South Korea tops the charts in research and development

In the battle of ideas, Sweden climbed to second place, Finland cracked into the top five, but South Korea dominated the 2017 Bloomberg Innovation Index, which scores economies using factors including research and development spending and the concentration of high-tech public companies, write Michelle Jamrisko and Wei Lu for Bloomberg.

South Korea topped the international charts in R&D intensity, value-added manufacturing and patent activity and with top-five rankings in high-tech density, higher education and researcher concentration. Scant progress in improving its productivity score – now number 32 in the world – helps explain why South Korea’s lead narrowed in the past year.

Silver medal winner Sweden owes most of its rise to improvement in the manufacturing value-added metric, while Nordic neighbour Finland jumped two spots in large part because of the rise of high-tech firms in the country. Norway held its number 14 spot from last year.
Full report on the Bloomberg site