The Role of the Foreign Sector in the Spanish Bioeconomy: Two Approaches Based on SAM Linear Models

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.

Reposition of Forward-to-Backward Input-Output Analysis

“…This matrices have been used either for analysis with stable prices and altering quantities by quantity-oriented endogenous or exogenous stimuli on the components of intermediate and final demand, or for analysis with stable quantities and changing cost and prices due to cost-push endogenous or exogenous stimuli on the intermediate and the value added productive factors (Pham et al, 2007;Trinh et al, 2012;Choi et al, 2014;Escaith, 2014;Soklis, 2014;Trinh and Phong, 2014;Economakis et al, 2015;H. A. Bekhet et al, 2016;Imansyah et al, 2017;Kolokontes et al, 2018;Mariolis et al, 2018;Muchdie et al, 2018;Kolokontes et al, 2019;Mariolis et al, 2019;Teves, 2019;Ferreira et al, 2020;Han et al, 2020;Kolokontes et al, 2020;Thai et al, 2020;Markaki and Economakis, 2021;Trinh and Thai, 2021).…”

“…H. Bekhet, 2010;Guerra and Sancho, 2010;A. H. Bekhet, 2011;Pnevmatikos et al, 2013;Ramos and Moreno, 2013;Sancho, 2013;Grassini, 2014;Soklis, 2014;Temurshoev and Oosterhaven, 2014;Aroche Reyes and Marquez Mendoza, 2015;Kelly, 2015;de Mesnard, 2016;Oosterhaven, 2017;Yasmin and Bekhet, 2017;Giannakis and Mamuneas, 2018;de Mesnard, 2019bde Mesnard, , 2019aKolokontes et al, 2019;Oosterhaven, 2019;de Lima Almeida and de Freitas Balanco, 2020;Ferreira et al, 2020;Hung et al, 2020;Kolokontes et al, 2020;Mariolis and Soklis, 2020;Trinh, 2020).…”

The bioeconomy in Spain as a new economic paradigm: the role of key sectors with different approaches

“…Despite its importance, little work has been done to analyse the potential of the bioeconomy sectors due to the lack of suitable databases and methodologies. Although different studies have measured the size of the bioeconomy by calculating the biobased shares of the sectors involved (Efken et al, 2016 ; Ronzon & M’Barek, 2018 ; Ronzon et al, 2022 ; Vandermeulen et al, 2011 ), or using econometric models (Lochhead et al, 2016 ), the influence of the analysis with multisectoral models, for the analysis of economic, social and/or environmental variables, is clear, for example for Netherlands (Heijman, 2016 ), Poland (Loizou et al, 2019 ), Finland (Lehtonen & Okkonen, 2013 ), Brazil (Maia & Bozelli, 2022 ), the EU and member states (Ferreira et al, 2020 , 2021 ; Mainar-Causapé, 2019 ; Philippidis & Sanjuán, 2018 ). To this end, the Input–Output tables, and the Social Accounting Matrices (SAM) stand out as databases.…”