Countries chasing economic innovation: UN

A revival of concern policies is nether mode astir the world, the United Nations said Thursday, with countries going for technological innovation to diversify their economies.

The UN’s World Intellectual Property Organization said greater productivity levels could beryllium reached done specialising successful existing strengths.

“In economies of each sizes, we are seeing a resurgence successful concern policymaking,” said WIPO main Daren Tang.

“This includes successful galore processing and slightest developed countries, who are progressively targeting economical diversification — and the innovation, creativity and exertion required to execute it — arsenic a means of securing proviso chains, addressing nationalist and planetary challenges and driving sustainable growth.

“More and much economies spot their aboriginal successful innovation, creativity, exertion and entrepreneurship,” helium added.

The UN bureau connected Thursday released its World Intellectual Property Report, which is aimed astatine helping policymakers marque amended decisions by strengthening nationalist innovation systems.

Published each 2 years, the study sheds airy connected the relation of innovation successful marketplace economies, looking astatine circumstantial trends successful intelligence property.

It said the past fewer years had seen a revival of concern policies, successful effect to challenges specified arsenic clime alteration and the Covid-19 pandemic.

– Transforming the operation –
The study said the apical economies for scientific, technological and accumulation capabilities were each high-income countries, specified arsenic the United States, France, Germany, Japan and South Korea, and/or ample economies specified arsenic China and India.

It said that by specialising successful their existing strengths, countries and regions could execute higher levels of productivity and innovation.

“In short, economies turn by transforming their accumulation operation from 1 dominated by low-tech, ubiquitous activities to 1 with uncommon outputs that are much reliant connected skilled quality capital,” the study said.

Analysis of astir 40 cardinal patent filings, implicit 70 cardinal technological papers and economical enactment worthy much than $300 trillion successful goods and services exports showed that innovative outcomes are highly concentrated, said WIPO.

“Over the past 20 years, for example, the apical 8 countries relationship for 50 percent of exports, 60 percent of technological publications and 80 percent of planetary patenting,” it said.

However, alteration is nether way, WIPO added, saying China, India and South Korea saw large increases successful their technological diversification implicit the past 2 decades.

China jumped from being specialised successful lone 16 percent to 94 percent of each technological capabilities; South Korea’s technological capabilities went from 40 percent to 83 percent, and India saw its technological capabilities treble from 9 percent to 21 percent.