Andrija Popović – University of Niš, Innovation Centre, University square 2, 18000, Niš, Republic of Serbia
Andreja Todorović – University of Niš, Innovation Centre, University square 2, 18000, Niš, Republic of Serbia
Žarko Rađenović – University of Niš, Innovation Centre, University square 2, 18000, Niš, Republic of Serbia
Keywords:
Circular economy;
Material efficiency;
Economic growth
Abstract: This research evaluates the impact of material efficiency within the circular economy (CE) framework on economic growth in European countries from 2012 to 2021. Focusing on key indicators – Recycling Rate of Municipal Waste, Resource Productivity, and Domestic Material Consumption per Capita – the research employs panel data analysis and Principal Component Analysis (PCA). The findings reveal that Resource Productivity significantly contributes to GDP per capita growth, particularly in EU27 countries, underscoring the importance of efficient resource use in driving sustainable economic development. Conversely, Resource Productivity and Domestic Material Consumption per capita exhibit a more complex relationship with economic growth, lacking statistical significance in the main models. The research highlights the necessity for policymakers to prioritize resource efficiency strategies to foster economic prosperity while advancing CE practices. These insights are crucial for designing targeted policies that balance material efficiency with broader economic objectives across diverse European contexts.
8th International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2024 – Selected Papers, Hybrid (Zayed University, Dubai, UAE), October 24, 2024
ITEMA Selected Papers published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia
ITEMA conference partners: Faculty of Economics and Business, University of Maribor, Slovenia; Faculty of Organization and Informatics, University of Zagreb, Varaždin; Faculty of Geography, University of Belgrade, Serbia; Institute of Marketing, Poznan University of Economics and Business, Poland; Faculty of Agriculture, Banat’s University of Agricultural Sciences and Veterinary Medicine ”King Michael I of Romania”, Romania
ITEMA Conference 2024 Selected Papers: ISBN 978-86-80194-90-5, ISSN 2683-5991, DOI: https://doi.org/10.31410/ITEMA.S.P.2024
Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission.
