The INSEAD Business School has issued The Global Innovation Index 2. The Global Innovation Index ranks 125 economies and is computed as an average of the scores across inputs pillars (describing the enabling environment for innovation) and output pillars (measuring actual achievements in innovation). Five pillars constitute the Innovation Input Sub-Index: Institutions, Human capital and research, Infrastructure, Market sophistication and Business sophistication. The Innovation Output Sub-Index is composed of two pillars: Scientific outputs and Creative outputs.
In the East Asia and Pacific region, 7 countries were in the top 30, Singapore (3rd), Hong Kong (SAR, China, 4th), New Zealand (15th), the Republic of Korea (16th), Japan (20th), Australia (21st), and China (29th). Of the major economies the USA was ranked 7th, the UK 10th Germany 12th and Brazil, 47th.
Give the delivery of innovation is usually a project, the Australian project industry has a long way to go to support the development of a modern economy.
For more information see: http://knowledge.insead.edu/contents/documents/GII2011_30June.pdf