Measuring and Accounting for Innovation in the Twenty-First Century

This book offers insights into measuring innovation's impact on economic activity and proposes new methodologies for understanding modern economies.

In Measuring and Accounting for Innovation in the Twenty-First Century, the authors delve into the complexities of measuring innovation in an era defined by rapid technological advancements. The digital revolution has transformed economic activity, yet traditional national accounts and economic statistics often fall short in capturing the nuances of this new landscape. This book addresses the urgent need for updated methodologies that can accurately reflect the innovative activities shaping modern economies.

The contributors to this volume provide a comprehensive examination of how innovation influences economic metrics, production processes, labor markets, and organizational structures. By exploring innovative measurement techniques, such as analyzing data specific to individual innovations rather than just firms, the book offers fresh insights into how to effectively track innovation. It also highlights the role of trademarks as valuable indicators of innovative activity and discusses the important connections between university research and business startups.

Furthermore, the research presented in Measuring and Accounting for Innovation in the Twenty-First Century proposes strategies for enhancing existing measurement frameworks. This includes a focus on global value chains to identify innovation across various contexts and a deeper analysis of innovation's impact on GDP in sectors like consumer content delivery and cloud computing. Ultimately, this book serves as a vital resource for researchers, policymakers, and statisticians aiming to better understand and quantify the effects of innovation in today's economy.