The concept of a circular economy in the context of sustainable development

Inna Gryshova and Kateryna Nesterova

Ekonomika, Journal for Economic Theory and Practice and Social Issues, 2021, vol. 28, issue 4

Abstract: The purpose of the article is to identify key differences between the circularity and sustainability of the system, to develop the systematization of the circular economy principles, innovative business models aimed to ensure it, as well as regulatory measures of public authorities to stimulate and support circular economy taking into account a progressive foreign experience. Економіка АПК, 2021, № 4 93 Research methods. In the course of the research the method of comparative analysis (assessment of measures of state regulatory policy in some countries of the world), abstract-logical method (problem statement, substantiation of conclusions), monographic method (analysis of evolution of national and foreign scientists works on circular economy), dialectical methods of cognition were used. Research results. The peculiarities of the circular economy are highlighted, it is emphasized that the circularity of the system and sustainability are interrelated concepts, but not identical. It is determined that the circular economy is a set of economic tools and methods used to ensure the sustainable development of the system. It is substantiated that the introduction of a circular economic model requires a change or adaptation of current business models according to new conditions and needs of housekeeping. The main measures of the state regulatory policy of some countries of the world to support and stimulate such business models are analyzed. Scientific novelty. The theoretical basics of the circular economy have been further developed, the purpose of which is to ensure sustainable development by optimizing the use of resource potential and innovative business models with systematic governmental support. Practical significance. It is proved that the development of a circular economic model is impossible without an active state regulatory policy. The measures of the state regulatory policy on support of circular business models are offered. Tabl.: 2. Refs.: 20.

Keywords: Sustainability (search for similar items in EconPapers)
Date: 2021
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