Regional economic impact

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Nordregio and Innovation Center Iceland conducted a study on the regional economic impact and potential of the Nordic bioeconomy as part of the NordBio programme in 2014-2015. For analysing regional direct and indirect economic impacts, a methodology of Input-Output analysis was implemented in a regional case study context. Input-Output accounting is a method for analysing the economic interactions between sectors in an economy and for calculating “multipliers” which indicate the potential of a sector or product to stimulate a wider economic impact. Such sectors/activities can be studied from a “scenario” based perspective, too, based on knowledge about their production processes and interactions with already existing sectors.