Using global innovation index (GII) to evaluate the economic development towards modern industry

Abstract

Innovation is the key factor of the industrial revolution 4.0. Therefore, it is necessary to include indicators that measure the level of national innovation in the criteria system of evaluating the development of a country towards modern industry. The paper focuses on analysing the properties, measurement methods, and actual use of the Global Innovation Index (GII) in an economy through such contents as: identifying the role of inovation in economic development; using GII to analyse the innovation of Vietnam in relation to other countries; proposing the use of GII as a necessary indicator in a set of criteria to avaluate a modern industrialised country. Keywords: innovation, Global Innovation Index (GII).