IMPLICATIONS OF GLOBAL ECONOMIC CRISIS ON BIOTECHNOLOGY INDUSTRY
Keywords:
biotechnology, GM, industry, agriculture, global crisisAbstract
In 2008, like the rest of the global economy, the biotech industry was faced with a world economic crisis and its consequences: dramatic reduction in available capital, the share price fall and reduction of the venture capital, and the closure of a significant number of companies. Despite the difficulties the financial results were more than favorable. The industry last year for the first time in the history of business has achieved overall profitability. Monsanto, the most important agricultural biotechnology company achieved record net profits from the sale. The paper concludes that the financial crisis contributed to the concentration of capital and strengthening the monopoly position of multinational companies.
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References
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2. Димитријевић, М., Петровић, С. (2004): Генетски модификовани организми. Питања и одговори. Зелена мрежа Војводине.
3. Ernst&Young (2009): Beyond Borders: Global Biotechnology Report 2009. http://www.trra.ca/en/reports/resources/ErnstYoungBeyondBordersGlobalBiotechnologyReport-2009.pdf.
4. Ernst&Young (2010): Beyond Borders: Global Biotechnology Report 2010. http://www.ey.com/Publication/vwLUAssets/Beyond_borders_2010/$File/Beyond_borders_2010.pdf.
5. ISAAA (2009): ISAAA Brief 41/2009: Executive Summary, Global status of Commercialized Biotech/GM Crops: The first fourteen years, 1996 to 2009.
6. http://www.isaaa.org/resources/publications/briefs/41/executivesummary/default.asp.
7. Kaskey, J. (2009): Monsanto to Charge as Much as 42% More for New Seeds (Update3). http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aLW8VZBkP3PA
8. Папић, Т., Ловре, К. (2008): Политика мултинационалних компанија у производњи генетски модификованих биљних култура. Економика пољопривреде 4: 389-396.
9. Phillips McDougall (2010): Agrifutura, April 2010. http://www.phillipsmcdougall.com/news.asp?newsId=72.
10. Phillips McDougall (2010b): Crop protection R&D set to increase ahead of inflation through 2012 to $3bn. http://www.croplife.org/library/attachments/3a491cde-fcba-409b-9c47-a45ae94da3cb/2/Phillips%20McDougal%20R&D%20report.pdf.
11. Hubbard, K. (2009): Out of Hand, farmers face the consequences of a consolidated seed industry, National Family Farm Coalition.
12. http://farmertofarmercampaign.com/
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Published
2010-09-30
How to Cite
Papić- Brankov, T., & Lovre, K. (2010). IMPLICATIONS OF GLOBAL ECONOMIC CRISIS ON BIOTECHNOLOGY INDUSTRY. Economics of Agriculture, 57(3), 369–376. Retrieved from https://ea.bg.ac.rs/index.php/EA/article/view/1109
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Review articles
