Belarusian Economic Research and Outreach Center
 Nadezhda Batova, Pyotr Sachek, Irina Tochitskaya

On the Way to Green Growth: Window Opportunities of Circular Economy

The paper deals with opportunities of circular economy for ensuring green growth. Analysis and comparison of concepts of sustainable development, green and circular economy revealed that despite similarity there is a differences in ways of their implementation. It is shown that the green economy is one of a tool for achieving sustainable development, and the circular economy acts as a practical way of putting it into effect. The concept of circular economy is interlinked with various scientific schools of environmental economic system, each of which can be considered as directions of its development. The review of literature revealed two approaches to definition of circular economy (i.e. resource-focused and economic-focused), and helped authors to offer own interpretation of this concept. It emphasized a priority of reorganization of material-flow processes over improvement of a production technology. The authors paid a special attention on justification of a need to rethink a value chain creation when moving from a linear type economic system to circular ones, and consider the arears of circular economy’s implementation. It is shown that impact of circular economy on economic system has both positive, and negative economic, industrial, social, and institutional effects.
This paper opens the series of research publications made within the BEROC project on the development of green economy in Belarus.
 
The Policy Paper is available only in Russian.