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Mihail Busu; Attila Gyorgy. The Mediating Role of the Ability to Adapt to Teleworking to Increase the Organizational Performance. www.amfiteatrueconomic.ro 2021, 23, 1 .
AMA StyleMihail Busu, Attila Gyorgy. The Mediating Role of the Ability to Adapt to Teleworking to Increase the Organizational Performance. www.amfiteatrueconomic.ro. 2021; 23 (58):1.
Chicago/Turabian StyleMihail Busu; Attila Gyorgy. 2021. "The Mediating Role of the Ability to Adapt to Teleworking to Increase the Organizational Performance." www.amfiteatrueconomic.ro 23, no. 58: 1.
The purpose of this paper is to evaluate the impact of the Romanian START program, which provides public funds for establishing new firms or further developing existing firms. Using data on two waves of firms that were financed, in 2013 and 2014, which we regard as treated firms, and their corresponding firms that did not receive funding, we apply several methods aimed at revealing the impact of the program, such as matching difference-in-difference and time-varying treatment effects. Our findings show that the requirements of the program shaped the performance of the financed firms, which had higher revenues and productivity and a lower debt ratio. The impact on profit is weak, however, as the enterprises were mostly encouraged to extend their activity.
Mihail Busu; Petre Caraiani; Shahrazad Hadad; Cynthia Bianka Incze; Madalina Vanesa Vargas. The Performance of Publicly Funded Startups in Romania. Economic Systems 2021, 100908 .
AMA StyleMihail Busu, Petre Caraiani, Shahrazad Hadad, Cynthia Bianka Incze, Madalina Vanesa Vargas. The Performance of Publicly Funded Startups in Romania. Economic Systems. 2021; ():100908.
Chicago/Turabian StyleMihail Busu; Petre Caraiani; Shahrazad Hadad; Cynthia Bianka Incze; Madalina Vanesa Vargas. 2021. "The Performance of Publicly Funded Startups in Romania." Economic Systems , no. : 100908.
This paper analyses the public procurement auctions for snow removal contracts to find out whether bid-rigging occurred. Due to the limited participation in the auction processes, detection of anticompetitive agreements was possible. The econometric analysis used in our study supported the findings of a cartel agreement. Cluster analysis, statistical hypothesis, normality and symmetry and nonparametric tests reveal two types of auctions: competitive and noncompetitive bids. The aim of this paper is to analyze the public procurement auctions with nonparametric statistical methods. Our findings are in line with the literature in the field.
Mihail Busu; Cristian Busu. Detecting Bid-Rigging in Public Procurement. A Cluster Analysis Approach. Administrative Sciences 2021, 11, 13 .
AMA StyleMihail Busu, Cristian Busu. Detecting Bid-Rigging in Public Procurement. A Cluster Analysis Approach. Administrative Sciences. 2021; 11 (1):13.
Chicago/Turabian StyleMihail Busu; Cristian Busu. 2021. "Detecting Bid-Rigging in Public Procurement. A Cluster Analysis Approach." Administrative Sciences 11, no. 1: 13.
Kalman filtering is a linear quadratic estimation (LQE) algorithm that uses a time series of observed data to produce estimations of unknown variables. The Kalman filter (KF) concept is widely used in applied mathematics and signal processing. In this study, we developed a methodology for estimating Gaussian errors by minimizing the symmetric loss function. Relevant applications of the kinetic models are described at the end of the manuscript.
Cristian Busu; Mihail Busu. An Application of the Kalman Filter Recursive Algorithm to Estimate the Gaussian Errors by Minimizing the Symmetric Loss Function. Symmetry 2021, 13, 240 .
AMA StyleCristian Busu, Mihail Busu. An Application of the Kalman Filter Recursive Algorithm to Estimate the Gaussian Errors by Minimizing the Symmetric Loss Function. Symmetry. 2021; 13 (2):240.
Chicago/Turabian StyleCristian Busu; Mihail Busu. 2021. "An Application of the Kalman Filter Recursive Algorithm to Estimate the Gaussian Errors by Minimizing the Symmetric Loss Function." Symmetry 13, no. 2: 240.
