The development of circular economy in Western Balkan countries

Đorđe Mitrović; Biljana Pešalj

doi:10.46793/ICEMIT23.065M

Authors

Đorđe Mitrović University of Belgrade, Faculty of Economics and Business, Belgrade, Serbia
Biljana Pešalj Rotterdam University of Applied Sciences, Rotterdam Business School, Netherlands

DOI:

https://doi.org/10.46793/ICEMIT23.065M

Keywords:

Circular Economy, Economic Growth, DEA

Abstract

The circular economy implies that the primary source of economic growth is the maximum reuse of many materials obtained from products at the end of their life cycle and the minimum extraction of new resources. In contrast to it, the traditional linear economy follows a simple path “take - produce - dispose”, i.e., it is based on the constant extraction of new resources and the disposal of used products as waste without the possibility of their reuse as inputs in the production of the same or another product. In Western Balkans countries, this paper reviews the degree of progress made in developing Circular Economy. The efficiency of Western Balkan countries when it comes to developing and implementing a circular economy will be demonstrated in the DEA analysis. The key trends in the evolution of circular economies in the Western Balkan countries, as well as the most important elements hindering its faster development and mutual convergence with the countries of European union will be highlighted in this paper.

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