An Instrument for Measuring National Readiness and Capacity to Participate in Global Knowledge Base Economy (original) (raw)

Journal of Accounting and Finance in Emerging Economies

An important question often asked is what are the determinants of science, technology and innovation (STI)? Is STI a measurable quantity? How can it be measured in quantitative terms? To answers these questions, a Science, Technology and Innovation Index (STII) has been developed for top 100 economies of the world on the basis of GDP, to evaluate, determine and measure the overall scientific, technological and innovative capacity and readiness of a country. The STII relies on four dimensions, each built around two or three pillars, each of which is composed of individual indicators, for a total of 44 STI indicators. The STI index is the average of aggregate of four dimensions. The economies are ranked on the basis of STII values and classified into six groups: i.e. leaders, potential leaders, dynamic adopters, slow adopters, marginalized and laggards. For more meaningful assessment of the STI capacities of nations, it captures...