Mineral resources and the green economy: A blueprint for sustainable development and innovation

Abstract

This study assesses the factors influencing sustainable growth in agriculture and industry across 14 Asian economies, utilizing data spanning from 2000 to 2020 and employing the System-GMM (Generalized Method of Moments) technique. The findings reveal a noteworthy positive impact of a 1% increase in patent applications on the green growth of the industry, while no such effect is observed in agriculture. Mineral resource efficiency emerges as crucial for green growth, exhibiting significant improvements. Conversely, heightened internet access is associated with reduced green growth due to increased electricity consumption from fossil fuels. Inward foreign direct investment is found to impede green growth, highlighting the need for a transition to sustainable sectors. Additionally, the Consumer Price Index negatively affects potential green growth. Lastly, a higher GDP per capita positively influences green growth, underscoring the role of income levels in prioritizing sustainability. Recommendations include supporting green research and development, fostering a robust green finance market, digitalizing green finance, and implementing emissions taxation on mineral exploitation companies to promote resource efficiency and sustainability.