Ensuring the competitiveness of countries and environmental efficiency based on the circular economy

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Ensuring the competitiveness of countries and environmental efficiency based on the circular economy

Voitko Serhii Vasylyovych Dr.Ec.se., Professor, Head of the Department of International Economics, National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Kyiv

Sakalosh Taras Vasyliovych PhD, Ass. professor of the Department of International Economics, National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Kyiv,

Mazanko Tetiana Oleksandrivna PhD Student, Department of International Economics, National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Kyiv,

Abstract

The article examines the circular economy from the standpoint of innovations based on the use of renewable energy sources. The relationship between the indicators of the implementation of renewable energy, environmental efficiency and global competitiveness of countries was studied. An analysis of the level of development of the circular economy in the countries for which data is available was carried out. A comparison of economic indices characterizing human well-being, global competitiveness and environmental efficiency for countries from the TOP-10 rating and Ukraine was made. The method of correlation-regression analysis and pairwise comparison of indicators directly related to the object of research was used. A significant relationship was found between the index "Hydro, solar energy, wind, wave energy, combustible renewable energy and the use of energy from waste" and the index "Global competitiveness", the index of environmental efficiency and the indicator of GDP per capita. The assumption regarding the significant impact of the introduction of renewable energy on increasing the level of the country's competitiveness, as well as the impact on the environment and the implementation of innovative energy saving options, has been confirmed. It has been proven that the rapid spread of the concept of the circular economy significantly contributes to the preservation of the environment of countries, as can be seen from the ecological efficiency index. The impact on indicators of the level of well-being of the population, on saving resources, and reducing environmental pollution of the Earth was revealed. It is noted that the use of hydropower, solar energy, wind energy, wave energy, combustible renewable energy sources, and waste energy are mostly used by about a fifth of the countries, China, the USA, Germany, Brazil, India, Great Britain, etc. are among the top 10. Japan, Spain, France and Italy. It was determined that Ukraine occupies 36th place (2022). environmental efficiency circular economy

Keywords: renewable energy sources, environmental efficiency, global competitiveness, hydro, solar energy, wind energy, wave energy, combustible renewable energy, use of waste energy.

Войтко Сергій Васильович доктор економічних наук, професор, завідувач кафедри міжнародної економіки, Національний технічний університет України «Київський політехнічний інститут імені Ігоря Сікорського», м.Київ,

Сакалош Тарас Васильович кандидат економічних наук, доцент кафедри міжнародної економіки, Національний технічний університет України «Київський політехнічний інститут імені Ігоря Сікорського», м.Київ,

Мазанко Тетяна Олександрівна аспірантка кафедри міжнародної економіки, Національний технічний університет України «Київський політехнічний інститут імені Ігоря Сікорського», м. Київ

ЗАБЕЗПЕЧЕННЯ КОНКУРЕНТОСПРОМОЖНОСТІ КРАЇН І ЕКОЛОГІЧНОЇ ЕФЕКТИВНОСТІ НА ЗАСАДАХ ЦИРКУЛЯРНОЇ ЕКОНОМІКИ

Formulation of the problem

A habitable environment is the guarantee of development and the basis of human existence. Environmental protection is the main task in the development strategy of all countries of the world, environmental problems are more relevant today than ever and have a direct impact on economic and social development. The goals of sustainable development of the United Nations [1] largely ensure the preservation of the environment. Of the 17 goals, 6 relate to the environmental component. These goals include: guaranteeing access to water and sanitation and ensuring stable diversion and management of water resources; ensuring free access to affordable, reliable, sustainable and modern energy for all; ensuring sustainable production and consumption; taking urgent measures to combat climate change and its consequences; storage and establishment of sustainable use of marine resources for sustainable development; preservation and restoration of the ecosystem on Earth and ensuring its use on the basis of sustainable development and circular economy.

With the development of industry and the accelerated industrialization of our planet, the question of restoring the balance between natural resources, which are exhaustible, and production, which is expanding, is increasingly arising, and we will also emphasize the increase in the level of competition in industries and environmental efficiency in the production and commercial activities of enterprises. In order to solve these challenges, it is necessary to take effective environmental measures, to arrive at a low-carbon and harmonious world, and to implement the goals of global sustainable development. All this can be done thanks to the implementation of the concept of circular economy.

