Management summary: Research study „Changes in Economic Sentiment Indicators before and after Economic Crisis (position of Visegrad Group and Germany in EU)“
The aim of this paper is to offer a more precise view of the development of economic sentiment in the EU countries, especially in Germany and the Visegrad group countries (the V4). As tools for this description, a business sentiment indicator (ESI) and confidence indicators were applied. For analysis of changes in business sentiment and respondents’ confidence, the graphical examination of variables, correlation analysis, changes in standard deviation, changes in countries’ ranking, and the comparison of average sentiment (confidence) in the pre-crisis and the post-crisis period were used. Our analysis indicates the equivalent to the so-called hallo effect in the pre-crisis period for the V4 (the positive expectation connected with the EU accession) and the deterioration in sentiment and confidence indicators in the post-crisis period. Since the answers from the opinion surveys are subjective, the empirical relationship between sentiment indicators and economic variables is not unambiguously established. In these conditions, the results of business surveys and the findings published by competitiveness rankings (e.g. Global Competitiveness Report) should not be accepted by representatives of business sphere unconditionally.
Target groups of stakeholders: stakeholders and professional public interested in the issue of measuring economic sentiment and national competitiveness
Citation: Necadova, M. (2019). Changes in Economic Sentiment Indicators before and after Economic Crisis (Position of Visegrad Group and Germany in EU). Central European Business Review, 8(4), 55-85. doi: 10.18267/j.cebr.220.