Fostering green economic growth through sustainable management of natural resources

Abstract

This study examines the importance of promoting environmentally friendly economic growth by effectively managing natural resources. It specifically focuses on the period from 2005 to 2014 in the BRICS nations. By employing the sophisticated Propensity Score Matching with Difference-in-Differences (PSM-DID) model, our research reveals intricate relationships between sustainable practices and the advancement of green economic development. The research reveals that the strategic and environmentally conscious management of resources positively impacts the economic growth of BRICS countries. The study highlights the importance of specific policy interventions, urging a coordinated effort to promote sustainable resource practices. This research contributes to the literature on sustainable development and environmentally conscious economic growth by providing detailed and sophisticated insights into the underlying dynamics. It is a solid basis for making well-informed policy decisions in the changing global context.