R&D increasing faster in emerging countries

Emerging economies like India, China and Brazil have increased their R&D faster than developed countries according to the Global Innovation Index (GII) 2013. The countries, however, have not been able to break into the top positions in global innovation.

The GII 2013 observed 142 economies around the world, using 84 indicators like the quality of top universities, availability of microfinance or venture capital deals. Whilst the top spots were still shared amongst countries like Switzerland, Sweden, the UK, the Netherlands and the U.S. emerging economies made headway. According to the report over the last five years, China, Argentina, Brazil, Poland, India, Russia, Turkey, South Africa, Costa Rica and Senegal have made astonishing progress. Latin America is the region that has seen the most significant improvement, with Costa Rica in the regional lead. Emerging markets, and in particular China, are also largely driving the growth in patent filings worldwide.

Sources: Economic Times; Global Innovation Index