The macroeconomic spillovers from space activity

Area of Science:

• Economics
• Space Science
• Technological Innovation

Background:

• The resurgence in space activities presents potential for economic spillovers.
• Understanding the link between space investment and real economy growth is crucial.

Purpose of the Study:

• To propose a macroeconomic model integrating endogenous growth and a space sector.
• To analyze the relationship between space investment and technological spillovers.

Main Methods:

• Development of a macroeconomic model with an endogenous growth framework.
• Estimation of growth spillovers from space activities.
• Extensive experiments to quantify economic relevance.

Main Results:

• Space activities generated significant growth spillovers, peaking between the late 1960s and early 1980s.
• Current space activities exhibit a considerably lower economic impact compared to historical peaks.
• Model experiments confirmed the economic significance of space-driven technological spillovers.

Conclusions:

• While space activities historically fostered economic growth, recent impacts are diminished.
• The proposed model highlights the role of space investment in driving long-term economic development.
• Further research may explore factors influencing the economic returns of contemporary space endeavors.