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Open AccessArticle

The Role of Bioeconomy Sectors and Natural Resources in EU Economies: A Social Accounting Matrix-Based Analysis Approach

1
Department of Economics, University Pablo de Olavide, 41013 Sevilla, Spain
2
Joint Research Centre, European Commission, 41092 Seville, Spain
*
Author to whom correspondence should be addressed.
Sustainability 2017, 9(12), 2383; https://doi.org/10.3390/su9122383
Received: 30 November 2017 / Revised: 11 December 2017 / Accepted: 16 December 2017 / Published: 20 December 2017
(This article belongs to the Special Issue Natural Resources Economics)
The bio-based economy will be crucial in achieving a sustainable development, covering all ranges of natural resources. In this sense, it is very relevant to analyze the economic links between the bioeconomic sectors and the rest of the economy, determining their total and decomposed impact on economic growth. One of the major problems in carrying out this analysis is the lack of information and complete databases that allow analysis of the bioeconomy and its effects on other economic activities. To overcome this issue, disaggregated social accounting matrices have been obtained for the highly bio-based sectors of the 28 European Union member states. Using this complex database, a linear multiplier analysis shows the future key role of bio-based sectors in boosting economic development in the EU. Results show that the bioeconomy has not yet unleashed its full potential in terms of output and job creation. Thus, output and employment multipliers show that many sectors related to the bioeconomy are still underperforming compared to the EU average, particularly those with higher value added; although, they are still crucial sectors for the wealth creation. View Full-Text
Keywords: bioeconomy; social accounting matrices; impact analyses; multi-sectoral models; output multipliers; employment multipliers bioeconomy; social accounting matrices; impact analyses; multi-sectoral models; output multipliers; employment multipliers
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Fuentes-Saguar, P.D.; Mainar-Causapé, A.J.; Ferrari, E. The Role of Bioeconomy Sectors and Natural Resources in EU Economies: A Social Accounting Matrix-Based Analysis Approach. Sustainability 2017, 9, 2383.

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