Bridging resource disparities for sustainable development: A comparative analysis of resource-rich and resource-scarce countries

Yanchao Feng, Jin Hu, Sahar Afshan, Muhammad Irfan, Mingjun Hu and Shujaat Abbas

Resources Policy, 2023, vol. 85, issue PA

Abstract: This paper aims to investigate the disparities between resource-rich and resource-scarce countries and their profound implications for sustainable development. By analyzing the distinctive resource endowments of these countries, we highlight the capacity of resource-rich countries to effectively manage and utilize resources for sustainable development, leading to various benefits such as investment opportunities, economic advantages, and significant social and environmental impacts. Conversely, resource-scarce countries face multiple challenges including environmental problems, inadequate infrastructure, poverty, social inequality, environmental destruction, and climate change. These disparities underscore the critical importance of addressing the resource divide for sustainable development. In this context, we emphasize the need for resource-rich countries to focus on improving living standards, providing employment opportunities, and ensuring social security. Simultaneously, resource-scarce countries must strengthen their management of environmental issues and public health to enhance the overall quality of life. To address environmental concerns, resource-rich countries should adopt measures to minimize the negative impact of resource exploitation and environmental pollution. Similarly, resource-scarce countries should prioritize the promotion of environmentally friendly development to mitigate environmental damage and effectively tackle climate change. Additionally, it is imperative for all countries to enhance research and development efforts, as well as the utilization of both new and traditional energy sources, to achieve sustainable development.

Keywords: Resource-rich country; Resource-scarce country; Inconsistency; Disparities; Sustainable development (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (16)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:85:y:2023:i:pa:s030142072300692x

DOI: 10.1016/j.resourpol.2023.103981

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