Improving Natural Resource Efficiency: The Role of Eco-Innovation, Recycling, Waste Management, Youth Education and Digital Finance to Promote Sustainability

Abstract

This research has addressed the crucial significance of natural resource efficiency for achieving sustainable development, specifically between contemporary environmental challenges. However, previous research has highlighted the relevance of eco-innovation, recycling of waste management, youth education, and digital finance for sustainability, their combined impact on natural resource efficiency remains undiscovered. The study focused on China and Korea over the period of 2000 to 2022, employing advanced panel data econometric techniques, which include Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS), for empirically testing these variables on natural resource efficiency. The outcomes shows that eco-innovation, recycling, youth education, and digital finance have significantly contributed towards enhancing the efficient use of natural resources. The outcome underscores the synergistic role of technological innovation, educational advancement, sustainable waste practices, and digital financial platforms for promoting sustainable developments. The policy implications focus on the significance of integrating these factors for fostering responsible resource sustainability in resource-abundant economies.