INNOVATION MEASUREMENT REVISITED: COMPARISON OF THREE MAIN MEASURES

Innovation is interpreted as a tool enabling economic development, growth and international competition. It is vitally important in both macro and micro level, thus measuring of innovation also emerge as a crucial issue. The purpose of this study is to compare Global Innovation Index (GII), European Innovation Scoreboard (EIS) and Innovation Subindex of Global Competitiveness Index (GCI-Inn) to have insight of innovation understanding of different perspectives. The reports and previous studies are examined for this purpose in respect to structural formations, common grounds and outcome differences. It is found that innovation conceptualization and innovation measurement is not standardized. For a more thriving measurement, it is suggested to combine the advantages of three measures such as number of countries in GCI and GII, detailed perspective of GII and SME emphasis of EIS.