We introduce novel finite element schemes for curve diffusion and elastic flow in arbitrary codimension. The schemes are based on a variational form of a system that includes a specifically chosen tangential motion. We derive optimal $L^2$- and $H^1$-error bounds for continuous-in-time semidiscrete finite element approximations that use piecewise linear elements. In addition, we consider fully discrete schemes and, in the case of curve diffusion, prove unconditional stability for it. Finally, we present several numerical simulations, including some convergence experiments that confirm the derived error bounds. The presented simulations suggest that the tangential motion leads to equidistribution in practice.
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