This book is about measuring innovation, not just in the business sector but in every sector of the economy, using, for the first time, an internationally agreed general definition of innovation. The resulting indicators can be used to inform policy development, and offer a better understanding of the impact of the innovation policy of governments, the strategy of businesses and the practice of households, in a more digital economy. Innovation is a systems phenomenon and systems provide a structure throughout the book.

Because of the role of innovation as a driver of economic productivity and growth and as a mechanism for improving people's well-being in other ways, understanding the nature,determinants, and impacts of innovation has become increasingly important to policy makers. To be effective, investment in innovation requires this understanding, which, in turn, requires measurement of the underlying inputs and subsequent outcomes of innovation processes. In May 2016, at the request of the National Center for Science and Engineering Statistics of the National Science Foundation, the Committee on National Statistics of the National Academies of Sciences, Engineering, and Medicine convened a workshop - bringing together academic researchers, private and public sector experts, and representatives from public policy agencies - to develop strategies for broadening and modernizing innovation information systems.This publication summarizes the presentation and discussion of the event.

"Measuring innovation is a challenging task, both for researchers and for national statisticians. This task is timely and valuable given that policy and public interest in innovation has become increasingly intense in this era of digital revolution, yet National GDP Accounts and other economic statistics do not fully account for the wide range of innovative activity that is plainly evident in everyday experience. Indeed, innovation has in many ways changed the structure of an increasingly digitized marketplace, from cloud computing to the gig economy. The papers collected in this volume, Measuring and Accounting for Innovation in the Twenty-First Century, address many different dimensions of this challenge, ranging from how to best to define GDP to the fundamental question of what is an innovation and how to collect data at the level of an individual innovation. Taken together, the volume provides a comprehensive overview of the cutting-edge of this widely varied but thematically-connected research that draws on multiple methodologies and data. The editors and authors consider how measurement frameworks could be expanded to enhance our understanding of innovative activity; new approaches and evidence that could account for innovation's economic impact; innovation's effect across the economy, from production processes to labor markets and financial activities; and what practical adjustments could be made to current measurements that would better capture innovation. The distinctive stance of this volume makes clear that the challenge of measuring innovation and understanding its implications has become increasingly complex as the economy has evolved. The editors and authors show that the limitations of our existing measurement system significantly hinder researchers, analysts, and policymakers. Better measures of innovative activity are necessary to interpret the consequences of innovation in daily life and to inform policies that best promote the attendant benefits, including distribution of income, trademark protections, and more. Now, in an era of fake news and alternative facts, it is more important than ever to push for accuracy in basic economic facts"--

Measuring Innovation is a major step towards evidence-based innovation policy making. It complements traditional “positioning”-type indicators with ones that show how innovation is, or could be, linked to policy.

Measuring Innovation is a major step towards evidence-based innovation policy making. It complements traditional “positioning”-type indicators with ones that show how innovation is, or could be, linked to policy.

Because of the role of innovation as a driver of economic productivity and growth and as a mechanism for improving people's well-being in other ways, understanding the nature,determinants, and impacts of innovation has become increasingly important to policy makers. To be effective, investment in innovation requires this understanding, which, in turn, requires measurement of the underlying inputs and subsequent outcomes of innovation processes. In May 2016, at the request of the National Center for Science and Engineering Statistics of the National Science Foundation, the Committee on National Statistics of the National Academies of Sciences, Engineering, and Medicine convened a workshop - bringing together academic researchers, private and public sector experts, and representatives from public policy agencies - to develop strategies for broadening and modernizing innovation information systems.This publication summarizes the presentation and discussion of the event.

Providing nuanced insight into key areas of innovation studies, this erudite second edition acknowledges the significance of innovation within the informal economy. It contributes to the broader scholarly discourse on innovation indicators and measurement, exploring the nature and rate of recent developments within the field.