Towards an economics of the bioeconomy: four years later

Abstract

This paper provides a summary of the evolution of the bioeconomy and compares it with trends in related economics literature. The objective is to discuss how the bio-based economics literature from recent years matches real world concerns and to emphasise emerging needs, in order to derive implications for economic research. Though ‘bioeconomy economics and policy’ is still far from being a well-established discipline, the current literature seems to recognise scope for its development together with (and contributing to) the development of the bioeconomy as a whole. Several emerging research areas are identified, ranging from the quantification of bioeconomy components and biomass flows, to the political economy of the bioeconomy. However, the economics of the bioeconomy needs most likely to develop not as an independent research area, but rather in close connection with the more ‘traditional’, but highly lively and innovating, areas of agriculture and food economics.