Achieving a blue economy through the circular initiatives: a path towards sustainable marine living resources.

ABSTRACT

This paper empirically examines the role of circularity performance on the performance of marine living resources to prove its role in promoting a sustainable blue economy. We use five different metrics to quantify the marine living resources of nations in the European regions, including the value added at the factor costs of small-scale capture fisheries, shellfish aquaculture, freshwater aquaculture, marine aquaculture, and large-scale capture fisheries. By using various econometric techniques, we provide evidence of the importance of circularity performance in improving the sustainability of the blue economy in the European region during the 2009-2020 period. However, it is more likely that this effect is only positive in the long term. In the long run, circularity performance affects many marine living resource components in a statistically meaningful way.