IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v16y2024i1p429-d1312715.html
   My bibliography  Save this article

How Can the Blue Economy Contribute to Inclusive Growth and Ecosystem Resources in Asia? A Comparative Analysis

Author

Listed:
  • Biao Geng

    (Economical and Management College, West Anhui University, Lu’an 237012, China)

  • Daoning Wu

    (School of Information Technology & Engineering, Guangzhou College of Commerce, Guangzhou 511363, China)

  • Chengshu Zhang

    (Economical and Management College, West Anhui University, Lu’an 237012, China)

  • Wenbao Xie

    (Economical and Management College, West Anhui University, Lu’an 237012, China)

  • Muhammad Aamir Mahmood

    (Department of Management Sciences, Virtual University of Pakistan, Faisalabad Campus, Faisalabad 38000, Pakistan)

  • Qamar Ali

    (Department of Economics, Virtual University of Pakistan, Faisalabad 38000, Pakistan)

Abstract

This study investigated the impact of economic, environmental, and social indicators on inclusive growth in 19 member countries of the Asian Cooperation Dialogue from 1995 to 2021. This research employed the Driscoll–Kraay standard error regression technique. The findings reveal that the impact of independent variables on inclusive growth differs significantly among three distinct income categories: lower-middle-income countries (LMYCs), upper-middle-income countries (UMYCs), and high-income countries (HYCs). One of the primary contributions of this research is the provision of empirical evidence concerning the role played by fishery and aquaculture production in fostering inclusive growth in the Asian context. This research also highlights the trade-offs between economic development and environmental sustainability in terms of trade openness; agriculture, forestry, and fishing; the ecological footprint; and renewable energy utilization. Enhancing inclusive growth in Asia requires improving fishery and aquaculture management, diversifying economic activities, reducing the ecological footprint, and increasing renewable energy utilization. This paper suggests some future work directions for extending the analysis to other regions and indicators. The paper also suggests some policy implications for fostering inclusive growth in Asia through regional cooperation, capacity building, technology transfer, and green financing.

