Sustainable common prosperity and resource rents: Regional analysis

Abstract

This study assesses how resource rent affects sustainable common prosperity in Asian regions from 2000 to 2019. Results indicate that a 1% increase in resource rent correlates with a decrease in sustainable common prosperity by 0.15% in Eastern Asia, 0.26% in Western Asia, and 0.465% in Central Asia, highlighting the complexities of managing resource revenues. Negative coefficients for state healthcare expenditure across all regions underscore challenges in healthcare effectiveness. Unemployment adversely impacts sustainable prosperity due to income loss and strains on public resources. Economic growth positively impacts Eastern Asia but negatively affects Western and Central Asia due to resource dependency and governance issues. Good governance promotes social cohesion and equitable development. To promote sustainable common prosperity, policies should focus on transparent resource management, fostering green growth, and engaging the private sector in sustainable job creation through partnerships and skills development.