TOWARDS SUSTAINABLE GROWTH: ASSESSING THE NEXUS BETWEEN AGRICULTURAL OUTPUT AND CIRCULAR ECONOMY INDICATORS

Boris Radovanov; Aleksandra Marcikić Horvat; Otilija  Sedlak

doi:10.59267/ekoPolj2603931R

Authors

Boris Radovanov University of Novi Sad, Faculty of Economics in Subotica, Segedinski put 9-11, 24000 Subotica, Serbia https://orcid.org/0000-0002-4728-7286
Aleksandra Marcikić Horvat University of Novi Sad, Faculty of Economics in Subotica, Segedinski put 9-11, 24000 Subotica, Serbia https://orcid.org/0000-0002-4199-4238
Otilija Sedlak University of Novi Sad, Faculty of Economics in Subotica, Segedinski put 9-11, 24000 Subotica, Serbia https://orcid.org/0000-0002-7430-7027

DOI:

https://doi.org/10.59267/ekoPolj2603931R

Keywords:

agricultural value added, circular economy, European Union, panel data analysis, renewable energy, sustainable development

Abstract

This paper examines the relationship betweenagricultural output and circular economy indicatorsin 36 European countries over the period 2015–2024.Using an unbalanced panel of 360 observations, a panelregression model with fixed effects was estimatedfollowing a series of diagnostic tests that confirmedthe robustness and reliability of the estimates.Agriculture, forestry and fishing value added perworker was modelled as a function of five circulareconomy indicators, alongside GDP per capita, ruralpopulation share and agricultural employment. Allestimated coefficients were significant at the 1%level. The recycling rate of municipal waste andthe share of renewable energy positively affectagricultural value added, while the generation ofmunicipal waste, raw material consumption, ruralpopulation and agricultural employment exertnegative effects. The findings confirm that circulareconomy practices and agricultural productivity arecomplementary rather than conflicting areas, whoselong-term synergy depends on coordinated economicpolicy support.

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