Beyond Linear Models: Factors Driving Environmental Action and Circular Economy Transition in Western Balkan Businesses

Jusufi Nora () and Skenderi Nagip ()
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Jusufi Nora: Nora Jusufi, M.A. in International Development PhD Candidate in Economics, Director of IDRA Research and Consulting - Kosova Faculty of Economics, University of Prishtina “Hasan Prishtina”, Str. Muharrem Fejza/Prekazi, Bldg. C, no. 38, Prishtina, 10000, Republic of Kosovo
Skenderi Nagip: Nagip Skenderi, PhD in Economics Associate Professor of Economics, Faculty of Economics, University of Prishtina “Hasan Prishtina”, Republic of Kosovo

South East European Journal of Economics and Business, 2024, vol. 19, issue 2, 1-12

Abstract: This article employs a probit model to analyze the determinants influencing businesses in the Western Balkans to mitigate their environmental impact and assess the feasibility of transitioning to a circular business model. It relies on primary survey data gathered in all Western Balkan countries by professional research agencies in 2022, with a representative sample of approximately 200 businesses per country. The findings reveal that factors such as being an exporting, foreign, innovative, and loan-receiving company increase the likelihood of businesses in the Western Balkans taking measures to reduce their environmental impact. Moreover, being an exporting and loan-receiving company emerges as influential in fostering the belief that a shift to a circular business model is attainable. These insights have profound implications for policymakers and businesses aiming to promote sustainable practices and circular economy initiatives within the Western Balkans. Additionally, this article contributes to policy development and knowledge on environmental and circular practices in developing economies.

Keywords: environmental economics; circular economy; business model; sustainability (search for similar items in EconPapers)
JEL-codes: F18 F64 O13 P18 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:seejeb:v:19:y:2024:i:2:p:1-12:n:1001

DOI: 10.2478/jeb-2024-0012

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