TRANSITION TO THE CIRCULAR ECONOMY IN BRAZIL: A MULTICRITERIA DECISION MODEL FROM THE PERSPECTIVE OF NEW INSTITUTIONAL THEORY

Abstract

This study proposes a decision-making model for prioritizing strategies for the transition to a circular economy in Brazil, an emerging economy located in the Global South. The model is structured in three stages: (i) analysis of strategies versus criteria across environmental, economic, social, and technical dimensions, based on the New Institutional Theory (NIT); (ii) application of the ELECTRE method using the scale validated by Guarnieri et al. (2023); and (iii) analysis of the institutional context and formulation of recommendations. The results indicate a prioritisation of more reactive strategies, reflecting the Brazilian context. This study contributes to deepening the understanding of the transition to a circular economy and proposes a model applicable to the development of strategies, policies, and action plans aligned with regional specificities, being useful for researchers and other stakeholders involved in the process.