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Econometric analysis of circular economy co-flow process in metal industry

Author

Listed:
  • Shalinee Sourabh

    (Indian Institute of Technology)

  • Balagopal G. Menon

    (Indian Institute of Technology)

  • Biswajit Mahanty

    (Indian Institute of Technology)

Abstract

The process of circular economy is gaining momentum in view of the ongoing nature depletion scenario in the world. The present study develops a co-flow econometric model on Cobb–Douglas aggregate production function framework for the circular economy process. The developed model is estimated using full information maximum likelihood estimation for the Indian copper industry. For the present systemic behaviour sustaining to future, the primary and secondary copper production was found to exhibit counterintuitive behaviour of “overshoot and collapse” beyond the year 2026. It is evidenced that the maximum environmental impact out of circular economy occurs in 2025 and maximum reduction of environmental impact occurs in 2029 in the copper industry. The circular economy induced rebound effect is found to fluctuate between the range of − 2.57 to 2.16 with backfire, partial rebound and super-conservation. The rebound effect is found to be unstable over time. The resource displacements show an overshoot and collapse behavior during the period 2025 and 2027. The overshoot and collapse behaviour needs more exploration to understand the underlying resource dynamics and for designing, experimenting and implementing nature conservation policies as the resource limits are approached.

Suggested Citation

  • Shalinee Sourabh & Balagopal G. Menon & Biswajit Mahanty, 2024. "Econometric analysis of circular economy co-flow process in metal industry," Quality & Quantity: International Journal of Methodology, Springer, vol. 58(2), pages 1583-1602, April.
    • Handle: RePEc:spr:qualqt:v:58:y:2024:i:2:d:10.1007_s11135-023-01709-5
    DOI: 10.1007/s11135-023-01709-5
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