A lot of our original industrial development prior to 1900 was done in conditions of very limited democracy. Only wealthy people and the middle class could vote before 1907. (After that, franchise was extended to all men over 24.) Prior to that, you had to pay some minimal yearly taxes in order to have a vote, which excluded majority of the population.
After 1989, a large element in our prosperity was geographic proximity to Germany. Germans outsourced a lot of production to the Visegrad states. It definitely helped grow our GDP, but it also puts sorta-kinda ceiling on it. The most valuable parts of the entire production chain are still back in the West and they are not going to move abroad.
BTW Viktor Orbán is a great friend of the German investors and they protect him quite a bit as well. It seems that investors do not care about local state of politics much, only about stability.