INNOVATION PERFORMANCE OF THE SLOVAK REPUBLIC AND ITS REGIONAL DISPARITIES

One of the most important lessons of the past two decades is the key role of innovation in economic development. The accumulation of the innovation capacities plays a central role in the growth dynamics of all successful developing countries. Innovation is the driving force of each economy, economic competitiveness, and an essential component of the knowledge economy, which is based on the production of higher added value. However, the innovation performance and potential differ significantly among the EU regions, as in Slovakia. Using statistical methods, this research article provides insight into the causal relationship to the regional development rate measured in terms of GDP per capita and investments in R&D, to indicate the significant regional disparities in Slovakia in the field of innovation performance..