Building back greener: Promoting performance in natural resource markets for sustainable development

Abstract

The problem of unsustainable development of natural resource markets is a critical challenge to the country's long-term prosperity and global ecological health. China has experienced unprecedented economic growth, but this has come at significant environmental costs. Using a Panel Data model, this study aims to investigate the effectiveness of various policy interventions aimed at “Building Back Greener” in China's natural resource markets over the period 2000–2020. The research focuses on assessing the impact of regulatory measures, market incentives, and public-private partnerships on promoting sustainable practices. The results indicate that a multi-pronged approach, combining strict regulations with market-based incentives, is most promising in enhancing performance and sustainability in natural resource markets. These findings offer valuable insights for policymakers, industry stakeholders, and environmental advocates, highlighting the need for a balanced approach to achieve sustainable development in China and potentially other rapidly developing economies.