Analysis of recent research and publications

The basis of the sustainable development of enterprises is the circular economy. Among the foreign and domestic scientists who deal with the problems of implementing the principles of circular economy and sustainable development, as well as the development of theoretical and methodological foundations, we note the works of the following scientists: F. Bunce, S. Bernard, J. Korhonen, Anupama Sen [2 ; 3; 4; 5], I. Zvarich [6], M. Varfolomeev and O. Churikanova [7] investigate the problems and prospects of introducing a circular economy in Ukraine, and give examples of such a transition in EU countries. In his work, I. Zvarich proposes certain steps for the inclusion of Ukrainian industry in the circular process. M. V. Ruda, Ya. V. Mirka, using the example of the EU countries, substantiate the possibilities of the establishment and development of circular business models in Ukraine [8]. O. M. Chabanyuk and N. O.Loboda [9] analyse the essence, basic principles and advantages of the concept of sustainable development.

Among domestic and foreign scientists who are engaged in the analysis of the overall competitiveness of countries, we can single out the following: V. Ya. Brich and V. I. Ohota [10], E. G. Zhnakina [11], N. G. Varshavska [12]. Among world scientists, we note the works of S. Y. Cheng, H. Hou [13], M. Marceta, S. Bojnec [14], M. Nogueira, M. Madaleno [15]. At the same time, despite the presence of a significant number of works devoted to the global competitiveness of countries, its concept is not sufficiently developed.

The purpose of the article is to identify the dependence between the indicators of the implementation of renewable energy, the growth of environmental efficiency and the global competitiveness of the country. To prove the impact of the index "Hydro, solar energy, wind energy, wave energy, combustible renewable energy and the use of energy from waste" on the index "Global competitiveness". To prove that the introduction of the latest technologies contributes to the transition from a "linear" to a "circular" economy.

esenting of the main material

The term "circular economy" was first mentioned in Kenneth Boulding's famous 1966 essay "The Economy of the Future Spaceship Earth" [16]. The author emphasizes the awareness of the contrast between the term "open economy" with unlimited input resources and "closed economy", in which resources and absorbers are limited and forever remain part of the problems for the economy [16]. The author claims that the circular economy can be achieved "if the global demand for both the volume and composition of products stabilizes." In fact, this phrase describes an ideal eco-economic system that is practically impossible to implement in today's growth-oriented economies. Growth, measured in particular by national gross domestic product (GDP), is now the primary goal of economic policy in virtually all countries; it both feeds and fuels the fleeting human desires for novelty and change that can be satisfied through the acquisition of material possessions. Our vision of a future sustainable material economy is not defined by the desire to create a closed-loop economy, but aimed at minimizing its overall impact on the environment. "Reduce, reuse, recycle" is a critical and sensible formula for the future of materials management or waste management. This formula remains the correct aspiration to reduce the impact on the environment and is the basis of the circular economy.

The concept of competitiveness has evolved through the contributions of many academics and economists over several decades. However, among those whose ideas influenced the formation of this concept, several of the most influential scientists can be singled out. Michael Porter an american economist who made a significant contribution to the study of the competitive advantage of enterprises and the formulation of the concept of the competitiveness of nations. He developed "Diamond of competitiveness" (The Competitive Advantage of Nations), which determined the relationship between the competitive advantage of the enterprise and the characteristics of its national specialization [17]. Peter Drucker, a famous american economist and manager who left a significant intellectual legacy in the field of enterprise management. His works in the field of management highlight important principles of enterprise competitiveness [18]. William Edwards Deming, American scientist. His ideas and methods helped enterprises to improve product quality and become competitive in the world market [19]. Alfred Chandler, an american historian and economist who studied the structures of enterprises and their changes in the historical context. His works examine what changes in management can make the enterprise more competitive [20].

Competitiveness is key to the survival and success of any business in today's global economic environment. According to our definition, the competitiveness of enterprises is the ability of an enterprise to compete effectively in the market, ensuring the quality of its goods or services, it is production efficiency, innovation, low costs and other factors that can make its products or services desirable for consumers compared to the products or services of competitors.

The competitiveness of the enterprise is determined by numerous factors, among which we note the following:

1. Quality of products or services. High quality products or services ensure customer satisfaction and restore their loyalty, and, as a result, increase demand.

2. Innovations. The company's ability to introduce new ideas, technologies and production methods gives it advantages over competitors.

3. Production efficiency. Lower production costs lead to lower prices for products, which makes them attractive to consumers.

4. Marketing and branding. An effective marketing strategy and a strong brand make the company's products more recognizable and desirable to consumers.

5. Flexibility. The company's ability to quickly respond to changes in demand or market conditions provides advantages over competitors.

