Leveraging the circular economy: Investment and innovation as drivers

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Abstract

The circular economy plays a central role in Europe's new agenda for sustainable economic growth. Using Eurostat and United Nations data from 28 European countries pertaining to the years between 2011 and 2017 we identified two underlying dimensions of the circular economy — environmental degradation and resource efficiency. Then, using dynamic panel models we assessed the impact that investment, human capital, innovation, and previous circularity levels have on each dimension of the circular economy identified, comparing their impacts on both. Our substantive findings demonstrate that innovation and investment significantly reduce environmental degradation, whereas only investment is also significant in promoting resource efficiency. Furthermore, our study suggests that circular economy levels have an inter-annual dependence.
Original languageEnglish
Article number132146
Pages (from-to)1-10
Number of pages10
JournalJournal of Cleaner Production
Volume360
Early online date11 May 2022
DOIs
Publication statusPublished - 1 Aug 2022

Keywords

  • Circular economy
  • European union
  • Factor analysis
  • Dynamic panel model
  • System GMM

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