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Development of Localized Production and Processing Systems as a Foundation for Building a Circular Economy in Resource-dependent Regions

Year: 2025

Type: article

Abstract: The article explores the potential for developing localized production and processing systems in resource-dependent regions as a foundation for building a circular economy. It analyzes the economic, infrastructural, and institutional prerequisites for their effective functioning, as well as their role in reducing import dependence, enhancing on-site raw material processing, and establishing stable regional economic models. The significance of such systems is emphasized in terms of increasing economic self-sufficiency, resilience to external shocks, and employment diversification. The paper also examines case examples of implementing localized production and processing systems in regions characterized by a high share of extractive industries and structural constraints. The conclusion underscores the need for an integrated approach to the development of such models as a tool for territorial transformation. JEL: Q57, R11, O18, O25. Article visualizations:

Source: European Journal of Economic and Financial Research

DOI: 10.46827/ejefr.v9i4.2024

Author: Abdullina Leila

Institution: Peoples' Friendship University of Russia

Language: English

Topic: Natural Resources and Economic Development

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Industry, innovation and infrastructure, Responsible consumption and production, Decent work and economic growth

Open Access status: diamond

OpenAlex ID: W4413851337

FWCI:

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