6. Labor force. Highly qualified and motivated employees significantly improve productivity and production quality.

7. Ability to adapt. Businesses must be able to adapt to new technologies, market requirements and legislation.

One of the important factors of the competitiveness of enterprises is the introduction of innovations. The term "innovation" (German: innovation) was first introduced into the scientific lexicon by J. Schumpeter. The scientist defined innovation as "any possible change that occurs as a result of the use of new or improved solutions of a technical, technological, organizational nature in the processes of production, supply, sales of products, after-sales service" [21]. Innovation is a key element for the development of enterprises in today's competitive environment. By innovation in enterprises, we mean the introduction of new ideas, products, services, technologies or processes aimed at increasing the level of efficiency, increasing competitiveness and meeting market needs. Innovation can be technical, such as the development of new products or technologies, or organizational, such as the improvement of management processes.

One of the 17 Sustainable Development Goals of the United Nations is affordable and clean energy. The realization of this goal is to ensure access to low- cost, reliable, sustainable and modern sources of energy for all, which are currently renewable energy sources. Today, successful enterprises and large businesses are actively working on harmonizing environmental needs, developing competitiveness, and implementing innovations. Innovation can help solve environmental problems and increase competitiveness, for example by developing new environmentally friendly technologies or products. Regular review and optimization of business processes can improve the competitiveness of the enterprise and contribute to the development of innovative solutions. And considering environmental aspects in all areas of business can lead to the sustainable development of society as a whole.

The global competitiveness of a country is affected by such processes as: international division of labour, factors of production, the country's place in the world market. Global competitiveness is an indicator of a state's ability to compete among other states and is an indicator of advantages over other countries. The Global Competitiveness Index depends on the rationality of the country's use of its own resources, it is used to assess the level of competitiveness of a certain country at the global level. This index was created as part of the World Economic Forum in 2004. With the help of the global competitiveness index, it is possible to assess the ability of countries to ensure a high level of welfare of the population and the ability to maintain market relations at an appropriate level [22].

We hypothesize that the introduction of renewable energy together with environmental efficiency increases global competitiveness. Consider the possible impact of the Hydro, Solar, Wind, Wave, Combustible Renewable Energy and Waste Energy Index on the Global Competitiveness Index. Let's assume that hydro, solar, wind, wave, combustible renewable energy and waste energy are technologies that can make the transition from a "linear" to a "circular" economy. In fig. 1 shows the ratio of the indexes, which are "Hydro, Solar, Wind, Wave, Combustible Renewables and Waste-to-Energy" [23] and "Global Competitiveness". Countries with a Global Competitiveness index [24] greater than 0.41, and an index of "Hydro, solar, wind, wave, combustible renewable energy and waste energy use" starting at 0.002 were selected for analysis. The overall analysis covers more than 67 countries.

The dependency visualization (Figure 1) shows that vast majority of the countries ranges 0.002 to 7.79 within `Hydro, solar, wind, wave, combustible renewable energy and waste energy use' index, while `Global competitiveness' 0.41 to 0.70, accordingly. Such ranging intervals correspond to Pareto correlation in quantitative terms.

Fig. 1. `Hydro, solar, wind, wave, combustible renewables and waste energy use ' (2022) to `Global competitiveness ' (2022) correlation index [23, 24]

Regarding `Hydro, solar, wind, wave, combustible renewable energy and waste energy use' index, the following countries made up the TOP-10: China, United States, Germany, Brazil, India, United Kingdom, Japan, Spain, France and Italy. It should be noted, almost all G7 countries have been also presented in this list and this fact is worth paying attention to. According to this index, Ukraine ranks 36th (2022), ahead of the Czech Republic, Egypt, Viet Nam, Morocco and Hungary. And so Ukraine gave way to Ireland, South Africa, Norway, New Zealand and Romania.

The `Global Competitiveness Index' represents similar situation too. The TOP-10 includes Japan, Switzerland, United States, Germany, China, Korea, France, Netherlands, Singapore and United Kingdom. However, Japan, United States, China, Germany, France and United Kingdom are related to the first and second indices simultaneously, thus making 5 out of 7 in G7 and this fact deserves attention to be drawn. After all, those countries that tend to use hydro, solar, wind, wave, combustible renewable energy and waste energy widely have a high competitiveness level in the global economy. According to the "Global Competitiveness Index" as of 2022, Ukraine occupies 63 positions and is ahead of such countries as Egypt, Iran, Pakistan, Sri Lanka and Argentina, but inferior to Kazakhstan, Algeria, South Africa, Azerbaijan and Belarus.

