A cluster-based approach for the innovation assessment of countries

Abstract

In this paper, 100 countries investigated by World Economic Forum are analyzed and compared according to their innovation and technological readiness related criteria for 2004 and 2007 respectively. In total, 15 criteria taken into consideration. The countries are clustered to find their respective position in terms of innovation and technological readiness. In order to improve the accuracy of the cluster analysis and to reduce the subjectivity, a combination of hierarchical and non-hierarchical clustering is used.