Innovativeness, its Indicators and Indices

This paper deals with a critical analysis of composite indexes that are, at times, used as a means to assess economic systems, and as a tool helpful in crafting policies of economic development. The main point of criticism is oriented on the European Innovation Scoreboard, because it is the main standard to evaluate levels of innovativeness in the European Union. The need to emphasize aspects of technical effectiveness of innovation systems and quantification of National Innovation Systems has been emphasized. In such a manner constraints, drawbacks, and practical limitations of currently used descriptive approaches has been underlined.