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Prof. Dr. Elsadig Musa Ahmed Anwar Ammar
2017 World Association for Sustainable Developed Conference
E-mail: [email protected]
Mobile: +60126330517
16th -18th May 2017, Manama, Kingdom of Bahrain
Faculty Of Business
BIOECONOMY AND ITS CONNECTION
TO KNOWLEDGE-BASED ECONOMY
The knowledge-based economy (K-economy)
is not confined to information and
communication technology (ICT). Before the
evolution of the ICT, it was the knowledge that
was embodied in human beings' “human
capital” and technology that were embodied in
the capital investment undertaken by the Asian
economies that brought about the so-called
Asian miracle.
The bioeconomy refers to the production of a
wide range of goods and services, from plant,
animal and forest-based material. It is more
than just grain based bio-fuels or bio-diesel as
extensively highlighted in Latin America. It’s
related to biotechnology activities and other
bio activities based on knowledge generated
from the bio activities and extension of
Knowledge-based economy.
The main concern of developing bioeconomy
is the environmental damage through the
undesirable output produced by the activities
of bioeconomy. Moreover, the bioeconomy
centered on research and development (R&D)
collaborations across deferent sectors and
public and private sector in order to
breakthrough new products through invention
and innovation.
For the bioeconomy to be realized
and put in practice it should be well
developed regulatory framework as a
platform for the bioeconomy to be
run and work smoothly.
Changes in productivity are a major concern in
any economy, because of the link between
productivity and living standards. The ultimate
goals of productivity improvement are greater
competitiveness, higher profitability, higher
living standards, and better economic and
social prosperity.
TFP which indicated as the combined contribution of
quality of the factors of production and an indicator of
the technological progress that is showing the spillover
effects that must transfer the technology to the hosting
economy and upgrade the skills of its human capital,
that is what called productivity driven.
*TFP can explain the growth in a K-based economy
because it captures endogenous technical change and
other characteristics of the K-based economy, including
diffusion of knowledge, organisation, restructuring,
networking, and new business models that would
contribute to market efficiency and productivity.
In terms of methodology the paper closed the gap in past studies under taken in bioeconomy research by introducing three variation models to measure bioeconomy contribution to the economies via combined methods of both econometric and growth account methods to calculate the parameters of the variables involved and productivity indictors based on extensive growth theory and intensive growth such as (labour productivity and capital productivity). This is considered to be the significant contribution of this study to the body of knowledge.
Bioeconomy is new stream of knowledge-based
economy that existed in the new era of the information
and communications technology (ICT) that is provided
hardware and software to facilitate economic activities
around the globe. Beside ICT as a driver of knowledge-
based economy, bioeconomy emerged based on biotechnology revolution.
It should be noted that the bioeconomy refers to the
production of a wide range of goods and services, from
plant, animal and forest-based material. It is more than
just grain based bio-fuels or bio-diesel as extensively
highlighted in Latin America. It’s related to
biotechnology activities and other bio activities based
on knowledge generated from the bio activities and
extension of Knowledge-based economy that evolved
due to ICT and human capital significant contribution
to the economic activities.
Unlike Latin American countries that
narrowed bioeconomy to biofuel activities
related to agricultural activities, USA is the
first to publish its bioeconomy blueprint in
2012 that is explained wide range of
bioeconomy activities that linked to
knowledge-based economy activities.
The main concern of developing bioeconomy is the
environmental damage through the undesirable
output produced by the activities of bioeconomy and
human health concern. To ensure the sustainable
development in its three dimensions (technological
progress, social development and environmental
protection) that should be addressed through
addressing green productivity issues to ensure the
right of forthcoming generations to enjoy better
standard of living and wellbeing.
Moreover, the bioeconomy centered on research and
development (R&D), smart partnerships and
collaborations across deferent sectors and public and
private sector in order to breakthrough new products
through invention and innovation. Finally, for the
bioeconomy to be realized and put in practice it
should be well developed and agreeable regulatory
framework as a platform for the bioeconomy to be
run and work smoothly to overcome all the issues
associated with it products around the globe.