The V4 Countries Beer Market Development

The aim of the paper is to find out the relationship between beer productions in separate V4 countries. Logarithmic regression analyses with corrected heteroscedasticity and autocorrelation is used to observe the relationship between beer production as dependent variable and independent variables beer consumption, barley and hops yield, imported and exported quantity. All estimated logarithmic regression models are statistically highly significant. Variables without statistical significance are not interpreted. All interpreted variables are inelastic. Except of Czech Republic beer consumption is significant variable in relation to beer production what can suggest export orientation of Czech breweries. Exported beer quantity is significant variable in given model. In Slovakia barley yield is statistically significant but negatively correlated to beer production. In other countries barley and hops yields are not statistically significant. This may mean that these crops are not directly used in domestic beer production. Crops are exported in order to obtain higher added value from side of primary producers. Based on that, beer is mostly produced from intermediate products or imported from other countries.