Greening the recovery: Efficiency in natural resource markets

Abdulrasheed Zakari, Vincent Konadu Tawiah and Stefania Pinzon

Resources Policy, 2024, vol. 98, issue C

Abstract: The present study investigates the correlation between resource trading and green economic recovery strategies, with a particular focus on the scientific contribution towards understanding the effects of trade on environmental sustainability in 43 African countries from 1973 to 2019. The results demonstrate that although the exportation of natural resources can impede the achievement of environmentally friendly economic goals, the importation of resources can stimulate the development of sustainable technology through trade. Resource trading plays a crucial dual function for policymakers seeking to achieve a harmonious equilibrium between economic development and sustainability. The significance of this study is in the provision of practical suggestions, such as the adaptation of resource portfolios, the incorporation of environmental provisions into trade agreements, the allocation of resources towards sustainable infrastructure, and the advancement of inclusive development. These solutions provide a practical method for harmonizing resource trade policies with the goals of green economic recovery. This work enhances the existing literature on sustainable development by examining the trade-offs and synergies between resource trade and sustainability. It provides practical strategies for attaining a balanced and environmentally ecologically sound economic recovery.

Keywords: Resource trade; Resource export; Resource import green recovery; Labor; Capital (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:98:y:2024:i:c:s030142072400727x

DOI: 10.1016/j.resourpol.2024.105360

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