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MEASURING INNOVATION AND INSTITUTION: THE CREATIVE ECONOMY INDEX

Rafal Zelazny () and Jacek Pietrucha ()
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Rafal Zelazny: University of Economics in Katowice, Poland
Jacek Pietrucha: University of Economics in Katowice, Poland

Equilibrium. Quarterly Journal of Economics and Economic Policy, 2017, vol. 12, issue 1, 43-62

Abstract: Research background: A literature review on innovativeness and institutions pointing to their correlation and the possibility of their joint examination. Purpose of the article: This paper attempts to devise a measurement method for a creative economy, where as a result of feedback between institutions, human capital and technology conditions facilitating the development of creativity are created. Methods: An empirical meta-analysis of indicators characterising innovativeness and insti-tutional environment was carried out, following the hypothesis that at least in part they contain common information on creative economy. Findings & Value added: The new synthetic index, a creative economy index (CEI), was constructed. The study was conducted for a group of 34 economies of the European Union and its associated states for the period of 2005–2014.

Keywords: innovations; institutions; creative economy; composite indicator; European Union (search for similar items in EconPapers)
JEL-codes: O30 P14 P16 F55 (search for similar items in EconPapers)
Date: 2017
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