In the past decades, carbon dioxide (CO2) emissions have become an important issue for many researchers and policy makers. The focus of scientists and experts in the area is mainly on lowering the CO2 emission levels. In this article, panel data is analyzed with an econometric model, to estimate the impact of renewable energy, biofuels, bioenergy efficiency, population, and urbanization level on CO2 emissions in European Union (EU) countries. Our results underline the fact that urbanization level has a negative impact on increasing CO2 emissions, while biofuels, bioenergy production, and renewable energy consumption have positive and direct impacts on reducing CO2 emissions. Moreover, population growth and urbanization level are negatively correlated with CO2 emission levels. The authors’ findings suggest that the public policies at the national level must encourage the consumption of renewable energy and biofuels in the EU, while population and urbanization level should come along with more restrictions on CO2 emissions.
Mihail Busu; Alexandra Catalina Nedelcu. Analyzing the Renewable Energy and CO2 Emission Levels Nexus at an EU Level: A Panel Data Regression Approach. Processes 2021, 9, 130 .
AMA StyleMihail Busu, Alexandra Catalina Nedelcu. Analyzing the Renewable Energy and CO2 Emission Levels Nexus at an EU Level: A Panel Data Regression Approach. Processes. 2021; 9 (1):130.
Chicago/Turabian StyleMihail Busu; Alexandra Catalina Nedelcu. 2021. "Analyzing the Renewable Energy and CO2 Emission Levels Nexus at an EU Level: A Panel Data Regression Approach." Processes 9, no. 1: 130.
In this paper, starting from the conceptual model of the rational behavior theory developed by Icek Ajzen, the authors develop a behavioral model of rational expectations of the managerial decisions in order to determine the influence of the behavior of the undertakings on a competitive environmental market. The data were collected between 1 May 2019–30 June 2019 with the help of a questionnaire addressed to the employees and managers of the companies engaged in the green procurement processes in Romania. The sample volume was 160 and the data was analyzed with partial least square structural equation modeling (PLS-SEM) method and by using the statistical software Smart-PLS 3.2.8. Starting from the relevant economic literature in the field of rational behavior, the article identifies the behavioral indicators that underlie the decision to invest in this market. These indicators are the independent variables that model the impact of rational behavioral theory on managerial decisions. The conclusions of the study confirm the theoretical aspects presented in the article, emphasizing that the managerial decisions based on rational behavior theory are the direct result of the cooperation of several factors, such as the strategic vision, innovation, regulation, and the level of competences of the human factor.
Cristian Busu; Mihail Busu. Research on the Factors of Competition in the Green Procurement Processes: A Case Study for the Conditions of Romania Using PLS-SEM Methodology. Mathematics 2020, 9, 16 .
AMA StyleCristian Busu, Mihail Busu. Research on the Factors of Competition in the Green Procurement Processes: A Case Study for the Conditions of Romania Using PLS-SEM Methodology. Mathematics. 2020; 9 (1):16.
Chicago/Turabian StyleCristian Busu; Mihail Busu. 2020. "Research on the Factors of Competition in the Green Procurement Processes: A Case Study for the Conditions of Romania Using PLS-SEM Methodology." Mathematics 9, no. 1: 16.
Mihail Busu; Attila Gyorgy. Modelling the Impact of Heavy Work Investments on Employees Satisfaction. www.amfiteatrueconomic.ro 2020, 22, 1 .
AMA StyleMihail Busu, Attila Gyorgy. Modelling the Impact of Heavy Work Investments on Employees Satisfaction. www.amfiteatrueconomic.ro. 2020; 22 (S14):1.
Chicago/Turabian StyleMihail Busu; Attila Gyorgy. 2020. "Modelling the Impact of Heavy Work Investments on Employees Satisfaction." www.amfiteatrueconomic.ro 22, no. S14: 1.
Energy is one of the most important drivers of economic growth, but as the population is increasing, in normal circumstances, in all countries of the world, there is a demand for energy produced from conventional resources. Increasing prices of conventional energy and the negative impact on the environment are two of the main reasons for switching to renewable energy sources (RESs). The aim of the paper is to quantify the impact of the RESs, by type, on the sustainable economic growth at the European Union (EU) level. The research was performed for all 28 EU member states, for a time frame from 2004 to 2017, through a panel autoregressive distributed lag (ARDL) approach and causality analysis. Furthermore, Hausman test was performed on the regression model. By estimating the panel data regression model with random effects, we reveal through our results that RESs, namely wind, solar, biomass, geothermal, and hydropower energy, have a positive influence on economic growth at EU level. Moreover, biomass has the highest impact on economic growth among all RES. In fact, a 1% increase in biomass primary production would impact the economic growth by 0.15%. Based on econometric analysis, our findings suggest that public policies at the EU level should be focused on investment in RESs.
