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Modeled Interdependencies between Intellectual Capital, Circular Economy and Economic Growth in the Context of Bioeconomy

Author

Listed:
  • Alexandru –Mircea Nedelea

    (Stefan cel Mare University, Suceava, Romania)

  • Marilena Mironiuc

    (”Alexandru Ioan Cuza” University, Iasi, Romania)

  • Maria Carmen Huian

    (”Alexandru Ioan Cuza” University, Iasi, Romania)

  • Mihaela B?rsan

    (Stefan cel Mare University, Suceava, Romania)

  • Maria Viorica Bedrule-Grigoruta

    (”Alexandru Ioan Cuza” University, Iasi, Romania)

Abstract

The bioeconomy-specific paradigm has changed the perception of economic growth in the sense that the growth limits do not matter, but new growth opportunities. These are focused on: knowledge, investment in research, innovation and technological performance, which give meaning to the concept of smart economic growth;, green energy, low-carbon policies, reduced environmental collateral effects, which are attributes of sustainable economic growth. The paper dwells on the influence of bioeconomy on economic growth through an empirical study conducted between 2008 and 2015, using cross-sectional analysis applied to the interconnections between the data relative to the EU-28 member countries. Three econometric models, based on the Ordinary Least Square regression, have been developed to highlight the interdependencies between intellectual capital, circular economy and economic growth in the context of bioeconomy. The number of patents is the proxy variable designed to quantify innovative performance in the bioeconomic sectors, value added is the dependent variable that measures the achievements specific to the circular economy and gross domestic product quantifies the sensitivity of economic growth to the use of intangible resources (knowledge / intellectual capital) and of renewable resources used in cascade (specific to circular economy). The findings confirm the positive influence of research-development funding and of fiscal freedom on intellectual property rights materialized in patents. The added value created in circular economy responds well to recyclable raw material export, to population employment in circular economy and to municipal waste recycling rate. The productivity of bioeconomy employees positively influences economic growth in the EU-28. We also focused on negative aspects such as the poor results of innovation in relation to the allocated financing resources and the insufficient use of energy from renewable sources in the production process.

Suggested Citation

  • Alexandru –Mircea Nedelea & Marilena Mironiuc & Maria Carmen Huian & Mihaela B?rsan & Maria Viorica Bedrule-Grigoruta, 2018. "Modeled Interdependencies between Intellectual Capital, Circular Economy and Economic Growth in the Context of Bioeconomy," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 20(49), pages 616-616, August.
    • Handle: RePEc:aes:amfeco:v:20:y:2018:i:49:p:616
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    Cited by:

    1. Sonia Herrero-Luna & Marta Ferrer-Serrano & María Pilar Latorre-Martínez, 2022. "Circular Economy and Innovation: A Systematic Literature Review," Central European Business Review, Prague University of Economics and Business, vol. 2022(1), pages 65-84.
    2. Nicolae Pintilie, 2021. "A Review Of Europe’S Transition From Fossil Fuels To Renewable Energy Using Circular Economy Principles," Business Excellence and Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 11(2), pages 95-107, June.
    3. Anna Manuella Melo Nunes & Luiz Moreira Coelho Junior & Raphael Abrahão & Edvaldo Pereira Santos Júnior & Flávio José Simioni & Paulo Rotella Junior & Luiz Célio Souza Rocha, 2023. "Public Policies for Renewable Energy: A Review of the Perspectives for a Circular Economy," Energies, MDPI, vol. 16(1), pages 1-28, January.
    4. Alin-Ionuț Dorobanțu, 2020. "Analysis Of The Relationship Between Innovation And Performance. The Case Of Romania Versus The Countries Of Western Europe," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 1(48), pages 87-98, August.
    5. Schubert, Torben & Jäger, Angela & Türkeli, Serdar & Visentin, Fabiana, 2020. "Addressing the productivity paradox with big data: A literature review and adaptation of the CDM econometric model," MERIT Working Papers 2020-050, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).

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    More about this item

    Keywords

    bioeconomy; intellectual property; circular economy; economic growth; environmental performance.;
    All these keywords.

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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