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Ways to make mineral resource trade flows sustainable

Author

Listed:
  • Sun, Tongtong
  • Nie, Peng
  • Liu, Xiaoxia
  • Gu, Weiyu

Abstract

The global trade landscape has witnessed a substantial presence of ferrous metal commodities. This study investigates ferrous metal trade dynamics in Central Asia, East Asia and Pacific, and Western Asia from 2000 to 2022 using a panel data analysis. Findings reveal that a 1 % increase in green growth results in a 0.29 % and 0.16 % reduction in fossil fuel consumption in East Asia and Pacific, in the long and short term, respectively. Digitalization exhibits diverse effects, indicating a move towards sustainability in East Asia and Pacific and a positive correlation in other regions. R&D expenditure suggests sustainable practices in East Asia and Pacific, while positive coefficients in Central Asia and Western Asia signify increased ferrous metal trade with rising investments. Urbanization consistently drives ferrous metal demand positively across regions. FDI inflows correlate with heightened trade volume, posing environmental challenges. Policy recommendations include promoting digitalization for green finance in East Asia and Pacific and encouraging green power generation in Central Asia and Western Asia, with an emphasis on sustainability in urban development and corporate practices.

Suggested Citation

  • Sun, Tongtong & Nie, Peng & Liu, Xiaoxia & Gu, Weiyu, 2024. "Ways to make mineral resource trade flows sustainable," Resources Policy, Elsevier, vol. 90(C).
    • Handle: RePEc:eee:jrpoli:v:90:y:2024:i:c:s0301420724001442
    DOI: 10.1016/j.resourpol.2024.104777
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    Keywords

    Ferrous metal trade; Green economic growth; Digitalization; R&D expenditure;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • L61 - Industrial Organization - - Industry Studies: Manufacturing - - - Metals and Metal Products; Cement; Glass; Ceramics
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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