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Can green energy expansion develop the mineral resource market in East Asia?

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  • Ma, Hongchao
  • Zhang, Haonan

Abstract

The mineral resource market is a contentious subject, recognized for its positive impact on economic growth but marred by adverse environmental consequences. This study investigates the influence of various green energy resources on fossil fuel consumption in East Asian countries spanning from 2000 to 2022. Employing the ARDL technique, the empirical findings underscore the transformative potential of solar energy, revealing a significant and enduring reduction in fossil fuel consumption with a mere 1 % increase. Similar positive correlations are evident for wind and hydro energy, their impact more pronounced over the long term. The study recommends prioritizing solar, wind, and hydro energy deployment. Policy implications advocate for the widespread adoption of solar technologies, emphasis on wind and hydro energy, development of a robust green bonds market for financing green projects, and the removal of trade barriers for green utilities and components among East Asian countries.

Suggested Citation

  • Ma, Hongchao & Zhang, Haonan, 2024. "Can green energy expansion develop the mineral resource market in East Asia?," Resources Policy, Elsevier, vol. 90(C).
    • Handle: RePEc:eee:jrpoli:v:90:y:2024:i:c:s030142072400093x
    DOI: 10.1016/j.resourpol.2024.104726
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    More about this item

    Keywords

    Mineral resource market; Fossil fuels consumption; Green deployment; Green recovery context; East Asia;
    All these keywords.

    JEL classification:

    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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