Abstract
The bioeconomy emerges as an opportunity to focus on a more sustainable economy, avoid dependence on non-renewable resources and help to mitigate negative environmental impacts. The bioeconomy is considered a priority for the European Union and for Spain, which launched its strategy in 2016. To promote the Spanish bioeconomy, the impact and variables that may influence its development must be known. While previous works have analyzed the domestic sectors, this paper focuses on analyzing the economic importance of Spanish bioeconomy products and on the influence of and the existing links between the foreign sector and the rest of the economy. For this purpose, we apply two different methodologies based on linear social accounting matrix (SAM) models. The linkages show that many bioeconomy products have the potential to promote the rest of the economy and the values of some product multipliers become more significant due to their import dependence. These results enable us to know the structure of the Spanish bioeconomy and the relationships within its account. This analysis is a useful tool for developing policies focused on fostering the bioeconomy and economic growth.
Highlights
The world is currently facing major problems related to the environment that impact climate change, such as resource scarcity, excess waste generation and an increase in greenhouse gas (GHG)emissions [1]
Climate change has a significant effect on health emergencies around the world [5], and the European Union (EU) has created an economic recovery fund in response to the crisis caused by the COVID-19 pandemic, stating that this recovery should focus precisely on the environmental transition, aiming for a sustainable economy
This study is considered a first approximation to be able to know and quantify the importance and influence of the foreign sector in the generation of income of the economy, but it can be deepened with the inclusion of data that extend the detail of the study [18]. These results enable us to identify the most suitable sectors to be promoted for developing policies focused on fostering the bioeconomy and economic growth, this article focuses on the economic analysis of the bioeconomy in Spain, without taking any social or environmental variables into account
Summary
The world is currently facing major problems related to the environment that impact climate change, such as resource scarcity, excess waste generation and an increase in greenhouse gas (GHG)emissions [1]. The world is currently facing major problems related to the environment that impact climate change, such as resource scarcity, excess waste generation and an increase in greenhouse gas (GHG). Mechanism” and the “European Climate Law”, the main priorities of which are fighting climate change and making Europe climate-neutral by 2050 [4]. Climate change has a significant effect on health emergencies around the world [5], and the EU has created an economic recovery fund in response to the crisis caused by the COVID-19 pandemic, stating that this recovery should focus precisely on the environmental transition, aiming for a sustainable economy. The environmental issues, together with the expected growth of the global population and our current lifestyles, demonstrate the need to look for alternative solutions focused on a sustainable path
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