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Development of Trade in Recyclable Raw Materials: Transition to a Circular Economy

Author

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  • Olga Lingaitiene

    (Department of Business Technologies and Entrepreneurship, Faculty of Business Management, Vilnius Gediminas Technical University, Saulėtekio Av. 11, LT-10223 Vilnius, Lithuania)

  • Aurelija Burinskiene

    (Department of Business Technologies and Entrepreneurship, Faculty of Business Management, Vilnius Gediminas Technical University, Saulėtekio Av. 11, LT-10223 Vilnius, Lithuania)

Abstract

Mechanisms for sectoral change in the economy are being used to move towards a circular economy. Trade in recycled raw materials could contribute to circular economy development and is treated as the main circular indicator used to monitor progress toward a circular economy. However, the research area surrounding the transition to a circular economy lacks adequate tools, as until now, the circular economy has been investigated from an evolutionary and ecological perspective. In the article, the authors conduct a study identifying important variables for trade in recycled raw materials as the main indicator of CE development. The authors propose a two-step methodology for researching the links between main trade in recyclables and circular economy indicators. The authors found correlations between trade in recyclables and private investments in circular economy sectors. The authors used panel data analysis, compiled a regression matrix, and formed a dynamic regression model. The statistical tests showed that the formed regression model has no significant autocorrelation and heteroscedasticity. The framework can be applied in practice to serve policymakers and the academic community interested in analyzing the move toward a circular economy and its main circular indicators.

Suggested Citation

  • Olga Lingaitiene & Aurelija Burinskiene, 2024. "Development of Trade in Recyclable Raw Materials: Transition to a Circular Economy," Economies, MDPI, vol. 12(2), pages 1-24, February.
    • Handle: RePEc:gam:jecomi:v:12:y:2024:i:2:p:48-:d:1338660
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    References listed on IDEAS

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    1. Pati, Rupesh Kumar & Vrat, Prem & Kumar, Pradeep, 2006. "Economic analysis of paper recycling vis-a-vis wood as raw material," International Journal of Production Economics, Elsevier, vol. 103(2), pages 489-508, October.
    2. Shunta Yamaguchi, 2018. "International Trade and the Transition to a More Resource Efficient and Circular Economy: A Concept Paper," OECD Trade and Environment Working Papers 2018/03, OECD Publishing.
    3. van Ruijven, Bas J. & van Vuuren, Detlef P. & Boskaljon, Willem & Neelis, Maarten L. & Saygin, Deger & Patel, Martin K., 2016. "Long-term model-based projections of energy use and CO2 emissions from the global steel and cement industries," Resources, Conservation & Recycling, Elsevier, vol. 112(C), pages 15-36.
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