VEŘEJNÉ VÝDAJE NA VÝZKUM A VÝVOJ A JEJICH VZTAH S EKONOMICKÝM RŮSTEM V ČESKU, DÁNSKU A SLOVENSKU.

This article deals with a public support of reseach and development (R&D), as R&D is of a crucial importance in creation of knowledge, products and technologies. Literature offers support for varied relationship between R&D expenditure and economic growth - positive, negative and zero. Therefore, the goal of the article is to verify the relationship between public R&D expenditures and economic growth in the Czechia, Denmark and Slovakia in the period 1995-2013. Empirical evidence is based on data collected from Eurostat database. Johansen cointegration test is applied for analysing the long-term relationship and the Error correction model is added for short-term dynamics. Results of estimations confirmed the positive long-term relationship between Gross Domestic Expenditure on R&D (GERD) and economic growth in Denmark and Slovakia. Anyway, testing public R&D expenditure by sectors of providing verified cointegration for one sector in all countries at least. Concretely, the long-term relationship was proven for all sectors in Denmark, for government, private non-profit and higher education sectors in Slovakia and for government sector in the Czechia. [ABSTRACT FROM AUTHOR]