A challenging path or full of opportunities. A comparison of the performance of circular economy in the Western Balkan countries

Ervisa Ndoka and Genc Alimehmeti
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Ervisa Ndoka: University of Tirana,Tirana,Albania
Genc Alimehmeti: University of Tirana,Tirana,Albania

Romanian Journal of Economics, 2024, vol. 59, issue 2(68), 316-332

Abstract: In conditions where global population growth, climate change, and demand for natural resources are constantly increasing, environmental issues are receiving more and more attention. The exponential speed of these changes has directed attention towards a more sustainable economy in a new economic model where waste does not exist. Although the European Union is undertaking ongoing policies and measures to promote the circular economy in all other European countries aspiring to become part of the Union, much more effort is needed in this direction for the Western Balkan countries. Objective: This study aims to compare the effectiveness of circular economy initiatives in the Western Balkan countries and assess their performance. Method: This study relied on secondary data sources to compare circular economy practices in six Western Balkan countries: Albania, Kosovo, Bosnia and Herzegovina, North Macedonia, Montenegro and Serbia, using the DEA method. Data were gathered from government papers, international databases (including Eurostat), scholarly articles, and other publications. Results: The findings show that the countries included in the study do not have significant variations in the performance of the circular economy indicators. What is noticed is that all these countries need improvements in the legislative field, doing business, government institutions waste management, financing, and technological innovation. Originality: By identifying the strengths and weaknesses in these studied countries, their differences and commonalities, and the state of the art of the circular economy, the research offers important implications for policymakers and practitioners who aim to promote more sustainable economic development.

Keywords: circular economy; recycling rate; DEA method; Western Balkan; resource productivity (search for similar items in EconPapers)
JEL-codes: M10 Q01 Q56 R00 (search for similar items in EconPapers)
Date: 2024
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