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Monthly Report No. 2/2021


  • Alexandra Bykova

    (The Vienna Institute for International Economic Studies, wiiw)

  • Richard Grieveson

    (The Vienna Institute for International Economic Studies, wiiw)

  • Julia Grübler

    (The Vienna Institute for International Economic Studies, wiiw)

  • Magdolna Sass
  • Tamás Szemlér


Special Issue 30th Anniversary of the Visegrád Agreement Chart of the month Strong economic convergence, but increasing political challenges by Alexandra Bykova and Richard Grieveson Opinion Corner Looking backward, looking forward by Tamás Szemlér The Visegrád Group is celebrating its thirtieth anniversary. Over the past three decades, its member states have also become full-fledged members of the most important Euro-Atlantic integration structures. The group still offers important possibilities, but it should continue to be regarded as a piece in the complex Euro-Atlantic puzzle – rather than as an alternative to it. Time for a Paradigm Shift? by Julia Grübler Despite the Visegrád countries’ generally positive economic performance since 1991 and their successful integration into the Central European manufacturing core, important challenges still lie ahead. Policies towards sustainable development should form a central plank of the agenda in the region over the coming years. FDI-based models and what the future may have in store for them by Magdolna Sass The economic strategy of the Visegrád countries has largely been based on attracting foreign direct investment (FDI). Although it showed some vulnerability during the global financial crisis, prompting governments to place greater emphasis on domestic economic players in certain sectors, the general reliance on foreign capital was left intact – and on some measures even increased. The trend towards de-globalisation, Industry 4.0-related developments, lack of viable powerful domestic economic growth engines and the COVID-19 pandemic may herald a renaissance in FDI-based growth (in a more inward-looking EU). And that is the most likely scenario for the Visegrád countries in the near future. Monthly and quarterly statistics for Central, East and Southeast Europe

Suggested Citation

  • Alexandra Bykova & Richard Grieveson & Julia Grübler & Magdolna Sass & Tamás Szemlér, 2021. "Monthly Report No. 2/2021," wiiw Monthly Reports 2021-02, The Vienna Institute for International Economic Studies, wiiw.
  • Handle: RePEc:wii:mpaper:mr:2021-02

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    References listed on IDEAS

    1. Martin Bijsterbosch & Marcin Kolasa, 2010. "FDI and productivity convergence in Central and Eastern Europe: an industry-level investigation," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 145(4), pages 689-712, January.
    2. Iwasaki, Ichiro & Tokunaga, Masahiro, 2016. "Technology transfer and spillovers from FDI in transition economies: A meta-analysis," Journal of Comparative Economics, Elsevier, vol. 44(4), pages 1086-1114.
    3. Jan Drahokoupil & Brian Fabo, 2019. "The limits of foreign-led growth: Demand for digital skills by foreign and domestic firms in Slovakia," Working and Discussion Papers WP 7/2019, Research Department, National Bank of Slovakia.
    4. Sallai, Dorottya & Schnyder, Gerhard, 2018. "The transformation of post-socialist capitalism – from developmental state to clan state?," Greenwich Papers in Political Economy 18535, University of Greenwich, Greenwich Political Economy Research Centre.
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    Cited by:

    1. Éltető, Andrea & Sass, Magdolna, 2021. "A kapitalizmus változatai és az ipar 4.0 a visegrádi országokban [Varieties of capitalism and industry 4.0 in the Visegrad countries]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 490-514.

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