Examining the nexus of mineral resources, technology adoption, and economic expansion in advancing sustainable development in OECD economies

Chien-Chi Chu, Manal Yunis, Xiying Huang, Yingye Mi, Yida Wu and Yun Ji

Resources Policy, 2024, vol. 91, issue C

Abstract: In a time when advanced economies are struggling with both environmental stability and sustainable development, the need for striking a balance between using natural resources and protecting environmental quality is paramount. As the consumption of natural resources quickens, environmental pollution and energy-related emissions concerns amplify. This research explores the complex relations of environmental quality in seven OECD nations for three decades (1990–2020), focusing particularly on the effects of natural resources. Utilizing advanced econometric methodologies, including fully modified OLS and dynamic OLS, it reveals the significant role of natural resources, alongside digitalization and economic expansion, in contributing to environmental degradation. These combined factors impede the journey towards carbon neutrality. However, investment in human resources and renewable energy usage emerge as key components in lowering emissions and pushing economies towards this crucial objective. The study highlights the dilemma of industrialized countries: the reliance on natural resources for economic growth versus the necessity of environmental conservation. The results act as a plea for sustainable regulation of finite resources, increased funding in human capital, and a heightened emphasis on research and innovation. It further recommends advocating for the production and consumption of renewable energy. By shedding light on the tangled relationship between these factors and environmental quality, the study provides valuable understandings for decision-makers and interested parties. These insights play an essential role in strategizing for sustainable development and reducing environmental degradation, contributing significantly to discussions on achieving a balanced and sustainable future.

Keywords: Carbon neutrality; Human capital; Renewable energy; Digitalization; Economic growth; Developed economies (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0301420724002319
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:91:y:2024:i:c:s0301420724002319

DOI: 10.1016/j.resourpol.2024.104864

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 ().