Mihail Busu. Analyzing the Impact of the Renewable Energy Sources on Economic Growth at the EU Level Using an ARDL Model. Mathematics 2020, 8, 1367 .
AMA StyleMihail Busu. Analyzing the Impact of the Renewable Energy Sources on Economic Growth at the EU Level Using an ARDL Model. Mathematics. 2020; 8 (8):1367.
Chicago/Turabian StyleMihail Busu. 2020. "Analyzing the Impact of the Renewable Energy Sources on Economic Growth at the EU Level Using an ARDL Model." Mathematics 8, no. 8: 1367.
Car industry is one of the most important sectors in Romania with a significant impact on country’s GDP. This paper presents the construction and the evaluation of an Analytical Network Process (ANP) market share model, which emerged from extended in-depth interviews with top managers of the main Romanian car industry producers. ANP model was used to estimate the market share and compare the results with the actual values, expressed by Saaty’s compatibility index, then validate this model and offer comparative numerical weights of importance car industry in Romania. The conclusions of the article are in line with the research in the field and show that the automotive market shares in Romania estimated by the ANP model are confirming the companies’ calculations. The software we have used in our analysis was Super Decision 3.2 software.
Mihail Busu; Stere Stamule. An ANP approach to estimate the market shares of the car industry companies in Romania. Proceedings of the International Conference on Business Excellence 2020, 14, 953 -962.
AMA StyleMihail Busu, Stere Stamule. An ANP approach to estimate the market shares of the car industry companies in Romania. Proceedings of the International Conference on Business Excellence. 2020; 14 (1):953-962.
Chicago/Turabian StyleMihail Busu; Stere Stamule. 2020. "An ANP approach to estimate the market shares of the car industry companies in Romania." Proceedings of the International Conference on Business Excellence 14, no. 1: 953-962.
The degree of market concentration is an important investigative tool used by competition authorities, as well as any public entity or undertaking that is interested in a specific market. There are several market concentration indices, but the most popular measure for computing the degree of market concentration is the Herfindahl–Hirschman Index (HHI). However, a limitation of this indicator is that its computation requires data on all the entities that are active in a market. Therefore, due to the large number of companies in some specific markets, sometimes it is cumbersome to compute the HHI. The aim of this paper was to develop an algorithm to estimate as accurately as possible the HHI in such cases, so that the degree of market concentration can be identified. An interdisciplinary application of this method on the Romanian biomass sector is presented at the end of this paper.
Mihail Busu. A Market Concentration Analysis of the Biomass Sector in Romania. Resources 2020, 9, 1 .
AMA StyleMihail Busu. A Market Concentration Analysis of the Biomass Sector in Romania. Resources. 2020; 9 (6):1.
Chicago/Turabian StyleMihail Busu. 2020. "A Market Concentration Analysis of the Biomass Sector in Romania." Resources 9, no. 6: 1.
Based on the finding of the economic studies on the analysis of the performances of the companies from retails sector, this paper aims of analyzing the economic factors which are the basis of economic performances of the new companies from the retails sector of Romania. Starting with an econometric model based on current assets, fixed assets and number of employees, three research hypotheses were tested and validated through a multilinear regression model analyzed with the OLS method with the use of statistical software SPSS 23. The conclusions of the paper are in line with the other researches in the area and underline that the economic performances of the selected companies are determined by the current and fixed assets, as well as the number of employees.
Mihail Busu; Madalina Vanesa Vargas; Ioan Alexandru Gherasim. An analysis of the economic performances of the retail companies in Romania. Management & Marketing. Challenges for the Knowledge Society 2020, 15, 125 -133.
AMA StyleMihail Busu, Madalina Vanesa Vargas, Ioan Alexandru Gherasim. An analysis of the economic performances of the retail companies in Romania. Management & Marketing. Challenges for the Knowledge Society. 2020; 15 (1):125-133.
Chicago/Turabian StyleMihail Busu; Madalina Vanesa Vargas; Ioan Alexandru Gherasim. 2020. "An analysis of the economic performances of the retail companies in Romania." Management & Marketing. Challenges for the Knowledge Society 15, no. 1: 125-133.
