New Plant Breeding Technologies: An Assessment of the Political Economy of the Regulatory Environment and Implications for Sustainability

Vincent Smith, Justus Wesseler and David Zilberman
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Vincent Smith: Department of Agricultural Economics and Economics, Montana State University, Bozeman, MT 59717, USA

Sustainability, 2021, vol. 13, issue 7, 1-18

Abstract: This perspective discusses the impact of political economy on the regulation of modern biotechnology. Modern biotechnology has contributed to sustainable development, but its potential has been underexplored and underutilized. We highlight the importance of the impacts of regulations for investments in modern biotechnology and argue that improvements are possible via international harmonization of approval processes. This development is urgently needed for improving sustainable development. Policy makers in the European Union (EU) in particular are challenged to rethink their approach to regulating modern biotechnology as their decisions have far ranging consequences beyond the boundaries of the EU and they have the power to influence international policies.

Keywords: bioeconomy; biotechnology; international agreements; international trade; new plant breeding technologies; political economy; regulation; sustainable development (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:13:y:2021:i:7:p:3687-:d:524560

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