Suggested Citation

  • Biao Geng & Daoning Wu & Chengshu Zhang & Wenbao Xie & Muhammad Aamir Mahmood & Qamar Ali, 2024. "How Can the Blue Economy Contribute to Inclusive Growth and Ecosystem Resources in Asia? A Comparative Analysis," Sustainability, MDPI, vol. 16(1), pages 1-22, January.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:1:p:429-:d:1312715
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/16/1/429/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/16/1/429/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Wu, Hong, 2022. "Trade openness, green finance and natural resources: A literature review," Resources Policy, Elsevier, vol. 78(C).
    2. Joakim Westerlund, 2007. "Testing for Error Correction in Panel Data," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 69(6), pages 709-748, December.
    3. Mark P. Hampton & Julia Jeyacheya & Pham Hong Long, 2018. "Can Tourism Promote Inclusive Growth? Supply Chains, Ownership and Employment in Ha Long Bay, Vietnam," Journal of Development Studies, Taylor & Francis Journals, vol. 54(2), pages 359-376, February.
    4. Sanguinetti, Pablo & Moncarz, Pedro & Vaillant, Marcel & Vaillant, Marcel & Allub, Lian & Juncosa, Federico & Barril, Diego & Cont, Walter & Lalanne, Álvaro, . "Pathways to integration: trade facilitation, infrastructure, and global value chains," Report on Economic Development, CAF Development Bank Of Latinamerica, number 1907, March.
    5. Robert McNown & Chung Yan Sam & Soo Khoon Goh, 2018. "Bootstrapping the autoregressive distributed lag test for cointegration," Applied Economics, Taylor & Francis Journals, vol. 50(13), pages 1509-1521, March.
    6. Gossling, Stefan & Hansson, Carina Borgstrom & Horstmeier, Oliver & Saggel, Stefan, 2002. "Ecological footprint analysis as a tool to assess tourism sustainability," Ecological Economics, Elsevier, vol. 43(2-3), pages 199-211, December.
    7. Matsushita, Yukitoshi & Otsu, Taisuke, 2022. "A jackknife Lagrange multiplier test with many weak instruments," LSE Research Online Documents on Economics 116392, London School of Economics and Political Science, LSE Library.
    8. Pamela Mondliwa & Sumayya Goga & Simon Roberts, 2021. "Competition, Productive Capabilities and Structural Transformation in South Africa," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 33(2), pages 253-274, April.
    9. Avishek Khanal, 2021. "The Role of ICT and Energy Consumption on Carbon Emissions: An Australian Evidence Using Cointegration Test and ARDL Long-run and Short-run Methodology," International Journal of Energy Economics and Policy, Econjournals, vol. 11(5), pages 441-449.
    10. Małgorzata Świąder & Szymon Szewrański & Jan K. Kazak & Joost Van Hoof & David Lin & Mathis Wackernagel & Armando Alves, 2018. "Application of Ecological Footprint Accounting as a Part of an Integrated Assessment of Environmental Carrying Capacity: A Case Study of the Footprint of Food of a Large City," Resources, MDPI, vol. 7(3), pages 1-18, August.
    11. Jonas Meckling & Bentley B. Allan, 2020. "The evolution of ideas in global climate policy," Nature Climate Change, Nature, vol. 10(5), pages 434-438, May.
    12. Christopher B. Barrett, 2021. "Overcoming Global Food Security Challenges through Science and Solidarity," American Journal of Agricultural Economics, John Wiley & Sons, vol. 103(2), pages 422-447, March.
    13. Adegbemi Onakoya & Babatunde Johnson & Grace Ogundajo, 2019. "Poverty and trade liberalization: empirical evidence from 21 African countries," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 32(1), pages 635-656, January.
    14. Rosamond L. Naylor & Ronald W. Hardy & Alejandro H. Buschmann & Simon R. Bush & Ling Cao & Dane H. Klinger & David C. Little & Jane Lubchenco & Sandra E. Shumway & Max Troell, 2021. "A 20-year retrospective review of global aquaculture," Nature, Nature, vol. 591(7851), pages 551-563, March.
    15. Kathleen Beegle & Aline Coudouel & Emma Monsalve, 2018. "Realizing the Full Potential of Social Safety Nets in Africa [Les filets sociaux en Afrique comment realiser pleinement leur potential?]," World Bank Publications - Books, The World Bank Group, number 29789, December.
    16. Bakry, Walid & Mallik, Girijasankar & Nghiem, Xuan-Hoa & Sinha, Avik & Vo, Xuan Vinh, 2023. "Is green finance really “green”? Examining the long-run relationship between green finance, renewable energy and environmental performance in developing countries," Renewable Energy, Elsevier, vol. 208(C), pages 341-355.
    17. Dorothée Rouzet & Aida Caldera Sánchez & Theodore Renault & Oliver Roehn, 2019. "Fiscal challenges and inclusive growth in ageing societies," OECD Economic Policy Papers 27, OECD Publishing.
    18. Pengfei Sun, 2021. "Unleashing the Power of 5GtoB in Industries," Springer Books, Springer, number 978-981-16-5082-6, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zahed Ghaderi & Behnaz Saboori & Mana Khoshkam, 2023. "Revisiting the Environmental Kuznets Curve Hypothesis in the MENA Region: The Roles of International Tourist Arrivals, Energy Consumption and Trade Openness," Sustainability, MDPI, vol. 15(3), pages 1-18, January.
