IDEAS home Printed from https://ideas.repec.org/a/eee/jrpoli/v86y2023ipbs0301420723009790.html
   My bibliography  Save this article

Greening the economic recovery: Natural resource market efficiency as a key driver

Author

Listed:
  • Xiong, Wei
  • Jiang, Mengzhen
  • Tashkhodjaev, Mukhtorkhon
  • Pashayev, Zohrab

Abstract

China, the most populous nation on earth and a significant force in the world economy, faced the difficult task of balancing environmental sustainability and economic prosperity. To better understand how the efficiency of the natural resource market contributes to economic growth and environmental sustainability, this study looks at China from 2009 to 2019. A Data Envelopment Analysis (DEA) model is utilized to assess the effectiveness of China's natural resource markets over the past ten years. The study's findings demonstrate the critical role that market efficiency plays in recovering the green economy. China managed to attain environmental sustainability and economic growth through effective resource allocation. The study emphasizes how crucial it is to implement legislative measures that boost resource efficiency and cut waste. During the studied period, China's attempts to balance environmental concerns and economic growth produced positive results, showing that effective resource management can lead to sustainable development.

Suggested Citation

  • Xiong, Wei & Jiang, Mengzhen & Tashkhodjaev, Mukhtorkhon & Pashayev, Zohrab, 2023. "Greening the economic recovery: Natural resource market efficiency as a key driver," Resources Policy, Elsevier, vol. 86(PB).
    • Handle: RePEc:eee:jrpoli:v:86:y:2023:i:pb:s0301420723009790
    DOI: 10.1016/j.resourpol.2023.104268
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0301420723009790
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.resourpol.2023.104268?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Mensi, Walid & Rehman, Mobeen Ur & Maitra, Debasish & Al-Yahyaee, Khamis Hamed & Vo, Xuan Vinh, 2021. "Oil, natural gas and BRICS stock markets: Evidence of systemic risks and co-movements in the time-frequency domain," Resources Policy, Elsevier, vol. 72(C).
    2. Victoria Gartman & Lea Bulling & Marie Dahmen & Gesa Geißler & Johann Köppel, 2016. "Mitigation Measures for Wildlife in Wind Energy Development, Consolidating the State of Knowledge — Part 1: Planning and Siting, Construction," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 18(03), pages 1-45, September.
    3. Hongda Liu & Haifeng Zhao, 2022. "Upgrading models, evolutionary mechanisms and vertical cases of service-oriented manufacturing in SVC leading enterprises: Product-development and service-innovation for industry 4.0," Palgrave Communications, Palgrave Macmillan, vol. 9(1), pages 1-24, December.
    4. Xiuzhen, Xie & Zheng, Wenxiu & Umair, Muhammad, 2022. "Testing the fluctuations of oil resource price volatility: A hurdle for economic recovery," Resources Policy, Elsevier, vol. 79(C).
    5. Xiang Cui & Muhammad Umair & Ganijon Ibragimove Gayratovich & Azer Dilanchiev, 2023. "Do Remittances Mitigate Poverty? An Empirical Evidence From 15 Selected Asian Economies," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 68(04), pages 1447-1468, June.
    6. Naoyuki Yoshino & Ehsan Rasoulinezhad & Farhad Taghizadeh-Hesary, 2021. "Economic Impacts of Carbon Tax in a General Equilibrium Framework: Empirical Study of Japan," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 23(01n02), pages 1-25, June.
    7. Victoria Gartman & Lea Bulling & Marie Dahmen & Gesa Geißler & Johann Köppel, 2016. "Mitigation Measures for Wildlife in Wind Energy Development, Consolidating the State of Knowledge — Part 2: Operation, Decommissioning," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 18(03), pages 1-31, September.
    8. Frank Hanssen & Roel May & Jiska van Dijk & Jan Ketil Rød, 2018. "Spatial Multi-Criteria Decision Analysis Tool Suite for Consensus-Based Siting of Renewable Energy Structures," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 20(03), pages 1-28, September.
    9. Kavousian, Amir & Rajagopal, Ram & Fischer, Martin, 2013. "Determinants of residential electricity consumption: Using smart meter data to examine the effect of climate, building characteristics, appliance stock, and occupants' behavior," Energy, Elsevier, vol. 55(C), pages 184-194.
    10. Xu, Zilin & Mohsin, Muhammad & Ullah, Kaleem & Ma, Xiaoyu, 2023. "Using econometric and machine learning models to forecast crude oil prices: Insights from economic history," Resources Policy, Elsevier, vol. 83(C).
    11. Hongda Liu & Pinbo Yao & Xiaoxia Wang & Jialiang Huang & Liying Yu, 2021. "Research on the Peer Behavior of Local Government Green Governance Based on SECI Expansion Model," Land, MDPI, vol. 10(5), pages 1-26, May.
