Measuring Creativity in the EU Member States

With the increasing role of creativity in economic growth, researchers have gained great interest in the study of the creative economy and placed it as an important topic in their research and political agendas. Given the increasing importance attributed by researchers and policymakers to the concept of creativity and creative economy, the increasing interest of researchers in defining and estimating indexes of creativity is no surprise. These indexes provide analytical tools to assess the economic impact of the creative economy and are useful to measure the effectiveness of political decisions. In this paper we compare twelve selected indexes of creativity and we identify their strengths and weaknesses. Then, based on the evaluated indexes of creativity, we propose a new one. Estimating the proposed index of creativity, we compare our results with Florida's global creativity index (Florida et al., 2011).