    2. Balsalobre-Lorente, Daniel & Driha, Oana M. & Shahbaz, Muhammad & Sinha, Avik, 2020. "The effects of tourism and globalization over environmental degradation in developed countries," MPRA Paper 100092, University Library of Munich, Germany.
    3. Evans, Olaniyi & Mesagan, Ekundayo Peter, 2022. "ICT-trade and pollution in Africa: Do governance and regulation matter?," Journal of Policy Modeling, Elsevier, vol. 44(3), pages 511-531.
    4. Ar'anzazu de Juan & Pilar Poncela & Vladimir Rodr'iguez-Caballero & Esther Ruiz, 2022. "Economic activity and climate change," Papers 2206.03187, arXiv.org, revised Jun 2022.
    5. Fredrick Oteng Agyeman & Ma Zhiqiang & Mingxing Li & Agyemang Kwasi Sampene & Malcom Frimpong Dapaah & Emmanuel Adu Gyamfi Kedjanyi & Paul Buabeng & Yiyao Li & Saifullah Hakro & Mohammad Heydari, 2022. "Probing the Effect of Governance of Tourism Development, Economic Growth, and Foreign Direct Investment on Carbon Dioxide Emissions in Africa: The African Experience," Energies, MDPI, vol. 15(13), pages 1-24, June.
    6. Balsalobre-Lorente, Daniel & Driha, Oana M. & Sinha, Avik, 2020. "The dynamic effects of globalization process in analysing N-shaped tourism led growth hypothesis," MPRA Paper 100078, University Library of Munich, Germany.
    7. Yao, Shun & Li, Tongxin & Li, Ying, 2023. "Promoting sustainable fossil fuels resources in BRICS countries: Evaluating green policies and driving renewable energy development," Resources Policy, Elsevier, vol. 85(PA).
    8. Megha Chhabra & Arun Kumar Giri & Arya Kumar, 2023. "Does good governance and trade openness contribute to poverty reduction in BRICS? An empirical analysis," Australian Economic Papers, Wiley Blackwell, vol. 62(4), pages 650-667, December.
    9. Balsalobre-Lorente, Daniel & Abbas, Jaffar & He, Chang & Pilař, Ladislav & Shah, Syed Ale Raza, 2023. "Tourism, urbanization and natural resources rents matter for environmental sustainability: The leading role of AI and ICT on sustainable development goals in the digital era," Resources Policy, Elsevier, vol. 82(C).
    10. Herwartz, Helmut & Reimers, Hans-Eggert, 2006. "Modelling the Fisher hypothesis: World wide evidence," Economics Working Papers 2006-04, Christian-Albrechts-University of Kiel, Department of Economics.
    11. Bilal Mehmood & Syed Hassan Raza & Mahwish Rana & Huma Sohaib & Muhammad Azhar Khan, 2014. "Triangular Relationship between Energy Consumption, Price Index and National Income in Asian Countries: A Pooled Mean Group Approach in Presence of Structural Breaks," International Journal of Energy Economics and Policy, Econjournals, vol. 4(4), pages 610-620.
    12. Karasoy, Alper, 2022. "Is innovative technology a solution to Japan's long-run energy insecurity? Dynamic evidence from the linear and nonlinear methods," Technology in Society, Elsevier, vol. 70(C).
    13. Fabio Iraldo & Benedetta Nucci, 2016. "Proactive environmental management in hotels: What difference does it make?," ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, FrancoAngeli Editore, vol. 2016(2), pages 81-106.
    14. Vassilis Monastiriotis & Cigdem Borke Tunali, 2020. "The Sustainability of External Imbalances in the European Periphery," Open Economies Review, Springer, vol. 31(2), pages 273-294, April.
    15. Hyunsoo Kang, 2022. "Impacts of Income Inequality and Economic Growth on CO 2 Emissions: Comparing the Gini Coefficient and the Top Income Share in OECD Countries," Energies, MDPI, vol. 15(19), pages 1-15, September.
    16. Karaman Örsal, Deniz Dilan & Droge, Bernd, 2014. "Panel cointegration testing in the presence of a time trend," Computational Statistics & Data Analysis, Elsevier, vol. 76(C), pages 377-390.
    17. Huy Quang Doan, 2019. "Trade, Institutional Quality and Income: Empirical Evidence for Sub-Saharan Africa," Economies, MDPI, vol. 7(2), pages 1-23, May.
    18. Nicholas M. Odhiambo & Talknice Saungweme, "undated". "Does International Tourism Spur International Trade In Ssa Countries? A Dynamic Panel Data Analysis," Working Papers AESRI07, African Economic and Social Research Institute (AESRI).
    19. jean georges innocent magloire TAPE & Kouamé Jean-Marc N'DRI, 2023. "Gestion du risque opérationnel et performance des banques en zone UEMOA," Journal of Academic Finance, RED research unit, university of Gabes, Tunisia, vol. 14(2), pages 128-141, December.
    20. Huang, Haiping & Huang, Baolian & Sun, Aijun, 2023. "How do mineral resources influence eco-sustainability in China? Dynamic role of renewable energy and green finance," Resources Policy, Elsevier, vol. 85(PA).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:16:y:2024:i:1:p:429-:d:1312715. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.