Resumen
This paper is an attempt to analyze a possible influence of economic growth on innovation performance. Econometric model based on principal component analysis is the research tool. Poland, as a country in transition, is here a case-study. The analysis has confirmed an interesting pattern: in 1989-2007, corporate innovation performance was changing, in principle, in the same direction as macro-economic changes but with a oneto-two-year delay. This is some proof that the innovation activity followed the cyclical development of the national economy. Innovation performance was demand-driven, i.e., pulled by demand resulting from the economy?s recovery and high economic growth. So, technological innovation appeared to be highly sensitive to the general economic situation in Poland as a transitional economy. Economic growth seems to be a kind of tagboat pulling innovation activities in the business sector.