Enhancing sustainable growth in the global south: The role of mineral resource management, supply chain efficiency, technology advancement, and local downstream processing

Achieving sustainable economic development is a prevalent challenge faced by mineral-rich countries in the Global South. The study examines the role of mineral resource rents, government regulatory quality, technological advancement, local downstream processing, supply chain efficiency, and environmental sustainability in fostering regional development in a panel of 10 rich mineral resource-endowed countries of the Global South. Panel data from 2000 to 2022 are utilized for analysis. The study employs a panel ARDL-Bounds testing approach for parameter estimation. Results indicate that, in the long run, mineral resource rents positively boost regional economic growth, supporting the ‘Resource Blessing Hypothesis’. Conversely, a lack of technological innovation decreases regional economic growth, though it has a positive effect in the short run. Both local downstream processing and environmental sustainability have a positive impact on fostering regional growth in both the short and long run. Supply chain efficiency decreases regional growth in the short run but has a positive effect in the long run. The study concluded that sustainable practices and balanced technology strategies are essential to long-term economic prosperity. • Examine how natural resources, technology, supply chain, and processing impact Global South economies. • Mineral capital backs the resource blessing, boosting Global South economies. • Technology aids short-term, harms long-term Global South development. • Local processing and sustainability boost global South economies in both short and long terms. • For the global south, supply chain efficiency decreases in the short term and increases in the long term.