Asymmetrical impact of natural resources and the digital economy on green growth in the top five Asian knowledge-based economies

Abstract

This study examines the asymmetrical and non-linear effects of the natural resources and digital economy on green growth in the five leading Asian knowledge-based economies. The study's outcomes suggest that positive shocks to the digital economy and natural resources contribute to a rise in green growth. In contrast, negative shocks to these factors lead to decreased green growth. Moreover, the study's findings demonstrate that the augmentation of the labour force, the increase in gross fixed capital formation, and the implementation of expansionary exports and import policy are conducive to advancing green growth. Conversely, contractionary export policy, contractionary import policy, and the continued reliance on fossil fuel consumption impede green growth. Policymakers should emphasize labour force and gross fixed capital formation, enact proactive import and export policies, and reduce dependence on fossil fuels and contractionary strategies to promote sustainable green growth in the Asian top 5 knowledge-based Asian economies.