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Global Innovation Index 2014 released

Jul 19, 2014 15:40 IST

The Global Innovation Index 2014 (GII) was released at the B20 Australia Summit held in Sydney on 18 July 2014. The 2014 Index was released by the Australia’s industry minister Ian Macfarlane.

GII 2014 in its 9th edition covers 143 countries around the world and uses 81 indicators across a range of theme.

The theme of the GII 2014 is Human Factor in Innovation and the main authors of the GII 2014 are Soumitra Dutta, Bruno Lanvin, and Sacha Wunsch-Vincent.

Main highlights of the Index

  • Switzerland topped the GII rankings like 2013 while the UK took the second position. Sweden, Finland and the Netherlands are ranked third, fourth and fifth respectively.
  • USA is ranked on 6th position followed by Singapore, Denmark, Luxembourg and Hong Kong at seventh, eighth, ninth and tenth position respectively.
  • As of 2013, a fall in the growth of public R&D support coupled with the continued hesitancy of company R&D expenditures seems to be leading to slower overall growth of total R&D expenditures worldwide; this is the case especially in high-income countries.
  • The GII 2014 confirms the continued existence of global innovation divides even within income groups. All top 25 economies are in the high-income group. China and Malaysia are the only upper-middle income countries getting closer to these ranks
  • Sub-Saharan Africa is the region that sees the most significant improvement in GII rankings in 2014. Thirty-three countries make up the region in the GII.
  • The BRICS economies show signs of divergence, with China improving at a significantly faster pace than its BRICS counterparts and India slipping back.
  • The retention of cohort of most productive innovators is a neglected but important policy objective for developing countries. Developing countries should pursue priorities other than the provision of research and innovation infrastructure necessary to retain the elite cohort.
  • It posits that successful innovation requires the population to obtain a higher level of education, to be more creative, and to boost their ability to perceive essential achievements in science, technology, and innovation (STI) and implement those in daily practices.
  • Imparting and emphasising on science does not lead to innovation as there exists a negative correlation between national-level student test scores in science and interest in science.
  • Improving skills is one of the most important ways to raise innovation, productivity, and economic growth, and to improve social welfare and equality.
  • The regions with the highest numbers of people with tertiary education and with the highest enrolment ratios in higher education are also those with the most researchers as a proportion of the total population. North America and Western Europe and Central and Eastern Europe are the two such regions.
  • The highest growth rates in enrolment in tertiary education are in Asia dominated by China, with the exception of Central Asia, where the gross enrolment ratio even decreased after 2007.
  • The magnitude of the global emigration rate of highly skilled persons from Africa is striking: it is estimated at 10.6 percent (9.7 percent for migration to OECD countries), compared with other regions of origin and the world average of 5.4 percent (4.3 percent to OECD countries).
  • The leading countries of origin among immigrants with a highest degree in science and engineering are China and India.
  • Economies that are catching up are more dependent on technology transfer than they are on original R&D. R&D is generally unprofitable in countries with low levels of human capital.

India and GII 2014

  • India slipped 10 notches on the Global Innovation Index (GII) 2014. India fell from the 66th position to the 76th on the index.
  • India became the only one among the BRICS economies that fell in the rankings of countries based on their innovation capabilities.
  • China was the best among BRICS nations at 29th position, an improvement of six places. Russia went up 13 places at 49th rank. South Africa ranked 53rd, went up five places, while Brazil at 61st position, moved up three places.
  • The divergence of India from the rest of the BRICS economies is the result of the challenges it faces in integrating its efforts along the different dimensions of innovation to sustain a high level of innovation success.

About the Global Innovation Index

The Global Innovation Index (GII) was first published in 2007. It is the result of collaboration between Cornell University, INSEAD, and the World Intellectual Property Organization (WIPO).

The GII 2014 is calculated as the average of two sub-indices. The Innovation Input Sub-Index gauges elements of the national economy which embody innovative activities grouped in five pillars: (1) Institutions, (2) Human capital and research, (3) Infrastructure, (4) Market sophistication, and (5) Business sophistication. The Innovation Output Sub-Index captures actual evidence of innovation results, divided in two pillars: (6) Knowledge and technology outputs and (7) Creative outputs.

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Quick Digest

Who: Global Innovation Index 2014

Where: Sydney , Australia

What: Released

When: 18 July 2014

Is this article important for exams ? Yes128 People Agreed

DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

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