Bloomberg has published its 2016 ranking of World’s Most Innovative Economies, which scores economies using seven factors including research and development spending; manufacturing value-added; productivity; concentration of high-tech; tertiary efficiency; researcher concentration; and patent activity.
For the first time the ranking has seen Kazakhstan in top 50, while Russia has moved up to 12th place from 14th last year. The absolute leader is South Korea as it is heavily investing in research and development. It is followed by Germany, Sweden, Japan and Switzerland. The top ten most innovative countries also includes Singapore, Finland, the US, Denmark and France.
Worth mentioning, that the world’s second largest economy China took only 21th place in the ranking. According to Jay Bryson, global economic at Wells Fargo, it is reasonable, given its status as a developing country in which technologies are largely copied rather that created.
In the Bloomberg Innovation Index Malaysia took 25th place, Hong Kong at 37th, India at 45th.
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