Circular economy and economic instruments in the EU and Romania

Victor Platon, Simona Frone, Andreea Constantinescu, Sorina Jurist, George Banghiore and Octavia Moise
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Victor Platon: Institute of National Economy,Bucharest,Romania
Sorina Jurist: Institute of National Economy,Bucharest,Romania
George Banghiore: The School of Advanced Studies of the Romanian Academy (SCOSAAR)
Octavia Moise: The School of Advanced Studies of the Romanian Academy (SCOSAAR)

Romanian Journal of Economics, 2024, vol. 59, issue 2(68), 5-24

Abstract: This paper aims to present and analyse some of the most relevant environmental economic instruments specific to the circular economy, focusing on waste management. Since circular economy (CE) is a related strategic objective of the European Green Deal, in the EU the most used economic instruments to promote CE are the waste management tools. The approach is meant to research the sustainability of these economic instruments in the case of the Romanian Environmental Fund. The research method used was the review of recent specific literature, the selection of the most relevant indicators and collecting statistical data corresponding to the analysed indicators. The analysis was made by processing the statistical data provided by Eurostat and the National Institute of Statistics (INSSE) with Excel software and by interpreting the results. The results of the research highlighted the current increased awareness and the occurrence of circular economy policies involving many economic instruments. Nevertheless, data analysis and the actual processing reveal a low share of revenues resulting at national level from the application of specific economic instruments for waste management. Although the value of taxes for the circular economy increased in the analysed period (2013-2023), almost 100 times (from approx. 8.000 lei to approximately 800.000 lei), their share in total taxes to the Environmental Fund decreased from over 80% in 2013 to only 11.7% in 2023. The originality of the work consists in the angle of analysis of the environmental economic and financial instruments used at national level to boost the circular economy. Also, personal conclusions and recommendations were made by the authors, based on the results of the research conducted.

Keywords: circular economy indicators; financial instruments; statistical indicators; waste management; Environmental Found in Romania (search for similar items in EconPapers)
JEL-codes: H23 K32 O13 O44 (search for similar items in EconPapers)
Date: 2024
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