A look into sustainable development goal amidst technological innovation, financial development and natural resources: a symmetry and asymmetry analyses

Algeria is one of the North African countries endowed with abundant natural resource mostly on oil and gas. Because of its richness in natural resource, most of its economic activities and development (including economic and environment) are dependent and determined by its natural resources. Due to Algeria's rising dependence on natural resource rents, the country's long-term development and environmental policy toward its sustainable development goals (SDGs) have been seriously questioned. For this reason, the objective of this study is to examine the Algeria's sustainable development goals amidst its heavy dependence on natural resources. We applied Algeria's data of 1980 to 2019 with a dual and novel scientific approaches (linear/dynamic ordinary least square-DOLS, and nonlinear autoregressive distributed lag-NARDL) for insightful analysis of this subject. A trio indicator of natural resources, technological innovation and financial development is utilized in this study for a direct overview of their impact on Algeria inclusive sustainable development goals. Findings from the two approaches showed that technological innovation, financial development and natural resources reduce carbon emission and increase economic growth, respectively. Hence, sustainable development goals are achievable for the case of Algeria if policy is framed around innovation, financial development and natural resource. With this, policy framing toward sustainable development goals should focus on increasing technological innovation through financial development which will transcend to improvement on both environment and economic situation of Algeria. Some financial policies such as subsidy from government in financing research projects, and lifting embargo on loan through reduction in interest rate and increase on financial literacy through sensitization on how to go about securing loans are to be considered when framing lasting policies targeting the Algeria's SDGs.