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Product Diversification in Sustainability Transition: The Forest-Based Bioeconomy in Finland

Sustainability (Basel, Switzerland), 2019-06, Vol.11 (12), p.3293 [Peer Reviewed Journal]

2019. This work is licensed under https://creativecommons.org/licenses/by/4.0/ (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License. ;ISSN: 2071-1050 ;EISSN: 2071-1050 ;DOI: 10.3390/su11123293

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  • Title:
    Product Diversification in Sustainability Transition: The Forest-Based Bioeconomy in Finland
  • Author: Luhas, Jukka ; Mikkilä, Mirja ; Uusitalo, Ville ; Linnanen, Lassi
  • Subjects: Burning ; Climate change ; Diversification ; Economic growth ; Economies of scale ; Employment ; Exports ; Forests ; GDP ; Gross Domestic Product ; Innovations ; Market positioning ; Pulp ; Pulp & paper industry ; Sustainability ; System theory ; Technological change ; Wood products
  • Is Part Of: Sustainability (Basel, Switzerland), 2019-06, Vol.11 (12), p.3293
  • Description: The forest-based bioproduct field has diversified into the chemical, medical, energy, nanoproduct, and construction material sectors. This paper argues that forest-based bioeconomy has kept the focus on conventional products and new bioproducts have primarily been developed as extensions to existing product portfolios due to a lock-in mechanism, i.e., a state where an economy gradually locks itself to a dominant market position due to technical interrelatedness, economies of scale, and quasi-irreversibility of investment. The study examines forest-based product transition in the context of lock-in mechanisms through narrative analysis over the past 170 years. A theoretical framework is formulated based on complex system studies and the economics of lock-in mechanisms. The relation between the lock-in mechanisms of the regime and product diversification is described for the forest-based bioeconomy in Finland. The study supports previous findings indicating that interactions occur between the lock-in mechanisms. Furthermore, lock-in mechanisms can have a neutral, adverse, or beneficial effect on product diversification. The paper extends knowledge about the role and functioning of lock-in mechanisms in changing market environments. Recent trends in network development and foreign investment, and their effects on industrial symbiosis and product diversification, is recommendable to consider in future research.
  • Publisher: Basel: MDPI AG
  • Language: English
  • Identifier: ISSN: 2071-1050
    EISSN: 2071-1050
    DOI: 10.3390/su11123293
  • Source: GFMER Free Medical Journals
    ROAD: Directory of Open Access Scholarly Resources
    ProQuest Central
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