It has been widely recognized that innovation is an important driver of economic growth. Many Low- and Middle-Income Countries (LMICs) have adopted innovation indicators to monitor innovation performance and to evaluate the impact of innovation policies. This paper argues that innovation indicators should be customized to the different socio-economic structures of LMICs. For this, the definition of innovation needs to be relevant to the multitude of innovation actors and processes in LMICs. LMICs also need to build competences not only in the construction of innovation indicators within their statistical systems, but also in the use of these indicators by among others policy makers. Especially as the fourth edition of the Oslo Manual (OM 2018) has broadened the scope of “innovation”, opening up policy space for LMICs to accommodate the diversity in their national systems of innovation and to develop accompanying innovation indicators.JEL Classification Codes: O38, O32, O29, P47http://www.grips.ac.jp/list/jp/facultyinfo/iizuka-michiko
