Resilience through mineral resource development, oil, and natural resource efficiency: Strengthening economies

Miaoyin Jia, Gan Lu, Youliang Yan and Sidra Nazir ()

Resources Policy, 2024, vol. 91, issue C

Abstract: This study examines the role of resilience in bolstering economies via the development of mineral resources and oil, alongside adaptability and natural resource efficiency, particularly within the G7 economies from 1995 to 2022. Employing the Generalized Method of Moments (GMM) model, the research aims to unravel the complexities of how resource-rich economies can leverage their natural assets to enhance economic resilience and sustainability. The investigation reveals a positive correlation between the strategic development of mineral resources, oil, and the adaptability of economies to external shocks, highlighting the critical importance of natural resource efficiency in ensuring long-term economic stability and growth. These findings underscore the necessity for G7 nations to implement policies that not only foster the responsible exploitation and development of natural resources but also promote adaptability and efficiency in resource use. The study's policy implication suggests a paradigm shift towards more sustainable and resilient economic models, emphasizing the balanced integration of resource development and environmental stewardship.

Keywords: Economic growth; Development adaptability; Natural resources efficiency; Mineral resources (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S030142072400309X
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:s030142072400309x

DOI: 10.1016/j.resourpol.2024.104942

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 ().