2021. March 30. 12:47

Hungarian Development Opportunities of the Resilient and Innovative Space Industry

Bianka Parragh
PhD, Senior Research Fellow, József Eötvös Research Center,
University of Public Service,
Member of the Monetary Council, Hungarian National Bank

Gusztáv Báger
PhD, Senior Advisor, József Eötvös Research Center,
University Professor, University of Public Service,
Member of the Monetary Council, Hungarian Bank

Árpád Kovács
PhD, Prof. Emeritus, University Professor,
University of Szeged, Institute of Finance and International Economic Relations,
President of the Fiscal Council

Gergely Tóth
PhD, College Professor, Wekerle Business School,
Research Fellow, University of Public Service

Published in: Public Finance Quarterly 2021/1. (p. 32-49.)

Summary: This study was motivated by the fact that space industry has become one of the most innovative, rapidly developing, least crisis-sensitive industries, which grows dynamically worldwide. Its resilience to shocks is quite apparent. Since the outbreak of the pandemic1 in spring 2020, the sector preserved many jobs and created new ones, while its innovative and technological advances remained uninterrupted. This study – based on surveys, statistical and other databases – aims to take stock of the current state of the Hungarian space sector and industry, and to set out possible directions for state involvement to enhance further progress. Our research confirmed that the Hungarian space industry, although its direct contribution to social performance is moderate today, employs a significant number of highly skilled workers and introduces cuttingedge technologies. Furthermore, through its innovations and technological and scientific transfers, its contribution to the competitiveness of the Hungarian economy is significant, even at the current level of its capacities. With adequate support and wise investments, the added value, the growth and international potential and the global space industry value chain involvement the space industry can be exploited to a much greater extent than at present.

Keywords: Space Research, Space Economy, Technological Change, Covid-19, Crisis Management, International Competitiveness, Economic Growth and Sustainable Development

JEL codes: G18, H11, H12, O11, O44, Q01, Q55, Q56, Q58

DOI: https://doi.org/10.35551/PFQ_2021_1_2

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