In­no­va­tion index

The Pak Banker - - FRONT PAGE -

Global in­no­va­tion index (GII), an an­nual rank­ing of coun­tries, is pub­lished by Cor­nell Univer­sity and the World In­tel­lec­tual Prop­erty Or­gan­i­sa­tion (WIPO), which is one of the 15 spe­cialised agen­cies of United Na­tion.The WIPO was cre­ated in 1967, to en­cour­age cre­ative ac­tiv­ity and to pro­mote the pro­tec­tion of in­tel­lec­tual prop­erty through­out the world in part­ner­ship with other or­gan­i­sa­tion and in­sti­tu­tions. GII is based on both sub­jec­tive and ob­jec­tive data from sev­eral sources, in­clud­ing the In­ter­na­tional Telecom­mu­ni­ca­tion Union - a spe­cialised agency of the UN, the World Bank and World Eco­nomic Fo­rum. The GII is com­monly used by gov­ern­ment of­fi­cials to com­pare coun­tries by their level of in­no­va­tion.

The key find­ings of GII 2018 com­prises of some cru­cial in­sights. The rank­ing listed that be­com­ing op­ti­mistic about global in­no­va­tions and growth makes it pos­si­ble. The cur­rent chal­lenge for the global econ­omy is to reach a com­fort­able com­mon speed which can be sus­tained for the next sev­eral years. Mean­while, the global spec­trum of in­vest­ment in sci­ence and tech­nol­ogy as well as in ed­u­ca­tion and hu­man cap­i­tal has wit­nessed im­por­tant pos­i­tive shifts over the last three decades. How­ever un­der-de­vel­oped coun­tries must har­ness se­ri­ous poli­cies for in­no­va­tion, re­search and devel­op­ment.

Se­condly, the re­port em­pha­sised on the role of con­tin­u­ous in­vest­ments in en­ergy in­no­va­tion for global growth. Com­pelling pro­jec­tions in­di­cate that by 2040, the world will re­quire upto 30 per­cent more en­ergy than it needs to­day. In­no­va­tion plays a vi­tal role in meet­ing the global en­ergy de­mands. Var­i­ous en­ergy in­no­va­tion sys­tems need to col­lab­o­rate in tak­ing wise steps for en­ergy stor­age and distri­bu­tion. More­over the re­port found that pub­lic pol­icy plays a cen­tral role in driv­ing the en­ergy tran­si­tion.

Amongst high-in­come coun­tries, Switzer­land, the Nether­lands, Swe­den, Ger­many, Ire­land, Lux­em­bourg, and Hungary stand out for their high level of pro­duc­tiv­ity and out­put. Among up­per-mid­dle-in­come coun­tries, China strongly over­per­forms in the said ef­fi­ciency re­la­tion­ship, whereas Malaysia slightly un­der­per­forms. Among lower- mid­dle economies, Ukraine, the Repub­lic of Moldova, and Viet­nam stand out as per­form­ing bet­ter than would be ex­pected by their lev­els of in­puts. Among the mid­dle-in­come group, the top 5 re­main steady with China, In­dia, and the Rus­sian Fed­er­a­tion at the top, fol­lowed by Brazil and Ar­gentina. Mex­ico and Malaysia are ad­vanc­ing the most in this group.

The re­port also stressed that re­gional in­ter­con­nec­tiv­ity is cru­cial for both the preser­va­tion and ob­struc­tion of eco­nomic and hu­man devel­op­ment. Based on per­for­mance the most pros­per­ous re­gions are North­ern Amer­ica, Europe, South East Asia, East Asia and Ocea­nia fol­lowed by North­ern Africa and West­ern Asia, Latin Amer­ica and the Caribbean. Rank­ing sixth is Cen­tral and South­ern Asia and lastly Sub-Sa­ha­ran Africa.The best sci­ence and tech­nol­ogy clus­ters are in the US, China and Ger­many. While Brazil, In­dia and Iran all made the top one hun­dred list.

Pak­istan re­mains one of the least in­no­va­tive coun­tries in the world. GII re­port 2018, re­veals that Pak­istan ranked 109, while it ranked 113 in 2017, out of 126 coun­tries. Such a low rank­ing is largely due to po­lit­i­cal un­cer­tainty, con­sis­tent cor­rup­tion, which has cre­ated a dis­cour­ag­ing en­vi­ron­ment for busi­ness and has hand­i­capped our in­sti­tu­tions. De­spite some im­prove­ments, Pak­istan re­mains one of the least in­no­va­tive coun­tries in the world. GII re­port 2018, re­veals that Pak­istan ranked 109, while it ranked 113 in 2017, out of 126 coun­tries. Such a low rank­ing is largely due to po­lit­i­cal un­cer­tainty, con­sis­tent cor­rup­tion, which has cre­ated a dis­cour­ag­ing en­vi­ron­ment for busi­ness and has hand­i­capped our in­sti­tu­tions.

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