The impact of a natural resource protection policy on economic development: Based on a policy evaluation of China's coal resource tax reform

The protection of natural resources was vital to promote the effective and sustainable utilization of nonrenewable energy. Resource taxation is an important policy tool for protecting natural resources and the ecological environment, and for realizing sustainable economic development. This study focuses on the coal resource tax reform and utilizes the difference-in-differences (DID) model to assess its impact on regional real GDP and resource tax revenue using panel data from 30 provinces in China spanning 2006 to 2021. We found that coal resource tax reform had significantly positive influence on the real GDP and resource tax revenue, and its effect on the latter was greater than that on the former. The reform contributes to improvements in energy structure, industrial agglomeration, and social consumption levels, which ultimately drives real regional GDP growth. The robustness test further confirms the robustness of these findings. This study puts forward several implications aimed at fostering ongoing enhancement of the coal resource tax reform policy, augmenting policy implementation flexibility, and providing guidance for enterprise technology research and advancement. By harnessing the supportive role of natural resource elements, policymakers can facilitate a green economic transformation and achieve high-quality economic development.