Abstract:

There are two main objectives of the article: a) to analyse GDP growth rate in the Visegrad countries in the years 2003-2016 with special attention given to the potential influence of the last global financial crisis; b) to assess the differences in the degree of the impact of the global crisis on the economies. In the research the multiresolution analysis was applied, which enabled to assess the GDP growth rate for selected countries and the level of its fluctuations at various levels of resolution. The above-average, negative values of the GDP growth rate and the high volatility of its fluctuations at selected levels of resolution may indicate an instability of the economy and its sensitivity to negative shocks, which form the long term perspective can be considered as a barrier for sustainable growth based on entrepreneurial attitudes of societies. The research confirms the existence of a different degree of resilience of these economies to the global crisis. This indicates that the practice of grouping the Visegrad in a single investment risk basket, which is still present, does not have to be justified.