Resource curse, public crisis, and the road to sustainable development in emerging Asia

Abstract

This study delves into the enduring impacts of the Resource Curse Index and good governance on the Sustainable Development Index across 16 emerging Asian economies from 1985 to 2021. Findings underscore a detrimental association between the Vulnerability to Resource Curse Index and sustainable development, highlighting challenges related to economic distortions and environmental degradation. Conversely, good governance proves pivotal in fostering sustainable development, surpassing the impact of the Vulnerability to Resource Curse Index in both short and long terms. Barriers such as economic size, foreign direct investment, and poverty ratio impede progress, emphasizing challenges in environmental sustainability, wealth inequality, and limited access to basic amenities. In response, tailored policies for emerging Asian countries are recommended, focusing on governance enhancement, strategies to mitigate resource curse impacts, and investments in inclusive economic policies to propel sustainable development in the region.