International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

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Volume 8 Issue 5
September-October 2026

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Outcome Based Innovation Measurement Index

Author(s) Mr. Kameshwar Singh, Prof. Dipankar Sengupta
Country India
Abstract This paper combines the multidimensional nature of innovation in a single composite indicator based on outcome instead of inputs to capture the level the innovation in an economy. The indicators selected are intellectual property charges, patents, foreign direct investment and high technology exports which are innovation outcome characteristics of an economy. The method used for construction of composite indicator is geometric mean. This index is different from other existing indices of innovation in that it does not consider inputs as indicators of innovation which is methodologically flawed in the sense that inputs hardly get converted into outputs. The countries taken are those whose data are available in the public domain of the considered variable. The index is constructed for the year 2018. The rank correlation is calculated between the countries ranked with the outcome based innovation index and the index constructed by World Intellectual Property Rights Organization known as global innovation index which is also a measure of innovation but it includes inputs as well as outputs as indicators of innovation at macroeconomic level. The rank correlation between the two indices is found to be 0.92 which makes the outcome based innovation index a good measure of innovation at an economy level. The proposed measure of innovation duplicates the rankings of GII without the methodological flaws.
Keywords Composite indicator, outcome based innovation measurement, geometric mean.
Published In Volume 8, Issue 5, September-October 2026
Published On 2026-09-16
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E-ISSN 2582-2160
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CrossRef DOI prefix of IJFMR is 10.36948/ijfmr

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