Environmental Factors and Sustainability of the Circular Economy Model at the European Union Level
| Autor: | Carmen Lenuta Trica, Cristian Silviu Banacu, Mihail Busu |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2019 |
| Předmět: |
Natural resource economics
020209 energy Geography Planning and Development TJ807-830 02 engineering and technology 010501 environmental sciences Management Monitoring Policy and Law recycling econometric model TD194-195 01 natural sciences Renewable energy sources Resource productivity environmental factors 0202 electrical engineering electronic engineering information engineering Economics media_common.cataloged_instance GE1-350 European union 0105 earth and related environmental sciences media_common Sustainable development quantitative analysis Environmental effects of industries and plants Renewable Energy Sustainability and the Environment Circular economy circular economy sustainability Environmental sciences Econometric model Quantitative analysis (finance) Sustainability Panel data |
| Zdroj: | Sustainability, Vol 11, Iss 4, p 1114 (2019) Sustainability Volume 11 Issue 4 |
| ISSN: | 2071-1050 |
| Popis: | In this paper, we develop a methodology for studying the sustainability of the circular economy model based on environmental factors. In open-end systems, waste is converted back to materials and objects through recycling hence, a linear economy is transformed into a circular economy. Environmental factors support an argument for the sustainable implementation of a circular economy. As humans are producing and using more and more matter and energy for the economy, the environment and recycling become more and more important factors affecting public health. The aim of this study is to present the economic factors of the sustainable development of a circular economy, based on the findings of the economic literature in the field. Starting with the Mankiw&ndash Romer&ndash Weil model of economic growth based on resource productivity, environmental employment, recycling rate and environmental innovation, three statistical hypotheses were validated through a panel data model with the use of the statistical software EViews 9. An econometric analysis was performed for 27 European Union countries between 2007 and 2016. The results highlight that the extended Mankiw&ndash Weil model is determined by resource productivity, environmental employment, recycling rate and environmental innovation. Investing in recycling infrastructure and innovative resources is essential for the econometric model presented in our analysis, which is in line with the aims of environmental protection and sustainable economic growth. |
| Databáze: | OpenAIRE |
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