Macroeconomic impacts of ICT investments: A comparison of the efficiency of ICT investments and selected sectors in the Visegrad Four countries

This bachelor's thesis examines the macroeconomic impacts of investments in information and communication technologies (ICT) in the Visegrád Four countries (Czech Republic, Slovakia, Hungary, and Poland). The aim is to analyze whether and how ICT investments contribute to gross domestic product (GDP) growth, labor productivity improvement, and unemployment reduction, and to compare their efficiency with investments in other key sectors, specifically industry, science and technology, and trade, transport, and accommodation. The analysis is based on Eurostat data for the period 2014–2023 and employs quantitative methods such as correlation analysis, Granger causality tests, linear regression models, and the Cobb-Douglas production function. These methods allow for the verification of relationships between sectoral investments and key macroeconomic indicators. The results show that ICT investments have a differentiated impact across the V4 countries. In some cases, they significantly contribute to GDP growth or labor productivity, while in others, their efficiency lags behind investments in traditional sectors, such as industry. The findings also confirm that the effectiveness of investments is influenced by the specific characteristics of each economy and its institutional environment. The thesis provides recommendations for economic policy aimed at improving the effectiveness of ICT investments and highlights the need to consider regional differences in strategic investment planning.