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The Circular Economy: A review of definitions, processes and impacts

Author

Listed:
  • Rizos, Vasileios
  • Tuokko, Katja
  • Behrens, Arno
Abstract
Transforming the linear economy, which has remained the dominant model since the onset of the Industrial Revolution, into a circular one is by no means an easy task. Such a radical change entails a major transformation of our current production and consumption patterns, which in turn will have a significant impact on the economy, the environment and society. Understanding these impacts is crucial for researchers as well as for policy-makers engaged in designing future policies in the field. This requires developing an in-depth knowledge of the concept of the circular economy, its processes and their expected effects on sectors and value chains. This paper reviews the growing literature on the circular economy with the aim of improving our understanding of the concept as well as its various dimensions and expected impacts. On the basis of this review, it attempts to map the processes involved and their application in different sectors. The paper suggests that research on the circular economy is currently fragmented across various disciplines and there are often different perspectives and interpretations of the concept and the related aspects that need to be assessed. This fragmentation is also evident in the available studies that adopt different approaches in calculating the impacts, which makes efforts at comparing the results from different sources very challenging. Finally, this paper suggests that there is limited information on the indirect effects on the economy (e.g. impacts on the value chain or changes in consumption spending patterns) as well as the social impacts of the circular economy transition.

Suggested Citation

  • Rizos, Vasileios & Tuokko, Katja & Behrens, Arno, 2017. "The Circular Economy: A review of definitions, processes and impacts," CEPS Papers 12440, Centre for European Policy Studies.
    • Handle: RePEc:eps:cepswp:12440
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    File URL: https://www.ceps.eu/system/files/RR2017-08_CircularEconomy_0.pdf
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    References listed on IDEAS

    as
    1. Vasileios Rizos & Arno Behrens & Wytze Van der Gaast & Erwin Hofman & Anastasia Ioannou & Terri Kafyeke & Alexandros Flamos & Roberto Rinaldi & Sotiris Papadelis & Martin Hirschnitz-Garbers & Corrado , 2016. "Implementation of Circular Economy Business Models by Small and Medium-Sized Enterprises (SMEs): Barriers and Enablers," Sustainability, MDPI, vol. 8(11), pages 1-18, November.
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    5. Arnold Tukker, 2004. "Eight types of product–service system: eight ways to sustainability? Experiences from SusProNet," Business Strategy and the Environment, Wiley Blackwell, vol. 13(4), pages 246-260, July.
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