Measuring innovation and institution: the creative economy index

  • Rafał Żelazny University of Economics in Katowice
  • Jacek Pietrucha University of Economics in Katowice
Keywords: innovations, institutions, creative economy, composite indicator, European Union

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 institutional environment was carried out, following the hypothesis that at least in part they contain common information on creative economy.
Findings and 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.

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Published
2017-03-31
How to Cite
Żelazny, R., & Pietrucha, J. (2017, March 31). Measuring innovation and institution: the creative economy index. Equilibrium. Quarterly Journal of Economics and Economic Policy, 12(1), 43-62. https://doi.org/https://doi.org/10.24136/eq.v12i1.3
Section
Regional convergence and growth based on innovations