Reassessing Global Innovation Metrics: Critical Analysis of GII Indicators and Intangible Investment Trends

Authors

  • Archil Chirakadze PhD, Georgian Technical University Institute "Techinform", Tbilisi, Georgia Georgian Technical University Institute of Cybernetics, Tbilisi, Georgia Ivane Javakhishvili Tbilisi State University Institute of Physics, Tbilisi, Georgia
  • Nodar Mitagvaria Ivane Beritasvili Center of Eperimental Biomedicine, Tbilisi, Georgia
  • Neli Makhviladze Georgian Techical University, Tbilisi, Georgia
  • Teimuraz Chubinishvili Georgian Techical University, Tbilisi, Georgia
  • Nodar Sulashvili MD, PhD, Doctor of Pharmaceutical and Pharmacological Sciences In Medicine, Invited Lecturer (Professor) of Scientific Research-Skills Center at Tbilisi State Medical University; Professor of Medical and Clinical Pharmacology of International School of Medicine at Alte University; Professor of Pharmacology of Faculty of Medicine at Georgian National University SEU, Associate Affiliated Professor of Medical Pharmacology of Faculty of Medicine at Sulkhan-Saba Orbeliani University; Associate Professor of Medical Pharmacology at School of Medicine at David Aghmashenebeli University of Georgia; Associate Professor of Biochemistry and Pharmacology Direction of School of Health Sciences at the University of Georgia. Associate Professor of Pharmacology of Faculty of Dentistry and Pharmacy at Tbilisi Humanitarian Teaching University; Tbilisi, Georgia; Orcid: https://orcid.org/0000-0002-9005-8577
  • Deva Harsha Uday Gundluru University of Georgia, Tbilisi, Georgia
  • Giorgi Palavandishvili Georgian Techical University, Tbilisi, Georgia
  • Khtuna Tserodze Georgian Techical University, Tbilisi, Georgia
  • Kakha Gorgadze Georgian Techical University, Tbilisi, Georgia
  • Nana khuskivadze Georgian Techical University, Tbilisi, Georgia
  • David Aphkhazava PhD, University of Georgia, Tbilisi, Georgia, Orcid: https://orcid.org/0000-0001-6216-6477

Keywords:

Global Innovation Index, innovation metrics, intangible investment, indicator validation, correlation analysis, knowledge economy, innovation assessment methodology, sustainable development indicators, WIPO, economic development clusters

Abstract

This study critically examines the reliability and validity of indicators used in calculating the Global Innovation Index (GII), while investigating emerging trends in intangible versus tangible investment patterns across developed and developing economies. Through correlation analysis of 13 development indicators across 100 countries (2021-2024), we reveal significant inconsistencies in widely-used GII metrics across different economic development groups. Our findings demonstrate that several conventional innovation indicators fail to correlate appropriately within specific country clusters, potentially compromising the accuracy of global innovation assessments. Simultaneously, analysis of the World Intellectual Property Organization's (WIPO) 2025 World Intangible Investment Highlights reveals that intangible investment has grown 3.7 times faster than tangible investment between 2008-2024, reaching USD 7.6 trillion in 2024. This research identifies critical gaps in current innovation measurement methodologies and provides evidence-based recommendations for refining GII calculation methods. The study emphasizes the need for rigorous indicator validation, incorporation of sustainable development metrics, and recognition of the growing dominance of intangible assets in driving economic innovation. Our results suggest that continued reliance on unvalidated indicators may lead to systematic misassessment of national innovation capabilities, with implications for policy-making and resource allocation in the global knowledge economy.

Published

2025-12-22

How to Cite

Archil Chirakadze, Nodar Mitagvaria, Neli Makhviladze, Teimuraz Chubinishvili, Nodar Sulashvili, Deva Harsha Uday Gundluru, Giorgi Palavandishvili, Khtuna Tserodze, Kakha Gorgadze, Nana khuskivadze, & David Aphkhazava. (2025). Reassessing Global Innovation Metrics: Critical Analysis of GII Indicators and Intangible Investment Trends. Theoretical Hypotheses and Empirical Results, (12). Retrieved from https://ojs.publisher.agency/index.php/THIR/article/view/7495

Issue

No. 12 (2025): Theoretical Hypotheses and Empirical Results

Section

Economic sciences

License

Creative Commons License

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