    12. Zeljka Kordej-De Villa & Suncana Slijepcevic, 2019. "Assessment of Local Councillors’ Attitudes Towards Energy Efficiency Projects in Croatia," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 21(04), pages 1-24, December.
    13. Patricia Ozoike-Dennis & Harry Spaling & A. John Sinclair & Heidi M. Walker, 2019. "SEA, Urban Plans and Solid Waste Management in Kenya: Participation and Learning for Sustainable Cities," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 21(04), pages 1-22, December.
    14. Bradley R. Staats & Francesca Gino, 2012. "Specialization and Variety in Repetitive Tasks: Evidence from a Japanese Bank," Management Science, INFORMS, vol. 58(6), pages 1141-1159, June.
    15. Mohsin, Muhammad & Jamaani, Fouad, 2023. "Green finance and the socio-politico-economic factors’ impact on the future oil prices: Evidence from machine learning," Resources Policy, Elsevier, vol. 85(PA).
    16. Jahanger, Atif & Yu, Yang & Hossain, Mohammad Razib & Murshed, Muntasir & Balsalobre-Lorente, Daniel & Khan, Uzma, 2022. "Going away or going green in NAFTA nations? Linking natural resources, energy utilization, and environmental sustainability through the lens of the EKC hypothesis," Resources Policy, Elsevier, vol. 79(C).
    17. Chang, Lei & Mohsin, Muhammad & Gao, Zhennan & Taghizadeh-Hesary, Farhad, 2023. "Asymmetric impact of oil price on current account balance: Evidence from oil importing countries," Energy Economics, Elsevier, vol. 123(C).
    18. Khan, Arshad Ahmad & Luo, Jianchao & Safi, Adnan & Khan, Sufyan Ullah & Ali, Muhammad Abu Sufyan, 2022. "What determines volatility in natural resources? Evaluating the role of political risk index," Resources Policy, Elsevier, vol. 75(C).
    19. Taghizadeh-Hesary, Farhad & Yoshino, Naoyuki, 2019. "The way to induce private participation in green finance and investment," Finance Research Letters, Elsevier, vol. 31(C), pages 98-103.
    20. Balsalobre-Lorente, Daniel & Abbas, Jaffar & He, Chang & Pilař, Ladislav & Shah, Syed Ale Raza, 2023. "Tourism, urbanization and natural resources rents matter for environmental sustainability: The leading role of AI and ICT on sustainable development goals in the digital era," Resources Policy, Elsevier, vol. 82(C).
    21. Ning Ding & Barry C. Field, 2005. "Natural Resource Abundance and Economic Growths," Land Economics, University of Wisconsin Press, vol. 81(4).
    22. Gu, Xiao & Shen, Xi & Zhong, Xiangming & Wu, Tong & Rahim, Syed, 2023. "Natural resources and undesired productions of environmental outputs as green growth: EKC in the perspective of green finance and green growth in the G7 region," Resources Policy, Elsevier, vol. 82(C).
    23. Jilong Chen & Christian Ewald & Ruolan Ouyang & Sjur Westgaard & Xiaoxia Xiao, 2022. "Pricing commodity futures and determining risk premia in a three factor model with stochastic volatility: the case of Brent crude oil," Annals of Operations Research, Springer, vol. 313(1), pages 29-46, June.
    24. Yu, Mengyan & Umair, Muhammad & Oskenbayev, Yessengali & Karabayeva, Zhаnsaya, 2023. "Exploring the nexus between monetary uncertainty and volatility in global crude oil: A contemporary approach of regime-switching," Resources Policy, Elsevier, vol. 85(PB).
    25. Le, Thai-Ha & Le, Ha-Chi & Taghizadeh-Hesary, Farhad, 2020. "Does financial inclusion impact CO2 emissions? Evidence from Asia," Finance Research Letters, Elsevier, vol. 34(C).
    26. Taghizadeh-Hesary, Farhad & Rasoulinezhad, Ehsan & Yoshino, Naoyuki, 2019. "Energy and Food Security: Linkages through Price Volatility," Energy Policy, Elsevier, vol. 128(C), pages 796-806.
    27. Liu, Hongda & Huang, Feipeng & Huang, Jialiang, 2022. "Measuring the coordination decision of renewable energy as a natural resource contracts based on rights structure and corporate social responsibility from economic recovery," Resources Policy, Elsevier, vol. 78(C).
    28. Ehsan Rasoulinezhad, 2020. "Environmental Impact Assessment Analysis in the Kahak’s Wind Farm," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 22(01n02), pages 1-15, June.
    29. Nathaniel, Solomon Prince & Yalçiner, Kürşat & Bekun, Festus Victor, 2021. "Assessing the environmental sustainability corridor: Linking natural resources, renewable energy, human capital, and ecological footprint in BRICS," Resources Policy, Elsevier, vol. 70(C).
    30. Elise Pinto & Angus Morrison-Saunders & Alan Bond & Jenny Pope & Francois Retief, 2019. "Distilling and Applying Criteria for Best Practice EIA Follow-Up," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 21(02), pages 1-32, June.
    31. Zhang, Dongyang & Mohsin, Muhammad & Taghizadeh-Hesary, Farhad, 2022. "Does green finance counteract the climate change mitigation: Asymmetric effect of renewable energy investment and R&D," Energy Economics, Elsevier, vol. 113(C).
