Proposed Sets of Supplementary Science, Technology and Innovation Indicators for Latecomer Economies at the Firm and Country Levels

This paper aims to suggest a supplementary set of STI indicators for late-comer economies both at the firm and country levels. Shortcomings of existing indicators are examined. This paper explores recent and on-going initiatives by several organisations around the world. By comparing innovation surveys in Korea and Thailand, the paper highlights stark differences between the ‘active’ late-comer firms and ‘learning-intensive’ innovation systems of the former, and the ‘passive’ late-comer firms and ‘weak and fragmented’ innovation systems of latter. Looking beyond these factors, technological capability development of less-innovative firms might happen in other activities, such as project execution and production. In order to better capture reality, indicators of these kinds of capabilities should be initiated. Also, indicators explaining ‘systemic failure’, which is a much larger factor in less-successful late-comer economies, should be initiated. These additions will lead to more effective formulation and implementation of STI policies.