What drives resource sustainability in Asia? Discovering the moderating role of financial development and industrialization

Junhui Li and Guowei Li

Resources Policy, 2023, vol. 85, issue PA

Abstract: The substantial escalation in resource depletion, especially in Asian countries, impedes sustainable development. The process of financial development augmented with industrialization is crucial to understand their impact on natural resources sustainability. Therefore, the current study examines the effects of industrialization, financial development, and technological innovation on resource sustainability of selected Asian countries from 1990 to 2020. The Cross-Sectional Augmented Distributive Lags model is utilized for empirical analysis. The long-run outcomes revealed that financial development and technological innovation helps to curb resource utilization while industrialization and economic growth accelerates the resource footprint. Interestingly, the moderating role of financial development and industrialization depicts that the negative consequences of industrialization are defused if financial development is augmented with technological innovation. The study's outcomes offer several implications for resource sustainability for Asian countries. The positive long-run association between financial development and technological innovation suggests strengthening the regulations related to industrialization as an innovative mode of manufacturing enhances the quality of environment.

Keywords: Resources footprint; Sustainability; Financial development; Technological innovation; Industrialization (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0301420723003616
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:85:y:2023:i:pa:s0301420723003616

DOI: 10.1016/j.resourpol.2023.103650

Access Statistics for this article

Resources Policy is currently edited by R. G. Eggert

More articles in Resources Policy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().