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Initial Composition of the Growth Competitiveness Index The Growth Competitiveness Index was initially composed of three major sub- indexes: 1. the technology sub-index, 2. the public institutions sub-index, and 3. the macroeconomic environment sub-index. The above 3 sub-indexes are calculated on the basis of both “hard data” and “survey data.” The sample of countries/economies analyzed and ranked is divided into two groups: 1. Innovation-driven economies (countries/economies with more than 15 utility patents registered per million population. Also referred to as core innovator economies) 2. Non-innovation driven economies (All other countries/economies. Also referred to as factor- and investment-driven economies). INNOVATION-DRIVEN ECONOMIES For the innovation-driven economies, we place extra emphasis on the role of innovation and technology. The weightings for the innovation-driven economies are as follows: Growth Competitiveness Index for innovation-driven economies equals the sum of:  1/2 technology sub-index   + 1/4 public institutions index                                            + 1/4 macroeconomic environment index Page 1 of 6
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NON-INNOVATION-DRIVEN ECONOMIES For the non-innovation-driven economies, we calculate the Growth Competitiveness Index values as a simple average of the three component
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