Table 1 [24, 25] summarizes TOP-20 rating and Ukraine standing alone by the Environmental Performance Index. Regions, GDP group and GDP per capita are presented for the reference. However, it is worth drawing attention that the vast majority of countries represent the Region of Europe, while only one country is coming from Australia. Ukraine and represent Eastern Europe, and the TOP-20 ranking is represented by 3 G7 countries. The above mentioned demonstrates that Europe shows biggest interest towards the Environmental Performance Index. The first four countries, namely Denmark, United Kingdom, Finland and Malta are actually small in size and thus having not big population among others in Europe. Moreover, all of the TOP-20 countries have high GDP per capita. Currently, Ukraine ranks 52nd in the Environmental Performance Index rating (2022) and is ahead of such countries as Saint Lucia, Kiribati, Belarus, Armenia and Israel, but has lost its place to Poland, Panama, Portugal, Canada and Belize. We can conclude that Ukraine pays quite high attention to the preservation of the environment and people's health and is in the middle in the ranking of 99 countries, taking a place next to such powerful and highly developed countries as Canada and Israel.

Environmental Performance Index (EPI) can be indicated by global metrics for the environment. This index provides measures in two areas: protection of human health and protection of ecosystems [26]. Figure 2 represents the correlation between GDP per capita and the Environmental Performance Index. 99 countries were selected for the analysis.

Fig.2. Correlation of GDP per capita and Environmental Performance

Index (2022) [24, 25]

The list of TOP-10 with GDP per capita includes Luxembourg, Norway, Ireland, Switzerland, Singapore, United States of America, Iceland, Denmark, Australia, Netherlands. As for the Environmental Performance Index, the TOP-10 list includes Denmark, United Kingdom, Finland, Malta, Sweden, Luxembourg, Slovenia, Austria, Switzerland, Iceland. We have selected 1 country listed in TOP- 10 by both indices - Denmark, where the correlation = 0,629 (for 99 countries) and this is inessential. According to the GDP per capita index (current US$) as of 2022, Ukraine ranks 84th, which is due primarily to active military operations on the territory of the state. Currently, Ukraine is ahead of such countries as Tonga, Jordan, Eswatini, Cabo Verde and Tunisia, which can be classified as low-developed countries. Jamaica, Suriname, Moldova, El Salvador and Namibia are ahead of Ukraine.

Table 1.

Rating Environmental Performance Index (2022) and GDP per capita

(2022) [24, 25]

The overwhelming achievements of the circular economy are the Gigafactory 1 (GF1 - the world's largest SPP with solar roof panels; no fossil fuels to be used within the SPP) and Gigafactory 2 (GF2 - solar panels production, all power for production process is fed by hydropower), as well as biodegradable packaging and other goods replacing petroleum based products with breakthrough biomaterials (such as the Ecovative Design LLC); modular and easily disassemblable electronics to facilitate easy repair, refurbishment or upgrade; circular lighting service by Philips; wastewater treatment plants allowing phosphorus and other nutrients recovery from industrial and municipal wastewater streams; biogas production from wastewater; zero-fossil fuel fertilisers and pesticides organic farming etc. The abovementioned achievements focused on intensive use of innovations and knowhow instead of the traditional linear economy.

Conclusions

The implementation of the circular economy paradigm today provides a unique opportunity to save resources and reduce environmental pollution of the Earth. Implementation of the concepts of alternative energy sources and circular economy provides an opportunity to cope with environmental stress. The article proves that developed countries with savings potential can easily do so. In addition, the introduction of innovative technologies contributes to the growth of the competitiveness of enterprises, and as a result, the general well-being of the state and the population.

The use of hydropower, solar energy, wind energy, wave energy, combustible renewable energy sources and waste energy appears to be the most important in this context, since it is the basis of the circular economy paradigm - the rejection of the use of non-renewable resources, that is, fossil fuels. Currently, about a fifth of the countries are dealing with this issue, and this is not enough for the concept of integrated development. However, it is worth noting that the TOP-10 includes such industrialized countries as China, United States, Germany, Brazil, India, United Kingdom, Japan, Spain, France and Italy. According to this index, Ukraine ranks 36th (2022), ahead of the Czech Republic, Egypt, Viet Nam, Morocco and Hungary. The 'Global Competitiveness Index' represents the TOP-10 countries including Japan, Switzerland, the United States, Germany, China, Korea, France, the Netherlands, Singapore and the United Kingdom. Japan, United States, China, Germany, France and the United Kingdom are related to the first and second indices simultaneously. According to the "Global Competitiveness Index" as of 2022, Ukraine occupies 63 positions and is ahead of such countries as Egypt, Iran, Pakistan, Sri Lanka and Argentina. Also Europe shows the biggest interest towards the Environmental Performance Index. Currently, Ukraine ranks 52nd in the Environmental Performance Index rating (2022) and is ahead of such countries as Saint Lucia, Kiribati, Belarus, Armenia and Israel, but has lost its place to Poland, Panama, Portugal, Canada and Belize. We conclude that Ukraine pays quite high attention to the preservation of the environment and people's health and is in the middle in the ranking of 99 countries, taking a place next to such powerful and highly developed countries as Canada and Israel.

