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Innovation rankings: good, bad or revealing?

Yuezhou Cai and Aoife Hanley

Applied Economics Letters, 2014, vol. 21, issue 5, 325-328

Abstract: The standard indicators used to compare cross-country innovation are in the Global Competitiveness Report (GCR). But there are problems with aggregation and response bias with these largely self-reported measures (Hollanders and van Cruysen, 2008).We propose a theory-based metric using Data Envelopment Analysis which corrects for sample bias and considers returns to scale. The derived ranking compares well to components of the GCR. Moreover, in second-stage estimations, our corrected efficiency score correlates well with standard Growth Theory indicators.

Date: 2014
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