Global Economic Intersection
Advertisement
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
Global Economic Intersection
No Result
View All Result

Global Innovation: U.S. Is Middle of the Pack

admin by admin
July 8, 2012
in Uncategorized
0
0
SHARES
36
VIEWS
Share on FacebookShare on Twitter

Written by Jillian Friesen, GEI Associate and John Lounsbury

innovation-e1341700007359Econintersect: The 2012 Global Innovation Index recently hit the news, announced on 03 July 2012. The report highlighted several topics ranging from the roles certain types of business partnerships play to new Russian policies governing innovation.

An innovation is described in the report as

“the implementation of a new or significantly improved product (good or service), a new process, a new marketing method, or a new organizationsal method in business practices, workplace organization, or external relations.”1

As for the official ratings, the U.S. ranked 10th in global innovation, trailing leaders such as Hong Kong, Ireland and Finland.  Switzerland was at the top.  Surprisingly (perhaps), even with the European euro and policy crisis, seven out of the top ten countries in the index were European.

Background information: INSEAD launched the GII project in 2007 with the main objective of

“determining how to find metrics and approaches to better capture the richness of innovation in society and go beyond such traditional measures of innovations as the number of research articles and the level of R&D expenditures.”2

Interesting facts and bullets:

  • Switzerland preserved its #1 spot from last year
  • Sweden protected its #2 position from last year and is 1st amoung the EU countries
  • Singapore preserved its #3 spot from 2011 and is ranked 1st when ranked according to its innovation capability potential
  • Finland is on top when it comes to political environment rankings
  • The UK advanced in many of its rankings from last year. However it ranked 57th in trade and competition
  • The Netherlands advanced three spots to 6th place, up from 9th a year ago
  • Hong Kong dropped to 8th, four places down from its #4 position in 2011
  • Ireland advanced in its ratings up four places in 2011 to 9th this year
  • The US descended from its #7 perch in 2010 to 10th place in 2011

What Was Measured?

There were two subsets of measurements/evaluations; one was foinnovation inputs and the other group for outputs.  Besides ratings and rankings for for (1) the innovation index, (2) innovation inputs and (3) innovation outputs, a fourth value and ranking was calculated from the ratio of outputs to inputs producing (4) the innovation efficiency index.

The following two graphics show what went into the input evaluations and then the outputs.

innovation-index-inputs

innovation-index-outputs

Editor’s comment: It seems that there could be a lot if subjectivity in some of these evaluations.

 

A Closer Look at Some of the Results

Econintersect has chosen to look at the relationship between innovation efficiency and innivation index.  WIPO provided the following graph in their report, which as been annotated by Econintersect:

Click on graphic for larger image.innovation-index-score-vs-efficiency-correlation-ANNOTATED-580px

The annotations show:

1.  The nearest neighbors to the U.S. on the graph (in red).

2.  The other countries, besides some nearest neighbors and Switzerland, that exceeded the U.S. index value for innovation (in black).

3.  The five countries that equaled or exceeded 1.0 on the innovation efficiency index (in green).

Finally, some general observations:

The report does not provide correlation data for the regression line with the graph, but Econintersect estimates that the correlation coefficient is likely to be in the weak to fair range ( R = 0.4 to 0.8).  This is an “experienced eyeball” estimate and is not absolutely reliable.

Editorial note: After decades of working with thousands, if not tens of thousands, of graphs of data sets and regression lines, our editorial opinion is that the correlation to the data points to the regression line is quite acceptable considering the uncounted variables that can influence each data point in many different ways.

Another eyeball estimate is that the correlation for each of the four data subsets, had those four regression lines been determined, would each be better than for the overall regression fit shown.

A final item which gives confidence in the quality of the data determined here is the good correlation (again estimated by “experienced eyeball”) for a graph of input index values plotted against output index values (graph not shown here).   This is estimated to show significantly higher correlation than the effeiciency vs. index graph we have displayed and discussed.

Deep in the 464 page report is a chapter on statistical analysis of the data.  That was skimmed by Econintersect but not critically analyzed.

 

Click here for the full report from the WIPO website

 

Citations:

1. Global Innovation Index, Chapter 1, pg. 5

2. Global Innovation Index, Chapter 1, pg. 4

 

Sources:

  • IPWatchdog
  • WIPO
  • INSEAD
Previous Post

Trefis Highlights Week Ending 06 July 2012

Next Post

ECB Policy for a Liquidity Trap: Firing Bullets in the Dark?

Related Posts

Iran Makes $10M Import Using Crypto, Plans ‘Massive’ Use By End Of September
Business

Iran Makes $10M Import Using Crypto, Plans ‘Massive’ Use By End Of September

by John Wanguba
August 12, 2022
Oil Rises On New Gasoline Demand, Weak Dollar
Business

Oil Rises On New Gasoline Demand, Weak Dollar

by John Wanguba
August 12, 2022
Musk Seeks To Interrogate Twitter Staff Who Calculate Bots
Business

Musk Seeks To Interrogate Twitter Staff Who Calculate Bots

by John Wanguba
August 12, 2022
U.S. Consumer Price Index (CPI) Expected To Ease Pushed By Falling Gasoline Prices
Economics

U.S. Consumer Price Index (CPI) Expected To Ease Pushed By Falling Gasoline Prices

by John Wanguba
August 10, 2022
Crypto Lending Platform Hodlnaut Suspends Services Citing Liquidity Crisis
Business

Crypto Lending Platform Hodlnaut Suspends Services Citing Liquidity Crisis

by John Wanguba
August 10, 2022
Next Post

ECB Policy for a Liquidity Trap: Firing Bullets in the Dark?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins banking banks Binance Bitcoin Bitcoin adoption Bitcoin market Bitcoin mining blockchain BTC business China Coinbase crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum finance funding inflation investment market analysis markets Metaverse mining NFT NFTs nonfungible tokens nonfungible tokens (NFTs) price analysis regulation Russia social media technology Tesla the US Twitter

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • August 2010
  • August 2009

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized
Global Economic Intersection

After nearly 11 years of 24/7/365 operation, Global Economic Intersection co-founders Steven Hansen and John Lounsbury are retiring. The new owner, a global media company in London, is in the process of completing the set-up of Global Economic Intersection files in their system and publishing platform. The official website ownership transfer took place on 24 August.

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Recent Posts

  • Iran Makes $10M Import Using Crypto, Plans ‘Massive’ Use By End Of September
  • Oil Rises On New Gasoline Demand, Weak Dollar
  • Musk Seeks To Interrogate Twitter Staff Who Calculate Bots

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

No Result
View All Result
  • Home
  • Contact Us
  • Bitcoin Robot
    • Bitcoin Profit
    • Bitcoin Code
    • Quantum AI
    • eKrona Cryptocurrency
    • Bitcoin Up
    • Bitcoin Prime
    • Yuan Pay Group
    • Immediate Profit
    • BitIQ
    • Bitcoin Loophole
    • Crypto Boom
    • Bitcoin Era
    • Bitcoin Treasure
    • Bitcoin Lucro
    • Bitcoin System
    • Oil Profit
    • The News Spy
    • British Bitcoin Profit
    • Bitcoin Trader
  • Bitcoin Reddit

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

en English
ar Arabicbg Bulgarianda Danishnl Dutchen Englishfi Finnishfr Frenchde Germanel Greekit Italianja Japaneselv Latvianno Norwegianpl Polishpt Portuguesero Romanianes Spanishsv Swedish