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Among the world's largest innovative economies, many of them are not getting enough for their money.
This is the lesson of the latest annual publication of the Global Innovation Index, which measures the most innovative economies and separately calculates an "innovation efficiency ratio" ".
Of the top 10 innovators, Switzerland, Germany, Sweden and the Netherlands were the only countries to rank among the top 10 for the effectiveness of innovation. The contrast is particularly striking for Singapore, which has reached 5 for innovation but 63 for efficiency. On the other hand, Luxembourg benefits from much more production than its input, at No. 2 for efficiency, but at No. 15.
Source: Global Innovation Index 2018
Published each year by Cornell University, INSEAD Business School and the World Intellectual Property Organization, the report collects scores among 126 economies. The measure of efficiency is calculated by dividing the "outputs" of an economy, such as patent applications and the increase in labor productivity, by "inputs" that include expenditures. research and development and the opening up of financial markets. The wider gauge averages the scores of entry and exit.
While most economies have a linear relationship between inputs and outputs, China "strongly outperforms," according to the report. China also stands out as the only economy among the top 30 innovators, at No. 17, which is not ranked among high-income countries by the World Bank.
Other economies can celebrate rankings that show at least that they perforate over their weight. South Africa, Tunisia and Colombia were "successful innovators" for the first time this year, having achieved at least 10% more than their peers in their income group. Vietnam, India, Rwanda, Thailand and Bulgaria were among the top 20 performers in the report.
These successful countries have more structured institutional frameworks and "promote better integration with international markets". The report.
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