Sustainable Resource Utilization in Global Economics Background: Outlook and Challenges

Dear Colleagues,

Over the decades, the role of natural resources in sustainable economic growth and development has gained considerable attention among research scholars, regulators, and other stakeholders, as is reflected in the view that “Clear waters and green mountains are as good as mountains of gold and silver.”

Abdulahi et al. (2019) argue that economies specializing in natural resource extraction and export experience comparatively low rates of economic growth, even though, intuitively, resource abundance increases wealth and purchasing power. The dichotomous findings in the resource and sustainable economic development literature have created the natural resource curse paradox—a paradox in which countries with an abundance of natural resources experience stagnant or even negative economic growth (Abdulahi et al., 2019; Badeeb et al., 2017).

Abdulahi et al. (2019) attribute this paradox to the following three reasons. First, natural resource extraction processes consume economic resources that could otherwise be allocated to industries that are thought to promote long-term economic growth, such as manufacturing or services. Second, global prices for natural resources are volatile and thus destabilize exporting economies. Third, the concentrated nature of many natural resource supplies facilitates rent capture by non-inclusive governments, whose institutions support the retention of political power rather than the promotion of economic growth.

Thus, it becomes imperative to find out the avenues for Sustainable Resource Utilizaion to determine the optimum possible benefits, considering the specific economics background of the respective region/economy/group.

The goal of this Special Issue may be accomplished by preferably empirical contributions, devoted to extending resource economics and sustainable development literature on various paradigms of the effective and efficient utilization of natural resources. With this in mind, we would be delighted to receive scholarly contributions to “Sustainable Resource Utilizaion in Global Economics Background: Outlook and Challenges”. We invite authors to come up with their own empirical work concerning the effective and efficient resource utilization of natural resources. The scope of this Special Issue encompasses (but is not limited to):

• Implementing novel statistical and econometrical models in developing new tools and solutions to the forecasting issues associated with classical modelling;
• Marginal trade-off (cost–benefit) analysis of resources for sustainable development;
• Stochastic analysis gauging the efficiency of natural resources for sustainable development;
• Application of dynamically simulated ARDL to examine the effect of positive and negative shocks in a variable of interest (for example, sustainable economic development, natural resources, etc.)

Dr. Muhammad Asif Khan
Prof. Dr. Gyuricza Csaba
Dr. Judit Oláh
Guest Editors

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