Innovative strategies for green economic recovery: Enhancing efficiency in resource markets

The inefficiency and environmental degradation currently found in China's resource markets are hindering the country's green economic recovery. China has undergone significant economic transformations, but these have often been at the expense of environmental sustainability. This is particularly the case in resource markets. By employing a nonlinear autoregressive distributed lag (NARDL) model, this research investigates the impact of innovative strategies aimed at enhancing efficiency and sustainability in these markets. The years covered by the study are from 1985 to 2020. The study focuses on the role of technological advancements, policy reforms, and market-based incentives in fostering a green economic recovery. The results reveal that innovative strategies have a nonlinear, asymmetric impact on resource market efficiency. Specifically, technological innovations and market-based incentives show a more immediate effect, while policy reforms have a long-term impact. These findings offer a nuanced understanding of the pathways for green economic recovery in China, suggesting that a multi-faceted approach is essential if sustainable development is to be achieved.