ROLE OF GOVERNMENTS IN PROMOTING THE TRANSITION TO CIRCULAR ECONOMY

Victoria Iordachi (), Rodica Perciun () and Olga Timofei ()
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Victoria Iordachi: National Institute for Economic Research of Moldova, Republic of Moldova
Rodica Perciun: National Institute for Economic Research of Moldova, Republic of Moldova
Olga Timofei: National Institute for Economic Research of Moldova, Republic of Moldova

Contemporary Economy Journal, 2020, vol. 5, issue 1, 55-66

Abstract: The transition to a circular economy has gained a special attention, being on the agenda of public authorities, the business environment, research institutes and non-governmental organizations. Thus, it is expected to bring about significant opportunities in creating new, better-quality jobs and contributing to a more sustainable economic growth. The process of transition to a circular economy is closely related to the reconsideration of unsustainable consumption and production models in order to determine future development opportunities. In Europe, there has been a real interest of the state governments for the implementation of programs and legislation measures on the circular economy. Government actions play a crucial role in making a circular philosophy a reality. This article reviews the efforts of the initiatives of some EU states in modernizing and transforming the European economy, in order to make it move in a more sustainable direction. At the same time, state policies from the experience of advanced countries are described, which can serve as a good example for countries that want to promote the circular economy. The analysis of the Circular Economy practices has proved the limits of its implementation. As a result, it can be concluded that to date there is no government that developed a comprehensive approach to develop the transition plan to circular economy.

Keywords: Circular Economy; sustainable economic growth; economic instruments; policy measures; sustainable development (search for similar items in EconPapers)
JEL-codes: O11 O13 Q57 (search for similar items in EconPapers)
Date: 2020
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