Utilizing the resources efficiency: Evidence from the impacts of media industry and digitalization

Abstract

This study explores the intricate link between media, cultural industries, and mineral resource efficiency in ten major global CO2 emitters from 2000 to 2020, using the CS-ARDL technique. Key findings indicate that the culture and media sector's value addition positively impacts mineral resource efficiency, particularly in the long term, underscoring the need for sustained efforts in this sector. Financial development shows a positive correlation with mineral resource efficiency, with a 1% increase corresponding to about 0.36% and 0.41% increases in short- and long-term mineral resource efficiency, respectively. Poverty ratios are negatively correlated with mineral resource efficiency, highlighting the importance of addressing poverty to indirectly enhance resource efficiency. The study also demonstrates a positive relationship between ICT development and resource efficiency, showcasing digitalization's role in optimizing resource utilization. Good governance and patent applications are positively linked to mineral resource efficiency, emphasizing transparent governance frameworks and innovation. Policy recommendations for major CO2 emitters include leveraging media for sustainability awareness, poverty alleviation, ICT diffusion, fostering green finance growth, and supporting green patent development.