Innovative development indices for the national economies: on the way to the “ideal” assessment of innovation processes in the countries of the world

Purpose: is to develop recommendations for the construction of new indices of innovative development designed for cross-country comparisons. Methods: the conventional general scientific methods were used in the article, such as the ones of description, comparison, system analysis and historical comparison. The study was based on the documents describing calculation methods of the economic indices and scientific publications covering the history, specifics and problems of the practical application of those indices. Results: it is shown that since the 1930s, when the creation of economic indices drew attention of economic science, indices have evolved from the relatively simple statistical indicators to the complex tools with sophisticated calculation methods. Using several of the most famous or remarkable indices as an example, the principal methods currently used in assessing the level of innovative development are revealed. Basing on the conducted research, the major requirements for composing innovative development indices are stipulated. Conclusions and Relevance: it has been found out that in order to achieve the maximum objectivity in compiling indices of innovative development, the widest possible range of significant indicators should be used and a pool of experts should be engaged in their selection. It is also advisable to engage the pool in compiling the index formula, in particular the indicators weights. Data normalization should be used to ensure comparability of incommensurable indicators, and statistical outliers are advised to be neutralized through standardization techniques. It is also necessary to take into account the goals of the index compiled. At the same time, in the future it is necessary to take into account relationships between the actors of national innovation systems and between different innovation systems, effects of scale and, when possible, sectoral specialization of countries and other national specifics.