Low carbon emissions have a great importance in our life. The increasing importance of carbon emission levels have attracted the interests of researchers and academics in the field. In this article, a panel data econometric model is developed to measure the relationship between renewable energy, energy productivity, population, urbanization, motorization, and Gross Domestic Product (GDP) per capita and their impacts on carbon dioxide CO2 emissions. Data used in this study was collected from the European Statistical Office (EUROSTAT) and five statistical hypotheses were tested and validated through a multilinear regression model using the Econometric Views (Eviews) 10.0 statistical software. The Hausman test was used to choose between a model with fixed effects and a model with random effects, and the variance inflection factor (VIF) was used to test the collinearity between the independent variables. The author’s findings indicate that renewable energy at the European Union (EU) level has a positive impact on low-carbon emissions. It was found that a 1% increase in renewable energy consumption would reduce the CO2 emissions by 0.11 million tons, while population growth and urbanization degree add more restrictions to the econometric equation of the impact on carbon emissions.
Mihail Busu. Measuring the Renewable Energy Efficiency at the European Union Level and Its Impact on CO2 Emissions. Processes 2019, 7, 923 .
AMA StyleMihail Busu. Measuring the Renewable Energy Efficiency at the European Union Level and Its Impact on CO2 Emissions. Processes. 2019; 7 (12):923.
Chicago/Turabian StyleMihail Busu. 2019. "Measuring the Renewable Energy Efficiency at the European Union Level and Its Impact on CO2 Emissions." Processes 7, no. 12: 923.
In this paper, we develop a methodology for studying the sustainability of the circular economy model, based on environmental indicators, and its impact on European Union (EU) economic growth. In open-end systems, waste is converted back to materials and objects through recycling; hence, a linear economy is transformed into a circular economy (CE). Environmental factors support the argument for the sustainable implementation of a circular economy. The main objective of this paper is to analyze the sustainability of the CE indicators and to elaborate a multilinear regression model with panel data for determining the dependency of the main CE factors on EU economic growth. Starting with the model of economic growth based on circular material use rate, recycling rate of municipal waste (RRMW), trade in recycling materials, labor productivity, environmental taxes, and resource productivity as independent variables, six statistical hypotheses were validated through a multiple regression model with the use of the statistical software EViews 11. The research study was conducted for 27 EU countries, and the data was collected from the European Union Statistical Office (EUROSTAT), during the time frame 2010 to 2017. Based on econometric modeling, the paper highlights that circular economy generates sustainable economic growth across the EU.
Mihail Busu; Carmen Lenuta Trica. Sustainability of Circular Economy Indicators and Their Impact on Economic Growth of the European Union. Sustainability 2019, 11, 5481 .
AMA StyleMihail Busu, Carmen Lenuta Trica. Sustainability of Circular Economy Indicators and Their Impact on Economic Growth of the European Union. Sustainability. 2019; 11 (19):5481.
Chicago/Turabian StyleMihail Busu; Carmen Lenuta Trica. 2019. "Sustainability of Circular Economy Indicators and Their Impact on Economic Growth of the European Union." Sustainability 11, no. 19: 5481.
This paper focuses on total quality management (TQM) processes and their applications to increase the management performance of enterprises in the renewable energy sector (RES). TQM is a modern tool used by enterprises to increase their management performance. We start with a description of Edwards Deming’s conceptualized model, highlighting different phases of its development as described in the literature. The TQM process is then used for an application to the RES in Romania. The quantitative model analyzes the influence of TQM process implementation in achieving competitive advantage and the management performance of the undertakings in the RES. Data was collected through a survey based on a questionnaire addressed to employees and managers in the RES. Structural equation modeling (SEM) was used and the research hypotheses were tested with the partial least squares path method (PLS). Data analysis was performed with the statistical software SmartPLS 3.2.8. The main contribution of this article is to evaluate the relationship between the management performance of enterprises in the RES sector in Romania and TQM process indicators. The results underline the fact that the most important attributes of a TQM process to increase the management performance are: integrated operational processes, policies and trading strategies, integrated operational management, company social responsibility, motivated workforce, knowledge, and competencies. The conclusions of the research are in line with the latest findings in the area, underlining that management performance is the direct result of the association between a group of factors and processes, such as the integrated operational processes, trade strategies and policies, integrated operational management, corporate social responsibility (CSR), motivated workforce, knowledge, and competencies.
Mihail Busu. Applications of TQM Processes to Increase the Management Performance of Enterprises in the Romanian Renewable Energy Sector. Processes 2019, 7, 685 .
