Technological Capability Monitoring Index, A New Composite Index for Measuring Technological Capabilities of Nations

Considering the important role of technological capability in economic growth and increase in the welfare of the countries, the issue of technological capability monitoring has gained great importance in recent years. So far, various international models have been designed and introduced in relation to technological capability evaluation. Regarding the innate characteristics of composite indexes which involve some deficiencies; using the experiences of internationally accredited models, it is tried in this study to introduce a new composite index for technological capability monitoring in order to better evaluate the technological capabilities of countries from various aspects. Also, it is tried through provision of the logical weights resulting from the application of factor analysis to design a more practical index for various countries, particularly, those developing countries suffering from imbalanced development. In this study, 17 indicators were selected on the basis of a specific process from among 37 internationally important indicators regarding technological capability. Then, on the basis of factor analysis of the available data in relation to the selected indicators, the 17 indicators were placed in 3 aspects, and specific weights were assigned to the aspects and indicators by factor analysis. Finally, based on the combination of 17 indicators in 3 aspects, the composite index of technological capability monitoring was created. On the whole, the composite index of technological capability monitoring, adds new capabilities besides other international indexes to the issue of technological capability monitoring.

Keywords:

Technological Capability , World Technological Capability Monitoring , Composite Index