol.36, pp.1-8, 1978.