Navigating the path to sustainable resource management: Nexus between financial openness, technological advancements, and mineral resources volatility

This study delves into the intricate relationship between financial openness, technological advancements, and mineral resource volatility on a global scale. Using the CS-ARDL model, we explore these variables' short- and long-term connections. The findings highlight the significant impact of financial openness and technological development on the long-run volatility of mineral resources in diverse regions, including Asia, Africa, America, and Europe. Financial openness and national income reduce long-run volatility across all regions, while technological advancements contribute to decreased volatility globally, particularly in Asia and Europe. These results emphasize the critical need to manage financial openness effectively and promote technological advancements for stable and sustainable mineral resource management. Policymakers are urged to implement appropriate regulations and strategies to harness the benefits of financial openness and technological progress while mitigating potential risks in the mineral resources sector. •Financial openness and technological advancements shape long-run mineral resources volatility globally.•National income and financial openness reduce mineral resources volatility across all regions.•Technological advancements contribute to decreased mineral resources volatility, especially in Asia and Europe.•Effective financial openness and technology management is crucial for stable mineral resource management.•Policymakers should implement regulations and strategies to balance openness and stability in mineral resources sector.