Improving the economic recovery by flexibility, natural resource performance, and resilience

Abstract

Enhancing economic recovery requires a multidimensional strategy incorporating resilience, natural resource performance, and flexibility. Using a nonlinear ARDL approach, we analyze the interaction between the two concepts from 1991 to 2021. Flexible economic policies enable quick adjustments to shifting conditions, resulting in a dynamic and adaptable recovery process. Effective use of natural resources is essential as they are essential to both sustainability and economic development. While reducing environmental effects, efficient use of resources, such as sustainable agriculture and renewable energy, may increase economic output. Additionally, economic systems must be made more resilient to endure shocks and uncertainty. An economy may become more resilient by creating strong financial institutions and diverse businesses. A complete plan for long-term economic recovery is produced by the interaction of flexibility, resilience, and natural resource management, assuring stability and growth. By tackling these interrelated facets, policymakers may provide the groundwork for a future economy that is more robust and flexible.