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Transforming Development: Circular Economy And Economic Growth In The Global South

Author

Listed:
  • MARINOV, Eduard

    (New Bulgarian University; Economic Research Institute at the Bulgarian Academy of Sciences; University of Insurance and Finance; Sofia, Bulgaria)

Abstract

The article explores the intersection of circular economy (CE) and economic growth in developing countries, with a particular focus on Africa. It argues that CE is more than a technical framework for waste management – it is a transformative model that can foster industrial innovation, strengthen resilience, and promote inclusive development. Drawing on theoretical debates, comparative regional experiences, and case studies from Africa, the paper shows how CE contributes to employment creation, resource efficiency, and competitiveness. At the same time, structural constraints such as weak infrastructure, limited financing, and fragmented governance hinder its expansion. By analysing these dynamics, the article identifies conditions under which CE can support sustainable growth and highlights policy priorities, including integration of the informal sector, access to finance, and coherent national roadmaps for inclusive and resilient transitions.

Suggested Citation

  • MARINOV, Eduard, 2025. "Transforming Development: Circular Economy And Economic Growth In The Global South," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 13(1), pages 236-248, October.
    • Handle: RePEc:vls:rojfme:v:13:y:2025:i:1:p:236-248
    DOI: https://doi.org/10.65672/jfme.2025.1.22
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    Keywords

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    JEL classification:

    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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