Institute of Economics
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Item type:Publication, CIRCULAR ECONOMY AND SUSTAINABLE GROWTH EVIDENCE FROM NORTH MACEDONIA(Institute of Economics-Skopje, Ss. Cyril and Methodius University in Skopje, Republic of North Macedonia, 2025-11); ; Josimovska, TeaAbstract: Sustainable economic growth has become a central priority for countries striving to balance economic development with environmental protection and social well-being. The concept of the circular economy (CE), which emphasizes resource efficiency, waste reduction and innovation is in icreasingly recognized as a pathway to achieving long-term sustainability. Estimating an extended Cobb–Douglas production function that incorporates traditional growth drivers (capital, labour) alongside sustainability-related variables (resource productivity, renewable energy,), the paper tests the hypothesis whether the higher resource productivity and renewable energy use, contributes positively to GDP growth while reducing environmental pressures (decreasing CO₂ emissions). The estimation is made with ARDL model and use annual time-series data for North Macedonia (NM) covering the period from 2000 – 2023. The research findings* reveal that economic growth in North Macedonia is driven by the traditional factors, especially labour. Also, a 1% increase in resource productivity is associated with a 0.75% increase in GDP is strong and direct validation of the circular economy concept. It shows that North Macedonia can achieve economic growth not just by extracting and using more resources, but by using them more efficiently. This finding directly supports the idea of "decoupling" economic growth from environmental degradation. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, NORTH MACEDONIA’S DEMOGRAPHIC FUTURE: INSIGHTS FROM THE POPULATION PROJECTIONS(Ss. Cyril and Methodius University in Skopje, 2025-11-02); ; ;