Measurement of Innovation: Where Do We Stand?

7 Pages Posted: 20 Nov 2018

Date Written: September 8, 2016


Innovation is widely considered as the main determinant of long-term economic growth. Despite this consensus, it is arduous to measure its economic effect at the firm and aggregate level. The objective of the present paper is to propose a critical examination of innovation indicators and measures of the economic impact of innovation. All available innovation indicators fall short of measuring innovation and its economic effect. However, the future could be more promising as enterprises are moving to a more quantitative management. The ’datafication’ of their management could make available the information that innovation economists have long hoped for.

Keywords: innovation, measurement, patent, productivity, R&D

JEL Classification: C81, D24, E01, O30, O47

Suggested Citation

Artige, Lionel, Measurement of Innovation: Where Do We Stand? (September 8, 2016). 2016 ENTRENOVA Conference Proceedings. Available at SSRN: or

Lionel Artige (Contact Author)

University of Liege ( email )

B-4000 Liege

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