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Hungarian Development Opportunities of the Resilient and Innovative Space Industry

Bianka Parragh (), Gusztav Bager (), Arpad Kovacs () and Gergely Toth ()
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Bianka Parragh: PhD, Senior Research Fellow, József Eötvös Research Center, National University of Public Service Member of the Monetary Council, Hungarian National Bank
Gusztav Bager: PhD, Senior Advisor, József Eötvös Research Center, University Professor, National University of Public Service Member of the Monetary Council, Hungarian National Bank
Arpad Kovacs: PhD, University Professor, University of Szeged, Institute of Finance and International Economic Relations President of the Fiscal Council
Gergely Toth: PhD, University Professor, Wekerle Sándor Business School Research Fellow, National University of Public Administration

Public Finance Quarterly, 2021, vol. 66, issue 1, 32 - 49

Abstract: Today, the space industry is one of the most innovative, least crisis-sensitive industries, which grows dynamically worldwide. Its development during the pandemic period preserved jobs and created new ones. The research confirmed that through the development of the space industry the so-called incentive state can support the development of the economy, making the country's industry more resilient and at the same time more competitive. The Hungarian space industry, although its economic contribution is only moderate today, employs a significant number of highly skilled workers and introduces cutting-edge technologies. The study analyzes the possible direction and components of the state's role in the development of the Hungarian space sector. With appropriate support and deliberate investments, the added value, growth potential and international cooperation of the space industry can be exploited to a much greater extent than at present.

Keywords: Space Research and Economy; Technological Change; Covid-19; Crisis Management; International Competitiveness; Economic Growth and Sustainable Developement (search for similar items in EconPapers)
JEL-codes: G18 H11 H12 O11 O44 Q01 Q55 Q56 Q58 (search for similar items in EconPapers)
Date: 2021
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