Australia ranks on innovation but indolence could cost us
Professor Roy Green is Dean of the UTS Business School. He writes that innovation is critical to driving productivity and promoting new sources of growth, such as knowledge-based manufacturing and related services which still comprise almost 70% of world trade. Australia ranks 17th in the just released 2014 Global Innovation Index (GII) up from 19th in 2013 and 23rd in 2012. We do particularly well in the following innovation inputs:
- human capital and research e.g. tertiary enrollments and education
- market sophistication e.g. regulatory quality and ease of starting a business
- infrastructure e.g. the deployment of information and communications technologies
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