László Török

University of Debrecen, Faculty of Engineering,

Hungary

dr.torok.laszlo@eng.unideb.hu 

ORCID 0000-0003-1924-215X

The contribution of the Visegrad four automotive industry to economic growth

Abstract. In the countries of the Visegrad Four (V4) (Czech Republic, Poland, Hungary, Slovakia), significant and modern car production capacities were built due to foreign direct investment inflows. According to the results of mainstream research, the automotive industry can make a substantial contribution to the growth of the GDP of the affected national economy. In the V4 countries, the opposite has taken place in the automotive industry over the past decade. Automotive production increased in the Czech Republic, Hungary, and Slovakia but decreased in Poland. The study seeks to answer the question of the close relationship between automotive output and changes in GDP in the countries concerned. The correlation calculation results show that the automotive industry has a powerfully positive effect on GDP growth in countries where the sector's contribution is significant and growing dynamically.

Received: January, 2021

1st Revision: December, 2021

Accepted: March, 2022

DOI: 10.14254/2071-8330.2022/15-1/6

JEL Classification: L62, O11

Keywords: Visegrad Four, GDP, economic growth, automotive, correlation