Challenging Novelties within the Circular Economy Concept under the Digital Transformation of Society

Milena P. Ilić, Marko Ranković, Milutin Dobrilović, Rocsana Bucea-Manea-Țoniş, Larisa Mihoreanu, Mădălina Ionela Gheța and Violeta-Elena Simion
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Milena P. Ilić: Information Technology School ITS-Belgrade, LINK Group Belgrade, Faculty of Contemporary Arts Belgrade, University Business Academy, 11000 Belgrade, Serbia
Marko Ranković: Faculty of Information Technology and Engineering, University Union Nikola Tesla, 11080 Belgrade, Serbia
Milutin Dobrilović: Faculty of Economics, University of Belgrade, 11000 Belgrade, Serbia
Rocsana Bucea-Manea-Țoniş: Doctoral School, National University of Physical Education and Sport, 060057 Bucharest, Romania
Larisa Mihoreanu: Faculty of Administration and Public Management, Bucharest University of Economic Studies, 010374 Bucharest, Romania
Mădălina Ionela Gheța: Business Administration Doctoral School, Bucharest University of Economic Studies, 010374 Bucharest, Romania
Violeta-Elena Simion: Faculty of Veterinary Medicine, Spiru Haret University, 030045 Bucharest, Romania
Authors registered in the RePEc Author Service: Rocsana Bucea-Manea-Tonis

Sustainability, 2022, vol. 14, issue 2, 1-11

Abstract: The study makes, under a new configuration of the circular economy, a cross-country analysis based on the Competitiveness and Innovation Indicators in the E.U., i.e., two sub-criteria: private investments, jobs, and gross value added; and patents related to recycling and secondary raw materials as a proxy for innovation. The analysis proved that investments influence the number of patents, and participate in societal transformation. A further cluster analysis classified countries on the level of innovation. The cluster analysis in SPSS centres on significant potential, weaknesses, impact, and waste management control through blockchain technology. It is found that the factors that influence innovation, according to the Global Competitiveness Report, link the business dynamism and innovation capability with the capacity to sustain resilient ideas, such as competitive intelligence and social entrepreneurship. The discussions aim to prove that the efforts to rethink the circular economy principles contribute to its conceptual and societal transformation role through the implementation of innovative processes, inventive solutions, and blockchain technologies, and their social consequences to solve environmental problems. Once understood and accepted, CE will drive sustainable behaviour.

Keywords: circular economy; competitiveness; investments and patents governance; innovation and policy for sustainability; societal transformation (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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