Measurement of innovation: the use and misuse of indicators and scoreboards

Attila Havas

No 1921, CERS-IE WORKING PAPERS from Institute of Economics, Centre for Economic and Regional Studies

Abstract: The choice of indicators to measure innovation processes and assess performance is of vital significance. This paper argues that those economic theories give a more accurate, more reliable account of innovation activities that follow a broad approach of innovation, that is, consider all knowledge-intensive activities leading to new products (goods or services), processes, business models, as well as new organisational and managerial solutions, and thus take into account various types, forms and sources of knowledge exploited for innovation by all sorts of actors in all economic sectors. In contrast, the narrow approach to innovation focuses on the so-called high-tech goods and sectors. The broad approach is needed to collect data and other types of information, on which sound theories can be built and reliable and comprehensive analyses of innovation activities can be offered to decision-makers to underpin public policies and company strategies.

Keywords: Schools of economics; Mainstream economics; Evolutionary economics of innovation; Measurement of innovation; Composite indicators; Scoreboards, league tables (search for similar items in EconPapers)
JEL-codes: B52 C80 O31 O38 Y10 (search for similar items in EconPapers)
Pages: 63 pages
Date: 2019-11
New Economics Papers: this item is included in nep-cse, nep-hme, nep-ino and nep-sbm
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:has:discpr:1921

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