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Abstract
This study investigates the relationships between income inequality, research and development (R&D) potential, and human development in EU countries, focusing on circular economy (CE) adoption. Using data from 27 EU countries (2010-2020), cluster analysis categorized nations by CE adoption levels. Panel regression analysis revealed a positive correlation between income and R&D, stronger in countries with robust CE adoption. A positive link between R&D and human development indicators was also found. However, government R&D showed inefficiencies, particularly in high CE adoption countries. The study suggests redefining economic growth metrics and prioritizing a well-being economy.
Publisher
Humanities and Social Sciences Communications
Published On
Feb 03, 2024
Authors
Marinko Skare, Beata Gavurova, Martin Rigelsky
Tags
income inequality
research and development
human development
circular economy
EU countries
economic growth
well-being economy

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