MEASURING THE IMPACT OF SOCIAL PROGRESS ON THE RECYCLING RATE AT EUROPEAN LEVEL BY USING ECONOMETRIC MODELS

The concept of circular economy is becoming more and more frequently mentioned in scientific research due to the link between this concept and sustainable development at a global level. The circular economy offers opportunities to reinvent the classical economy, offering sustainable and competitive solutions. The benefits of circular economy are directly associated with environmental protection, increased competitiveness, innovation and technological research. The objective of this article is to determine the influence that the social progress of the population has on the development of circular economy. The article contributes to the domain-specific literature by analysing the correlation between the dimensions of social progress, the percentage allotted to the research and innovation expenditure in the GDP, the GDP/capita and the recycling rate in the European Union countries, which have Social Progress Index, the percentage allotted to the research and development expenditure in the GDP, the GDP/capita being control variables. The results of a panel-type data analysis show that social progress positively influences the recycling rate in an economy. Thus, various policies aimed at increasing the social progress of the population, will have an effect on the recycling rate and, implicitly, on the development of the circular economy