Assessing the Performance of National Innovation Systems with a Helix-Based Composite Indicator: Evidence from 24 European Countries

ABSTRACT We employ the conceptual framework of “N-tuple helices” and devise a composite indicator, namely SFIGA (Society-Finance-Industry-Government-Academia), that aims at measuring the innovation performance of 24 OECD European countries from 2008 to 2017. We also investigate the effects of actors-helices on GDP per capita. The preliminary results from panel data regressions (OLS, quantile, and GMM) indicate their decisive economic importance as key actors of national innovation systems. However, the negative impact of academia on economic growth may explain a highly required resource allocation for basic research in the “knowledge economy” era. Its potential positive economic effects probably require time and patience.