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Adopting Circular Economy at the European Union Level and Its Impact on Economic Growth

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  • Mihail Busu

    (Faculty of Business Administration in Foreign Languages, The Bucharest University of Economics Studies, 010374 Bucharest, Romania)

Abstract

Based on the findings of the economic studies on the implications of industrialization in the case of growing economies, this study aims to present the economic factors that are at the basis of the development of circular economy at the European Union level. Starting with the model of economic growth based on the recycling rate of municipal waste, human capital, productivity of the resources, and green energy use, three statistical hypotheses were validated through a panel data model with the use of EViews 10 statistical software. The analysis was conducted for 27 European Union countries during the time frame 2008–2017. The paper highlights that the circular economy model is determined by resource productivity, labor employed in environmental protection, recycling rate of municipal waste, and renewable energy use.

Suggested Citation

  • Mihail Busu, 2019. "Adopting Circular Economy at the European Union Level and Its Impact on Economic Growth," Social Sciences, MDPI, vol. 8(5), pages 1-12, May.
    • Handle: RePEc:gam:jscscx:v:8:y:2019:i:5:p:159-:d:234154
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    Cited by:

    1. Emmanuel Ebo Arthur & Solomon Gyamfi & Wolfgang Gerstlberger & Jan Stejskal & Viktor Prokop, 2023. "Towards Circular Economy: Unveiling Heterogeneous Effects of Government Policy Stringency, Environmentally Related Innovation, and Human Capital within OECD Countries," Sustainability, MDPI, vol. 15(6), pages 1-18, March.
    2. Azwardi & Alghifari Mahdi Imago & Wahyu Aji Wijaya, 2023. "The Concept of Waste Management on Economic Development in the European Union," International Journal of Energy Economics and Policy, Econjournals, vol. 13(1), pages 1-6, January.
    3. Francisco Sánchez-Cubo & José Mondéjar-Jiménez & Alejandro García-Pozo & Guillermo Ceballos-Santamaría, 2021. "A Study of the Wages in the Spanish Energy Sector," Energies, MDPI, vol. 14(13), pages 1-10, July.
    4. Mihail Busu & Carmen Lenuta Trica, 2019. "Sustainability of Circular Economy Indicators and Their Impact on Economic Growth of the European Union," Sustainability, MDPI, vol. 11(19), pages 1-13, October.
    5. Ajayi, V. & Pollitt, M .G., 2022. "Green growth and net zero policy in the UK: some conceptual and measurement issues," Cambridge Working Papers in Economics 2255, Faculty of Economics, University of Cambridge.
    6. Camelia Delcea & Ionuț Nica & Irina Georgescu & Nora Chiriță & Cristian Ciurea, 2024. "Integrating Fuzzy MCDM Methods and ARDL Approach for Circular Economy Strategy Analysis in Romania," Mathematics, MDPI, vol. 12(19), pages 1-35, September.
    7. Joanicjusz Nazarko & Ewa Chodakowska & Łukasz Nazarko, 2022. "Evaluating the Transition of the European Union Member States towards a Circular Economy," Energies, MDPI, vol. 15(11), pages 1-24, May.
    8. Mihail Busu, 2019. "The Role of Renewables in a Low-Carbon Society: Evidence from a Multivariate Panel Data Analysis at the EU Level," Sustainability, MDPI, vol. 11(19), pages 1-16, September.
    9. Fernando E. Garcia-Muiña & Rocío González-Sánchez & Anna Maria Ferrari & Lucrezia Volpi & Martina Pini & Cristina Siligardi & Davide Settembre-Blundo, 2019. "Identifying the Equilibrium Point between Sustainability Goals and Circular Economy Practices in an Industry 4.0 Manufacturing Context Using Eco-Design," Social Sciences, MDPI, vol. 8(8), pages 1-22, August.
    10. Peter Tauš & Zuzana Šimková & Michal Cehlár & Ivana Krajňáková & Július Drozda, 2023. "Fulfillment of EU Goals in the Field of Waste Management through Energy Recovery from Waste," Energies, MDPI, vol. 16(4), pages 1-18, February.
    11. Katarzyna Chudy-Laskowska & Tomasz Pisula, 2023. "Forecasting Household Energy Consumption in European Union Countries: An Econometric Modelling Approach," Energies, MDPI, vol. 16(14), pages 1-21, July.
    12. Roman Lacko & Zuzana Hajduová & Marcin Zawada, 2021. "The Efficiency of Circular Economies: A Comparison of Visegrád Group Countries," Energies, MDPI, vol. 14(6), pages 1-13, March.
    13. José Miguel Rodríguez-Antón & Luis Rubio-Andrada & María Soledad Celemín-Pedroche & Soraya María Ruíz-Peñalver, 2022. "From the circular economy to the sustainable development goals in the European Union: an empirical comparison," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 22(1), pages 67-95, March.
    14. Eglantina Hysa & Alba Kruja & Naqeeb Ur Rehman & Rafael Laurenti, 2020. "Circular Economy Innovation and Environmental Sustainability Impact on Economic Growth: An Integrated Model for Sustainable Development," Sustainability, MDPI, vol. 12(12), pages 1-16, June.
    15. D'Adamo, Idiano & Gastaldi, Massimo & Rosa, Paolo, 2020. "Recycling of end-of-life vehicles: Assessing trends and performances in Europe," Technological Forecasting and Social Change, Elsevier, vol. 152(C).
    16. Cristian Silviu Banacu & Mihail Busu & Raluca Ignat & Carmen Lenuta Trica, 2019. "Entrepreneurial Innovation Impact on Recycling Municipal Waste. A Panel Data Analysis at the EU Level," Sustainability, MDPI, vol. 11(18), pages 1-13, September.
    17. Henrique Oliveira & Víctor Moutinho, 2021. "Renewable Energy, Economic Growth and Economic Development Nexus: A Bibliometric Analysis," Energies, MDPI, vol. 14(15), pages 1-28, July.
    18. Armand Kasztelan, 2020. "How Circular Are the European Economies? A Taxonomic Analysis Based on the INEC (Index of National Economies’ Circularity)," Sustainability, MDPI, vol. 12(18), pages 1-11, September.
    19. Luiz C. Terra dos Santos & Adrielle Frimaio & Biagio F. Giannetti & Feni Agostinho & Gengyuan Liu & Cecilia M. V. B. Almeida, 2023. "Integrating Environmental, Social, and Economic Dimensions to Monitor Sustainability in the G20 Countries," Sustainability, MDPI, vol. 15(8), pages 1-18, April.
    20. Giuseppe Craparo & Elisa Isabel Cano Montero & Jesús Fernando Santos Peñalver, 2024. "Trends in the circular economy applied to the agricultural sector in the framework of the SDGs," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(10), pages 26699-26729, October.
    21. Zvonimira Sverko Grdic & Marinela Krstinic Nizic & Elena Rudan, 2020. "Circular Economy Concept in the Context of Economic Development in EU Countries," Sustainability, MDPI, vol. 12(7), pages 1-13, April.
    22. Eva Mihaliková & Marcela Taušová & Katarína Čulková, 2022. "Public Expenses and Investment in Environmental Protection and Its Impact on Waste Management," Sustainability, MDPI, vol. 14(9), pages 1-19, April.

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