Resumen
The purpose of this paper is to analyse the impact of knowledge on economic growth of transition countries. The aim is to identify the correlative relationship between the achieved level of development of the knowledge economy measured by KEI (Knowledge Economy Index) and level of GDP (Gross Domestic Product) and economic growth in transition countries by applying of appropriate methods. The methods of comparative, correlation and regression analysis are used in the paper. The paper includes the following three parts: the analysis of the achieved level of the knowledge economy development in transition countries based on the KEI and its pillars; analysis of the actual level of GDP and economic growth in transition countries; testing of correlation between the KEI, on the one hand, and GDP and its growth, on the other hand and analysis of the influence of pillars within the KEI on GDP of transition countries. The results of the research indicate a weak correlation between the KEI and GDP in analysed countries. Based on them, we can conclude that knowledge is not a significant factor in the economic growth of transition countries.