The index measures the performance of the 38 economies where the bank invests, alongside the economies of eight frontier innovators, including the USA, Germany and Japan, Emerging Europe writes.
The new data on how individual countries are progressing in their development of the skills, technology and infrastructure needed to deliver innovative economies will provide important guidance to both policymakers and investors.
Estonia, which tops the ranking, performs particularly well in the areas of institutions for innovation and ICT infrastructure. Economies with good formal and informal institutions are more likely to specialise in innovation-intensive industries, while a key pillar of any knowledge economy is information and communications technology infrastructure and its use, as this underpins effective knowledge exchange. Broadband speed and penetration have a positive impact on growth in the form of productivity gains as innovative firms increasingly require faster and more sophisticated ICT infrastructure.
Read the whole survey.
