Development of Circular Economy in Modern Conditions

Podlevska Oksana () and Podlevskyi Andrii
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Podlevska Oksana: The National University of Water and Environmental Engineering, Rivne, Ukraine
Podlevskyi Andrii: The National University of Water and Environmental Engineering, Rivne, Ukraine

Economics, 2023, vol. 11, issue 2, 97-112

Abstract: The concept of a circular economy in the world arose in response to growing consumption and, as a result, to the accumulation of a mass of waste that cannot be quickly processed in the natural environment and has a harmful effect on the environment. The introduction of a circular economy along with the modernization of production will provide Ukrainian society with double benefits. First, the reuse of already consumed resources allows you to obtain significant benefits both in terms of savings in their purchase and in reducing the costs of waste disposal. Secondly, the burden on the environment is reduced and the problems of waste disposal are solved, which positively affects the country’s ecosystem. The essence and types of decoupling as a strategic basis for the development of the green economy are analyzed. The actualization of the use of decoupling for Ukraine in the context of highlighting issues of its environmental and economic security is shown. Calculations of the integral decoupling factor for Ukraine were carried out. Based on the results of the calculations, conclusions were made regarding the effectiveness of the system of nature management and management of the socio-economic development of the state, directions for solving problems and prospects for further research were determined. The conducted analysis made it possible to draw conclusions that at this stage of economic development there is an urgent need to transition to an inclusive and circular economy. The results of the conducted research can be used in the development of the strategy of green economy and sustainable development of countries.

Keywords: circular economy; environmental safety; balanced development; decoupling; efficiency (search for similar items in EconPapers)
JEL-codes: O13 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:econom:v:11:y:2023:i:2:p:97-112:n:11

DOI: 10.2478/eoik-2023-0025

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