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Mineral resources and the green economy: A blueprint for sustainable development and innovation

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  • Hu, Qian
  • Gu, Yongkun

Abstract

This study assesses the factors influencing sustainable growth in agriculture and industry across 14 Asian economies, utilizing data spanning from 2000 to 2020 and employing the System-GMM (Generalized Method of Moments) technique. The findings reveal a noteworthy positive impact of a 1% increase in patent applications on the green growth of the industry, while no such effect is observed in agriculture. Mineral resource efficiency emerges as crucial for green growth, exhibiting significant improvements. Conversely, heightened internet access is associated with reduced green growth due to increased electricity consumption from fossil fuels. Inward foreign direct investment is found to impede green growth, highlighting the need for a transition to sustainable sectors. Additionally, the Consumer Price Index negatively affects potential green growth. Lastly, a higher GDP per capita positively influences green growth, underscoring the role of income levels in prioritizing sustainability. Recommendations include supporting green research and development, fostering a robust green finance market, digitalizing green finance, and implementing emissions taxation on mineral exploitation companies to promote resource efficiency and sustainability.

Suggested Citation

  • Hu, Qian & Gu, Yongkun, 2024. "Mineral resources and the green economy: A blueprint for sustainable development and innovation," Resources Policy, Elsevier, vol. 88(C).
    • Handle: RePEc:eee:jrpoli:v:88:y:2024:i:c:s0301420723011728
    DOI: 10.1016/j.resourpol.2023.104461
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    More about this item

    Keywords

    Mineral resources; Innovation progress; Green growth; Mineral efficiency;
    All these keywords.

    JEL classification:

    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • Q34 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Natural Resources and Domestic and International Conflicts
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

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