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Which Factors Drive The Resource Efficiency in Circular Economy? A Panel Data Regression Analysis

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  • Gonca Yılmaz

    (İstanbul Üniversitesi, Sosyal Bilimler Enstitüsü, İktisat Anabilim Dalı, İstanbul, Türkiye)

Abstract

The circular economy can be defined as the efficient use of resources while keeping resources in continuous feedback loops. Therefore, the life of products can be extended by finding new value streamsfor products and/or their components and putting products into as many cycles as possible. Resources are used more efficiently under the umbrella of the circular economy; based on resource efficiency, a new product design is provided to prevent waste from occurring, and it appears as a new economic model in terms of reuse and participation in the production of waste that may occur. At this point, it is critical for the functioning of the circular economy to identify the social and economic variables that are effective on resource efficiency and to reveal them with statistical analysis. In this context, in the empirical phase of the study, resource efficiency is the dependent variable, GDP per capita is used to represent economic growth as the independent variable, the share of environmental taxes in GDP, the share of R&D expenditures in GDP, the recycling rate of municipal waste, energy efficiency variables 26 European Union (EU) countries taken into account in terms of a country group. The data set has been observed annually and ranges from 2001 to 2019, depending on data availability. Panel data analysis, which is commonly used in country modeling, was used as a method in the study. According to the findings of this study, it was seen that the coefficients of environmental taxes, R&D expenditures, recycling of municipal waste, and energy efficiency variables are significant, and these variables have positive effects on resource efficiency. GDP variable has negative effects on resource efficiency.

Suggested Citation

  • Gonca Yılmaz, 2023. "Which Factors Drive The Resource Efficiency in Circular Economy? A Panel Data Regression Analysis," EKOIST Journal of Econometrics and Statistics, Istanbul University, Faculty of Economics, vol. 0(38), pages 19-34, June.
    • Handle: RePEc:ist:ekoist:v:0:y:2023:i:38:p:19-34
    DOI: 10.26650/ekoist.2023.38.1106880
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    References listed on IDEAS

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    4. Mariana Vu?a & Mihai Vuta & Adrian Enciu & Sorin-Iulian Cioaca, 2018. "Assessment of the Circular Economy’s Impact in the EU Economic Growth," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 20(48), pages 248-248.
    5. Yingying Lu & Heinz Schandl, 2021. "Do sectoral material efficiency improvements add up to greenhouse gas emissions reduction on an economy‐wide level?," Journal of Industrial Ecology, Yale University, vol. 25(2), pages 523-536, April.
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