Further research is needed to correlate unaccounted factors and other approaches such as multi-regional ecologically enhanced supply and use/cost-output tables, ratio approach and analysis of Domestic Material Extraction (DME), Domestic Material Consumption (DMC), Material Footprint (MF), GDP and its combinations per capita.

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Література:

1. 17 Sustainable Development Goals. (2023). Global compact Network Ukraine. Retrieved from: https://globalcompact.org.ua/en/17-sustainable-development-goals/

2. Bocken, N., Boons, F., Baldassarre, B. (2019). Sustainable business model experimentation by understanding ecologies of business models. Journal of Cleaner Production, 208, 1498-1512. https://doi.org/10.1016/jjclepro.2018.10.159

3. Korhonen J., Nuur C., Feldmann A. (2018). Circular economy as an essentially contested concept. Journal of Cleaner Production, 175, pp. 117-125. DOI: 10.1016/j .jclepro.2017.12.111

4. McLeod F. et al. (2010). Developing innovative and more sustainable approaches to reverse logistics for the collection, recycling and disposal of waste products from urban centres: Literature review and identification of opportunities. Retrieved from: www.greenlogistics.org.

5. Anupama Sen. (2021). Beyond energy production: enhancing decarbonization through material efficiency and the circular economy. Oxford Institute for Energy Studies. Retrieved from: https://www.oxfordenergy.org/publications/beyond-energy-incentivizing-decarbonization- through-the-circular-economy/

6. Zvarich I. Ya. (2019). Implementatsiya Planu diy ES u sferi tsirkulyarnoyi ekonomiki [Implementation of the EU Action Plan in the field of circular economy]. Scientific Bulletin of the Uzhhorod National University. Series: International economic relations and the world economy. Issue 25, part 1, 93-98 [in Ukrainian].

7. Varfolomeev, M. O., Churikanova, O. Yu. (2020). Tsirkulyarna ekonomika yak nevid'emniy shlyah ukrayinskogo maybutnogo v aspekti globalizatsiyi [Circular economy as an integral path of the Ukrainian future in the aspect of globalization]. Efficient economy. No. 3. Retrieved from: http://www.economy.nayka.com.ua/?op=1&z=7929 [in Ukrainian].

8. Ruda, M.V., Mirka, Ya.V. (2020). Tsirkulyarni biznes-modeli v Ukrayini [Circular business models in Ukraine]. Management and entrepreneurship in Ukraine: stages of formation and problems of development. Volume 2, No. 1, 107-121. Retrieved from: https://chmnu.edu.ua/ wp-content/uploads/2020/10/11_-Ruda-M.-V..pdf [in Ukrainian].

9. Chabanyuk, O. M., Loboda, N. O. (2019). Osnovni printsipi kontseptsiyi stalogo rozvitku. Ratsionalne vikoristannya prirodnih resursiv ta resursozberezhennya [Basic principles of the concept of sustainable development]. Rational use of natural resources and resource conservation. Retrieved from: https://conf.ztu.edu.ua/wp-content/uploads/2019/12/64.pdf [in Ukrainian].

10. Brich, V. Ya., Ohota, V. I. (2019). Mizhnarodna konkurentospromozhnist krayin v umovah globalizatsiyi [International competitiveness of countries in the conditions of globalization]. Ternopil: TNEU, 212. Retrieved from: http://dspace.wunu.edu.ua/bitstream/316497/33672/1/% D0%91%D1%80%D0%B8%D1%87-%D0%9E%D1%85%D0%BE%D1%82%D0%B0.pdf [in Ukrainian].

11. Zhnakina, E. G. (2012). Analiz faktoriv vplivu na mizhnarodnu konkurentospromozhnist Ukrayini ta napryami yiyi pidvischennya [Analysis of influencing factors on Ukraine's international competitiveness and directions for its improvement]. Problems and prospects of cooperation between the countries of South-Eastern Europe within the framework of the Black Sea Economic Cooperation and GUAM. 2012. Issue 1. 131-134 [in Ukrainian].

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