ROLE OF BIOECONOMY IN THE ECONOMIES OF VISEGRAD GROUP MEMBER STATES

NAGY VIVIEN ÁGNES

Keywords: Keywords: input-output analysis, Leontief coefficients, network analysis, backward and forward linkages JEL codes: Q01, Q57, B22

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DOI: https://doi.org/10.53079/GAZDALKODAS.70.3.t.pp_244-264
It is widely known that in our decade, the harmony between economic growth and sustainability is becoming increasingly important. It is a well-known fact that one of the obvious and increasingly important tools for achieving this goal is the development of the bioeconomy. The aim of this study is to analyse how the bioeconomy systems of the Visegrad Group (V4) member states can be characterised, what the characteristics of this sector are in the countries examined, and what the possibilities for further development are. The database for the research was provided by the input-output tables of the Organisation for Economic Co-operation and Development (OECD) covering a number of countries. Input-output analysis, network research, and value chain analysis methods have been used for this study. The analyses confirm that agriculture, the food industry, and – in some V4 countries – the furniture industry continue to form the backbone of bioeconomic systems. This also means that the use of agricultural products is marginal in several sectors, such as the textile and pharmaceutical industries, which were previously significant users of agricultural products. It has been confirmed in all countries that bioeconomy plays an extremely important role in stimulating demand and boosting economies, but the disposal of surpluses can cause significant problems. Cross-border value-flows are relatively weak. It is noteworthy that the domestic value-added content of Hungarian food exports is significantly lower than that of the other V4 countries. In summary, it can be concluded that the integrated development of bioeconomic systems can simultaneously promote sustainability, economic recovery, and increased competitiveness.