The sustainability challenge and social benefits of industrialisation in NICs

IF 10.2 2区经济学 0 ENVIRONMENTAL STUDIES

Resources Policy Pub Date : 2025-03-07 DOI:10.1016/j.resourpol.2025.105541

Irsa Azam, Yongsheng Guo, Mirza Muhammad Naseer

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引用次数: 0

Abstract

This study examines the impact of industrialisation, innovation, foreign capital, and financial development on resource management and social well-being in newly industrialised countries from 1999 to 2022. Using fixed effects models as the foundation for regression analysis, we incorporate advanced econometric techniques, including Fully Modified Ordinary Least Squares (FMOLS) and Generalised Method of Moments (GMM) to effectively tackle issues of heteroscedasticity and autocorrelation, thereby ensuring robust and reliable estimates. Our findings demonstrate that industrialisation and innovation increase material consumption and social well-being. This research adds to the existing literature by providing nuanced insights into the complementary roles of industrialisation and innovation in promoting sustainable development within newly industrialised nations (NICs). The implications of this study are crucial for policymakers and stakeholders, as they offer a strategic framework for fostering economic growth while ensuring resource efficiency and enhancing social welfare.

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来源期刊

Resources Policy ENVIRONMENTAL STUDIES-

CiteScore

13.40

自引率

23.50%

发文量

602

审稿时长

69 days

期刊介绍： Resources Policy is an international journal focused on the economics and policy aspects of mineral and fossil fuel extraction, production, and utilization. It targets individuals in academia, government, and industry. The journal seeks original research submissions analyzing public policy, economics, social science, geography, and finance in the fields of mining, non-fuel minerals, energy minerals, fossil fuels, and metals. Mineral economics topics covered include mineral market analysis, price analysis, project evaluation, mining and sustainable development, mineral resource rents, resource curse, mineral wealth and corruption, mineral taxation and regulation, strategic minerals and their supply, and the impact of mineral development on local communities and indigenous populations. The journal specifically excludes papers with agriculture, forestry, or fisheries as their primary focus.