AMA StyleMihail Busu. Applications of TQM Processes to Increase the Management Performance of Enterprises in the Romanian Renewable Energy Sector. Processes. 2019; 7 (10):685.
Chicago/Turabian StyleMihail Busu. 2019. "Applications of TQM Processes to Increase the Management Performance of Enterprises in the Romanian Renewable Energy Sector." Processes 7, no. 10: 685.
Low carbon emission has a major positive impact on our society. Due to the importance of reducing carbon emission levels, factors that contribute significantly towards reducing carbon emission levels have attracted the interest of academics and researchers in the field. In this paper, the author develops a multiple linear regression analysis to examine the relationship between renewable energy consumption, biofuel production, resources productivity, bioenergy productivity, the level of urbanization and population and their impact on total carbon dioxide (CO2) emissions. Data was collected from the European Statistical Office (EUROSTAT) and four statistical hypotheses were validated through a regression model with panel data using the statistical software EViews 11. The study was conducted for 27 European Union (EU) countries during 2008 to 2017. The author’s findings indicate that renewables have a direct and positive influence on the levels of CO2 emissions, as opposed to population growth and urbanization. These findings suggest that public policy should be directed towards increasing the use of renewables in EU countries, while the level of urbanization and the population growth add more restrictions in the modelling equation of the impact on CO2 emissions.
Mihail Busu. The Role of Renewables in a Low-Carbon Society: Evidence from a Multivariate Panel Data Analysis at the EU Level. Sustainability 2019, 11, 5260 .
AMA StyleMihail Busu. The Role of Renewables in a Low-Carbon Society: Evidence from a Multivariate Panel Data Analysis at the EU Level. Sustainability. 2019; 11 (19):5260.
Chicago/Turabian StyleMihail Busu. 2019. "The Role of Renewables in a Low-Carbon Society: Evidence from a Multivariate Panel Data Analysis at the EU Level." Sustainability 11, no. 19: 5260.
Based on recent findings of the economic literature on the implications of entrepreneurial innovation for recycling municipal waste, this paper aims to examine the main factors of recycling municipal waste at the European Union (EU) level. In this study, the authors developed a linear regression model to analyze the relationship between business expenditure on research and development (R&D), private investments, gross domestic product (GDP) expenditures on R&D, resource productivity, and environmental taxes on the recycling rate of municipal waste (RRMW). In our analyses, we used data from the Statistical Office of the European Union (EUROSTAT) and five statistical hypotheses were validated through a multiple regression model with panel data using the statistical software EViews 11. The study was conducted in 27 European Union countries between 2010 and 2017. Our results indicate that business expenditure on R&D, private investments, GDP expenditures on R&D, and resource productivity have a direct and significant impact on the RRMW, while environmental taxes have a significant and inverse impact on the RRMW. These findings underline that public policies should be focused on increasing the use of private and public investments on R&D for recycling municipal waste.
Cristian Silviu Banacu; Mihail Busu; Raluca Ignat; Carmen Lenuta Trica. Entrepreneurial Innovation Impact on Recycling Municipal Waste. A Panel Data Analysis at the EU Level. Sustainability 2019, 11, 5125 .
AMA StyleCristian Silviu Banacu, Mihail Busu, Raluca Ignat, Carmen Lenuta Trica. Entrepreneurial Innovation Impact on Recycling Municipal Waste. A Panel Data Analysis at the EU Level. Sustainability. 2019; 11 (18):5125.
Chicago/Turabian StyleCristian Silviu Banacu; Mihail Busu; Raluca Ignat; Carmen Lenuta Trica. 2019. "Entrepreneurial Innovation Impact on Recycling Municipal Waste. A Panel Data Analysis at the EU Level." Sustainability 11, no. 18: 5125.
Based on the findings of the economic studies on the implications of industrialization in the case of growing economies, this study aims to present the economic factors that are at the basis of the development of circular economy at the European Union level. Starting with the model of economic growth based on the recycling rate of municipal waste, human capital, productivity of the resources, and green energy use, three statistical hypotheses were validated through a panel data model with the use of EViews 10 statistical software. The analysis was conducted for 27 European Union countries during the time frame 2008–2017. The paper highlights that the circular economy model is determined by resource productivity, labor employed in environmental protection, recycling rate of municipal waste, and renewable energy use.
