Measuring creative capacity of Visegrad Four countries’ economies

Abstract

Abstract In this paper we study creative capacity of economies of Visegrad Four countries in the period 2000-2011. Creativity index is constructed based on the 3Ts concept of talent, technology and tolerance being the key components of the creativity. Creativity index is measured and calculated with both the cross-section and the time series dimensions. The paper provides index as an open source with the description of variables and their respective weights. Comparison of the creative capacity of economies is based on the empirical results of the Creativity index and its components. Czech Republic is the first and Hungary is the second in the ranking continuously during the examined period. Talent and technology areas are the main reasons for differences between the two leading countries and the rest.