Mapping Circular Economy Phenomenon in Emerging Markets

Abstract

The circular economy concept is becoming more important worldwide, promoting the closed-loop production cycle paradigm as opposed to the linear economic model. For emerging markets, the concept of CE is equally important. However, emerging economies have specific contextual conditions, which might hinder the CE’s successful implementation. Preliminary research showed the lack of comprehensive reviews on CE in emerging markets context, which became a prerequisite for conducting a systematic literature review. The purpose of the study is to distinguish research streams, concepts, and topics in the field of CE in emerging markets from a longitudinal perspective as well as to define features and conditions of CE implementation in emerging markets. The analysis was conducted using the Biblioshiny R-package tool. The results show that barriers and drivers to CE implementation in emerging markets are the most studied research areas. The most common drivers of CE development in emerging markets are attitude, social pressure, environmental commitment, consumer behavior, and institutional pressures. Low awareness and lack of environmental education are the most widespread impediments that lead to insufficient development of particular disposal. In addition, lack of regulatory incentives and insufficient infrastructure are also common barriers that limit CE development in emerging economies. The influence of Industry 4.0 technologies on CE implementation, circular business model,s and waste management are of increasing scientific interest. Moreover, features and conditions of CE implementation in emerging markets were derived. In addition, the content analysis identified possible research directions to be investigated.

Keywords

• circular economy
• emerging economics
• circularity principles
• literature review
• bibliometrix
• biblioshiny