As the global economic recovery gathers pace and becomes more broad-based, policy-makers are focusing on the search for sources of future growth and employment. But despite growing optimism about the global economic outlook, governments continue to face a basic dilemma: limited scope for fiscal stimulus and public investment but a strong need for investment and future-oriented pro-growth policies to sustain growth and employment.
In this context innovation and entrepreneurship are becoming ever-more important. But what needs to be done to stimulate these key drivers of economic growth? How can policymakers track global innovation trends, assess progress and identify priorities? The Global Innovation Index (GII), now in its 7th year, offers decision-makers a practical “tool for action”. It provides a rich series of metrics that benchmark the innovation capabilities and performance of 143 countries. As firms and governments show growing interest in identifying and energizing creative individuals and teams to harness future growth, this year’s GII explores the critical role of the human factor in innovation.
You can read the article in its entirety here:http://www.wipo.int/wipo_magazine/en/2014/04/article_0001.html.
Catherine Jewell, Economics and Statistics Division, WIPO