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Circular economy and economic instruments in the EU and Romania

Author

Listed:
  • Victor PLATON

    (Institute of National Economy,Bucharest,Romania)

  • Simona FRONE

    (Institute of National Economy,Bucharest,Romania)

  • Andreea CONSTANTINESCU

    (Institute of National Economy,Bucharest,Romania)

  • Sorina JURIST

    (Institute of National Economy,Bucharest,Romania)

  • George BANGHIORE

    (The School of Advanced Studies of the Romanian Academy (SCOSAAR))

  • Octavia MOISE

    (The School of Advanced Studies of the Romanian Academy (SCOSAAR))

Abstract

This paper aims to present and analyse some of the most relevant environmental economic instruments specific to the circular economy, focusing on waste management. Since circular economy (CE) is a related strategic objective of the European Green Deal, in the EU the most used economic instruments to promote CE are the waste management tools. The approach is meant to research the sustainability of these economic instruments in the case of the Romanian Environmental Fund. The research method used was the review of recent specific literature, the selection of the most relevant indicators and collecting statistical data corresponding to the analysed indicators. The analysis was made by processing the statistical data provided by Eurostat and the National Institute of Statistics (INSSE) with Excel software and by interpreting the results. The results of the research highlighted the current increased awareness and the occurrence of circular economy policies involving many economic instruments. Nevertheless, data analysis and the actual processing reveal a low share of revenues resulting at national level from the application of specific economic instruments for waste management. Although the value of taxes for the circular economy increased in the analysed period (2013-2023), almost 100 times (from approx. 8.000 lei to approximately 800.000 lei), their share in total taxes to the Environmental Fund decreased from over 80% in 2013 to only 11.7% in 2023. The originality of the work consists in the angle of analysis of the environmental economic and financial instruments used at national level to boost the circular economy. Also, personal conclusions and recommendations were made by the authors, based on the results of the research conducted.

Suggested Citation

  • Victor PLATON & Simona FRONE & Andreea CONSTANTINESCU & Sorina JURIST & George BANGHIORE & Octavia MOISE, 2024. "Circular economy and economic instruments in the EU and Romania," Romanian Journal of Economics, Institute of National Economy, vol. 59(2(68)), pages 5-24, December.
    • Handle: RePEc:ine:journl:v:59:y:2024:i:68:p:5-24
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    References listed on IDEAS

    as
    1. Simona Andreea Apostu & Iza Gigauri & Mirela Panait & Pedro A. Martín-Cervantes, 2023. "Is Europe on the Way to Sustainable Development? Compatibility of Green Environment, Economic Growth, and Circular Economy Issues," IJERPH, MDPI, vol. 20(2), pages 1-17, January.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    circular economy indicators; financial instruments; statistical indicators; waste management; Environmental Found in Romania;
    All these keywords.

    JEL classification:

    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth

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