IDEAS home Printed from https://ideas.repec.org/a/vrs/poicbe/v17y2023i1p1487-1496n28.html
   My bibliography  Save this article

The Impact of Circular Economy on Economic Development A Review of EU's Countries

Author

Listed:
  • Maricuţ Alin-Cristian

    (Bucharest University of Economic Studies, Bucharest, Romania)

  • Grădinaru Giani-Ionel

    (Bucharest University of Economic Studies, Bucharest, Romania National Institute of Economy, Romanian Academy, Bucharest, Romania)

Abstract

Over time, the concept of economic development has been the cause of debates in the research environment. Some of the researchers consider the level of economic development of a country to be characterized by high levels of the main macroeconomic aggregates, while another part supports the idea of uniform economic development with a high level of social inclusion. Regardless of the definition of the concept of economic development, it has been proven that a major positive impact is generated by the sustainable development strategy, especially in the light of the concept of circular economy. Therefore, the study addresses the level of economic development of the member states of the European Union based on the impact generated by the circular economy. In addition, based on the analysis carried out, the paper aims to identify the dependency ratio between the variables associated with the circular economy concept and the level of economic development. In order to achieve these goals, a panel regression model was estimated, for all member states of the European Union, on the time horizon 2011-2020. The model used as dependent variable “the level of economic development”, and the independent variables were made up of variables associated with the circular economy. The results of this analysis reveal that there are individual effects on both dimensions associated with the analysis (cross-sectional, time series), which leads to the idea that each country is influenced in the process of economic development through the circular economy by its own specificities.

