Although the first half of 2013 has seen a pronounced economic uptick, the global recovery is not as strong as anticipated last year. Economic growth in emerging markets and high-income economies is uneven: growth prospects for many low- and middle-income economies continue to be good, but many high-income economies continue to struggle towards recovery.
Economic policy action is still focused on finding the right balance between reducing debt and supporting demand through stimulus spending. But questions remain: Where will future growth come from to drive the global economy? Where will future jobs come from? In this context, the importance of innovation cannot be emphasized enough. It is the policies fostering long-term output growth - especially policies that promote innovation - that can lay the foundation for future growth, improved productivity, and better jobs.
To guide polices and to help overcome divides, metrics are needed to assess innovation and policy performance. For this purpose, The Global Innovation Index 2013: The Local Dynamics of Innovation is timely and relevant. The Global Innovation Index (GII) helps to create an environment in which innovation factors are continually evaluated. It provides a key tool and a rich database of detailed metrics for 142 economies, which represent 94.9% of the world’s population and 98.7% of global GDP.