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Causality and Correlation in the Maritime’s Circular Economy—A Correlation and Causal Analysis Using a Panel of EU Countries

In: Advances in Quantitative Methods for Economics and Business

Author

Listed:
  • José R. Pires Manso

    (University Beira Interior)

  • Jaime Pablo Valenciano

    (University of Almeria)

  • Juan Milán García

    (University of Almeria)

  • Rosa María Martínez Vázquez

    (University of Almeria)

Abstract

Blue economics (BE) research, maritime economy (ME), causality, and correlation, among their explicative factors, are topics that are attracting international experts and researchers. This study adds to knowledge associating the BE or ME to several other factors related to it. A selected sample of BE factors was used with a panel of EU countries. This research ads knowledge to the scientific literature in the field, thus filling a gap, use these factors and special techniques to explain either economic growth, or income pc (IPC) increase tags, identifying correlations among the factors and discover causal relationships among these factors that help decision makers to select the best sectors to invest to reach 2030 UNSDG. In addition, this study recognises the importance of the circular economy (CE), which focuses on efficient resource management and waste reduction. CE seeks to minimize waste and promote the reuse, recycling, and recovery of resources. In the context of the BE, the CE plays a key role in managing locally generated waste that affects the seas and oceans. Correlation and causality analytical methods help us to study and distinguish the complexity of relationships among the various factors related to the BE and ME, and their influence on IPC. The data used by this research were collected from the Eurostat database and the span period 2010–2020 were selected. The literature review undertaken, and the empirical analysis shows evidence that IPC is associated to several factors of the BE. The results are also in order with the results presented by several authors, high lightening the importance of several important factors considered for increasing IPC, and for reaching some of the 2030 UNSDG. Among the more influent factors we identified production of renewable ocean energy, GHGE, HDI, living and non-living resources, production fishing, maritime transport and shipbuilding and repair.

Suggested Citation

  • José R. Pires Manso & Jaime Pablo Valenciano & Juan Milán García & Rosa María Martínez Vázquez, 2025. "Causality and Correlation in the Maritime’s Circular Economy—A Correlation and Causal Analysis Using a Panel of EU Countries," Springer Books, in: Salvador Cruz Rambaud & Juan Evangelista Trinidad Segovia & Catalina B. García-García (ed.), Advances in Quantitative Methods for Economics and Business, chapter 0, pages 403-416, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-84782-0_19
    DOI: 10.1007/978-3-031-84782-0_19
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