Influence of Circular Economy Competitiveness and Innovation on Economic Growth: Case of EU Member States

Abstract

Research aims to analyse relationship between circular economy competitiveness and innovation indicators and economic growth in EU member states. Analysis covered period from 2012 to 2021. Circular economy concept is new economic model which should minimize waste with long – term sustainable development and well – being. Circular economy competitiveness and innovation indicators are Private investment and gross added value related to CE sectors, Persons employed in CE sectors, and Patents related to recycling and secondary raw materials. Economic growth is measured by real GDP per capita. The correlation analysis and linear regression analysis is applied. The results of regression analysis showed that there is statistical significant impact of circular economy competitiveness and innovations on economic growth in EU member states.