Suggested Citation

  • Maricuţ Alin-Cristian & Grădinaru Giani-Ionel, 2023. "The Impact of Circular Economy on Economic Development A Review of EU's Countries," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 17(1), pages 1487-1496, July.
    • Handle: RePEc:vrs:poicbe:v:17:y:2023:i:1:p:1487-1496:n:28
    DOI: 10.2478/picbe-2023-0134
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/picbe-2023-0134
    Download Restriction: no
    File URL: https://libkey.io/10.2478/picbe-2023-0134?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Viktorija Skvarciany & Indre Lapinskaite & Gintare Volskyte, 2021. "Circular economy as assistance for sustainable development in OECD countries," Oeconomia Copernicana, Institute of Economic Research, vol. 12(1), pages 11-34, March.
    2. Kirchherr, Julian & Reike, Denise & Hekkert, Marko, 2017. "Conceptualizing the circular economy: An analysis of 114 definitions," Resources, Conservation & Recycling, Elsevier, vol. 127(C), pages 221-232.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Altaf Hossain Molla & Hilal Shams & Zambri Harun & Mohd Nizam Ab Rahman & Hawa Hishamuddin, 2022. "An Assessment of Drivers and Barriers to Implementation of Circular Economy in the End-of-Life Vehicle Recycling Sector in India," Sustainability, MDPI, vol. 14(20), pages 1-25, October.
    2. Luis Diaz‐Balteiro & Carlos Romero & Silvestre García de Jalón, 2022. "An analysis of the degree of circularity of the wood products industry in Europe," Journal of Industrial Ecology, Yale University, vol. 26(4), pages 1350-1363, August.
    3. Pina Puntillo, 2023. "Circular economy business models: Towards achieving sustainable development goals in the waste management sector—Empirical evidence and theoretical implications," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(2), pages 941-954, March.
    4. Tina Wiegand & Martin Wynn, 2023. "Sustainability, the Circular Economy and Digitalisation in the German Textile and Clothing Industry," Sustainability, MDPI, vol. 15(11), pages 1-30, June.
    5. German Arana‐Landin & Waleska Sigüenza & Beñat Landeta‐Manzano & Iker Laskurain‐Iturbe, 2024. "Circular economy: On the road to ISO 59000 family of standards," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 1977-2009, May.
    6. Abdulmajeed Almadhi & Abdelhakim Abdelhadi & Rakan Alyamani, 2023. "Moving from Linear to Circular Economy in Saudi Arabia: Life-Cycle Assessment on Plastic Waste Management," Sustainability, MDPI, vol. 15(13), pages 1-22, July.
    7. Hu, Xueyue & Wang, Chunying & Elshkaki, Ayman, 2024. "Material-energy Nexus: A systematic literature review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 192(C).
    8. Sergio Cappucci & Serena Nappi & Andrea Cappelli, 2022. "Green Public Areas and Urban Open Spaces Management: New GreenCAL Tool Algorithms and Circular Economy Implications," Land, MDPI, vol. 11(6), pages 1-25, June.
    9. Monia Niero & Charlotte L. Jensen & Chiara Farné Fratini & Jens Dorland & Michael S. Jørgensen & Susse Georg, 2021. "Is life cycle assessment enough to address unintended side effects from Circular Economy initiatives?," Journal of Industrial Ecology, Yale University, vol. 25(5), pages 1111-1120, October.
    10. Jaroslaw Golebiewski & Josu Takala & Oskar Juszczyk & Nina Drejerska, 2019. "Local contribution to circular economy. A case study of a Polish rural municipality," Economia agro-alimentare, FrancoAngeli Editore, vol. 21(3), pages 771-791.
    11. Franco Fassio & Chiara Chirilli, 2023. "The Circular Economy and the Food System: A Review of Principal Measuring Tools," Sustainability, MDPI, vol. 15(13), pages 1-22, June.
    12. S. Bhattacharya & R. Ajwani-Ramchandani & Shishir Kumar Jha & C.J. Chiappetta Jabbour & V.G. Venkatesh, 2023. "Prologue for the Virtual Special Issue on Social Circular Consumption- Exploring the Role of the Bottom of Pyramid," Post-Print hal-04458204, HAL.
    13. Eugenia Rossi di Schio & Vincenzo Ballerini & Jan Kašpar & Manuela Neri & Mariagrazia Pilotelli & Edoardo Alessio Piana & Paolo Valdiserri, 2024. "Applicability of Face Masks as Recyclable Raw Materials for Self-Made Insulation Panels," Energies, MDPI, vol. 17(7), pages 1-15, March.
    14. Mia B. Münster, 2024. "Adaptive Reuse: Atmospherics in Buildings Repurposed as Coffee Shops," Sustainability, MDPI, vol. 16(4), pages 1-32, February.
    15. D. D’Amato, 2021. "Sustainability Narratives as Transformative Solution Pathways: Zooming in on the Circular Economy," Circular Economy and Sustainability, Springer, vol. 1(1), pages 231-242, June.
    16. Florian Fizaine, 2021. "La croissance verte est-elle durable et compatible avec l’économie circulaire ? Une approche par l’identité IPAT," Post-Print hal-03884377, HAL.
    17. Vibeke Grupe Larsen & Valentina Antoniucci & Nicola Tollin & Peter Andreas Sattrup & Krister Jens & Morten Birkved & Tine Holmboe & Giuliano Marella, 2023. "A Methodological Framework to Foster Social Value Creation in Architectural Practice," Sustainability, MDPI, vol. 15(3), pages 1-25, January.
    18. Baoting Peng & Xin Shen, 2024. "Does Environmental Regulation Affect Circular Economy Performance? Evidence from China," Sustainability, MDPI, vol. 16(11), pages 1-19, May.
    19. Steliana Rodino & Ruxandra Pop & Cristina Sterie & Andreea Giuca & Eduard Dumitru, 2023. "Developing an Evaluation Framework for Circular Agriculture: A Pathway to Sustainable Farming," Agriculture, MDPI, vol. 13(11), pages 1-24, October.
    20. Taichi Suzuki & Ichiro Daigo, 2024. "Recycled Content for Metals with Refined Classification of Metal Scrap: Micro-Level Circularity Indicator in Accordance with Macro-Level System," Sustainability, MDPI, vol. 16(16), pages 1-13, August.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:poicbe:v:17:y:2023:i:1:p:1487-1496:n:28. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.