    32. Wu, Qihan & Yan, Dong & Umair, Muhammad, 2023. "Assessing the role of competitive intelligence and practices of dynamic capabilities in business accommodation of SMEs," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 1103-1114.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Qi, Ruijuan & Ma, Guowei & Zhang, Qiwen & Liu, Chang & Wang, Qi, 2024. "Innovation for sustainability: Harnessing the power of efficient natural resource markets for a greener economic recovery," Resources Policy, Elsevier, vol. 88(C).
    2. Sun, Yi & Gao, Junjun, 2023. "Natural resource endowment and its lmpact on ecological efficiency," Resources Policy, Elsevier, vol. 87(PB).
    3. Zhou, Yongbin & Liu, Yiying & Niu, Juanjuan, 2024. "Role of mineral-based industrialization in promoting economic growth: Implications for achieving environmental sustainability and social equity," Resources Policy, Elsevier, vol. 88(C).
    4. Wu, Jie & Guluzada, Esmira & Karimzada, Mehriban, 2024. "The sustainable use of natural resource markets: Moving toward greener horizons," Resources Policy, Elsevier, vol. 89(C).
    5. Lei, Hao & Zhu, Yu & Tan, Jinlong & Zhang, Xiaofeng, 2024. "Blending financial innovation with natural resource utilization: Pathways to green economic expansion," Resources Policy, Elsevier, vol. 89(C).
    6. Kong, Jiangwei & Gao, Mengxi, 2024. "Sustainable strategies for boosting profitability: Unveiling the connection between fiscal policy and natural resource efficiency," Resources Policy, Elsevier, vol. 88(C).
    7. Liu, Shan & Zhong, Chun, 2024. "Green growth: Intellectual property conflicts and prospects in the extraction of natural resources for sustainable development," Resources Policy, Elsevier, vol. 89(C).
    8. Zuo, Zhenting & Cao, Rui & Teymurova, Vusala, 2024. "Unlocking natural resource potential: A balanced strategies for a fair and sustainable economic recovery," Resources Policy, Elsevier, vol. 89(C).
    9. Liu, Xiujuan, 2024. "A regenerative paradigm: Fostering economic recovery by harnessing natural resource efficiency for lasting sustainability," Resources Policy, Elsevier, vol. 88(C).
    10. Bin, Hu & Tuoyu, Li, 2024. "Greening the recovery: Natural resource sustainability and carbon assessment for financial development," Resources Policy, Elsevier, vol. 89(C).
    11. Chen, Guoli & Qian, Zhe & Bolatbek, Botagoz & Na, Liu, 2024. "A comparative study of the nexus of natural resource investment in national economies: Effects on cultural communication and economic growth," Resources Policy, Elsevier, vol. 94(C).
    12. Kuang, Hewu & Liang, Yiyan & Zhao, Wenjia & Cai, Jiahong, 2023. "Impact of natural resources and technology on economic development and sustainable environment – Analysis of resources-energy-growth-environment linkages in BRICS," Resources Policy, Elsevier, vol. 85(PB).
    13. Li, Na & Dilanchiev, Azer & Mustafa, Ghulam, 2023. "From oil and mineral extraction to renewable energy: Analyzing the efficiency of green technology innovation in the transformation of the oil and gas sector in the extractive industry," Resources Policy, Elsevier, vol. 86(PA).
    14. Sun, Jiaqi & Li, Ping & Wang, Yunqiao, 2024. "Policy tools for sustainability: Evaluating the effectiveness of fiscal measures in natural resource efficiency," Resources Policy, Elsevier, vol. 89(C).
    15. Zhang, Xuenan & Zhang, Jinxin & Wang, Hongling, 2024. "Resilient recovery strategies: Enhancing resiliency in natural resource markets for sustainable development," Resources Policy, Elsevier, vol. 90(C).
    16. Su, Yong & Dong, Yue & Ullah, Mirzat & Li, Nanbo, 2024. "Utilizing natural resource efficiency at the core of green economic growth in the Anthropocene," Resources Policy, Elsevier, vol. 90(C).
    17. Xiaoxin, Zhang, 2024. "Greening the bottom line: Unlocking efficiency in natural resource markets for resilience," Resources Policy, Elsevier, vol. 89(C).
    18. Xu, Lan & Tang, Shuxiang, 2024. "Sustainable development: Maximizing productivity in natural resource markets for a more ecologically friendly future," Resources Policy, Elsevier, vol. 89(C).
    19. Li, Ziyao & Dai, Liuyi, 2024. "Impact of energy stability, natural resources, and energy efficiency on ecological sustainability," Resources Policy, Elsevier, vol. 90(C).
    20. Mao, Zhouheng & Wang, Hui & Bibi, Sidra, 2024. "Crude oil volatility spillover and stock market returns across the COVID-19 pandemic and post-pandemic periods: An empirical study of China, US, and India," Resources Policy, Elsevier, vol. 88(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jrpoli:v:86:y:2023:i:pb:s0301420723009790. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/30467 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.