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Philippines ranks 74th out of 128 economies in innovation

Cbanga360.Net - The Bicol Street Journal

Published         3 Sep , 2016      12:18 am          189 views.

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The 2016 Global Innovation Index edition ranks the Philippines on the lower levels, under the 50 percent among the 128 economies covered in the study. The encouraging part of the survey is that the country moved up from its previous rankings. The report jointly released by World Intellectual Property Organization (WIPO), Cornell University and INSEAD ranked economies in terms of their Global Innovation Index (GII) based on 82 indicators.

In the 2016 Global Innovation Index (GII) report, the Philippines was 74th on innovation among 128 economies surveyed.

The report jointly released by World Intellectual Property Organization (WIPO), Cornell University and INSEAD ranked 128 economies in terms of their Global Innovation Index (GII) based on 82 indicators.

The 9th edition of the index explored impacts of innovation-oriented policies on economic growth and development reflected through strategies employed by both high-income and developing countries.

Top countries with highest GII rank include Switzerland, Sweden, UK, USA, Finland and Singapore.

The 2016 index edition had fot its theme “Winning Global Innovation.”

The report discussed the growing importance of innovation among countries today in achieving future economic growth and the sharing of knowledge cross-border through global innovation networks.

The index also include indicators that go beyond the traditional measures such as the level of research and development that can be applied for both developed and emerging economies.

The country was ranked 95th from 123rd in 2015 in human capital and research. It measured the quality of the country’s education with its research and development.

The country edged up in six other GII indicators which include institution (88th from 102nd), infrastructure (72nd from 83rd), market sophistication (94th from 101st), business sophistication (74th from 81st), knowledge and technology outputs (44th from 53rd), and creative outputs (96th from 101st). (PIA)

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