Mihail Busu. Adopting Circular Economy at the European Union Level and Its Impact on Economic Growth. Social Sciences 2019, 8, 159 .
AMA StyleMihail Busu. Adopting Circular Economy at the European Union Level and Its Impact on Economic Growth. Social Sciences. 2019; 8 (5):159.
Chicago/Turabian StyleMihail Busu. 2019. "Adopting Circular Economy at the European Union Level and Its Impact on Economic Growth." Social Sciences 8, no. 5: 159.
In this paper we are analyzing the predictive power of the singular value decomposition entropy for the Dow Jones Global Titans 50 (DJGT) index of New York Stock Exchange (NYSE) market. For the correlation matrix of the DJGT index components we then calculate the entropy of the singular value decomposition. Granger causality test was used to prove that entropy has a predictive power for stock market dynamics of the NYSE market. The results of our paper are revealing the importance of considering structural breaks when analyzing financial stock markets. Our analysis is conducting to the conclusion that the singular value decomposition entropy has predictive power for the NYSE - DJGT index.
Cristian Busu; Mihail Busu. Modeling the predictive power of the singular value decomposition-based entropy. Empirical evidence from the Dow Jones Global Titans 50 Index. Physica A: Statistical Mechanics and its Applications 2019, 534, 120819 .
AMA StyleCristian Busu, Mihail Busu. Modeling the predictive power of the singular value decomposition-based entropy. Empirical evidence from the Dow Jones Global Titans 50 Index. Physica A: Statistical Mechanics and its Applications. 2019; 534 ():120819.
Chicago/Turabian StyleCristian Busu; Mihail Busu. 2019. "Modeling the predictive power of the singular value decomposition-based entropy. Empirical evidence from the Dow Jones Global Titans 50 Index." Physica A: Statistical Mechanics and its Applications 534, no. : 120819.
The energy sector is particularly important in the national economy as a whole, while the electricity sector is its main component. The developments in this area have strong economic and social repercussions. This article makes an overview of the electricity sector, illustrating the monthly evolution of consumption and production of instantaneous electricity in Romania in the past few years. Further on, the paper presents the monthly evolution of instantaneous consumption and production of electricity in Romania, the annual structure of electricity production and the depiction of some basic indicators of centralized electricity markets managed by OPCOM. The quantitative analysis presents the monthly evolution of weighted average prices on the competitive markets managed by OPCOM and a linear correlation analysis of the spot market prices in the Eastern European region. The conclusions of the article are in line with the research in the field and show that the electricity markets have registered important evolutions in Romania, both in terms of size and prices, evolutions based on both structural and behavioral factors. It also showed that spot market prices had relatively similar developments over the period analyzed in several countries in the region, with price correlations that seem to be even stronger as the interconnection of electricity grids is higher. Therefore, the results confirm the economic theory, namely that increasing the interconnection of electricity markets can lead to energy prices being brought closer, but also to mitigating the shocks affecting these markets.
Mihail Busu; Roxana Clodnițchi; Manuela Liliana Mureșan. A correlation analysis of the spot market prices of the Romanian electricity sector. Management & Marketing. Challenges for the Knowledge Society 2019, 14, 150 -162.
AMA StyleMihail Busu, Roxana Clodnițchi, Manuela Liliana Mureșan. A correlation analysis of the spot market prices of the Romanian electricity sector. Management & Marketing. Challenges for the Knowledge Society. 2019; 14 (1):150-162.
Chicago/Turabian StyleMihail Busu; Roxana Clodnițchi; Manuela Liliana Mureșan. 2019. "A correlation analysis of the spot market prices of the Romanian electricity sector." Management & Marketing. Challenges for the Knowledge Society 14, no. 1: 150-162.
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–Romer–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–Romer–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.
Carmen Lenuta Trica; Cristian Silviu Banacu; Mihail Busu. Environmental Factors and Sustainability of the Circular Economy Model at the European Union Level. Sustainability 2019, 11, 1114 .
AMA StyleCarmen Lenuta Trica, Cristian Silviu Banacu, Mihail Busu. Environmental Factors and Sustainability of the Circular Economy Model at the European Union Level. Sustainability. 2019; 11 (4):1114.
Chicago/Turabian StyleCarmen Lenuta Trica; Cristian Silviu Banacu; Mihail Busu. 2019. "Environmental Factors and Sustainability of the Circular Economy Model at the European Union Level." Sustainability 11, no. 4: 1114.