Bloomberg: U.S. and Canada Make Strides in Bloomberg 2019 Innovation Index
Bloomberg
By Alexandre Tanzi
January 28, 2019
The U.S. moved back into the world’s top 10 in Bloomberg’s most-innovative economy ranking this year -- 12 slots ahead of its closest regional competitor -- Canada. Only six nations in the Western Hemisphere are ranked among the 60 countries.
The U.S. rose three spots to eighth overall, reflecting the strength of its patent activity and high-tech density, where it was ranked as best in the world for both. The U.S. also obtained a top 10 ranking in research and development intensity and in productivity. Deficiencies in education, ranked 43rd, and as a byproduct researcher concentration, ranked 28th, hurt the U.S. in its overall ranking. Five years ago, the U.S. ranked third in the global index.
Tertiary enrollment and graduation rates in the U.S. are strong, but the U.S. suffers in that students are not obtaining science and engineering degrees in sufficient numbers. Only 14 percent of graduates are obtaining science and engineering degrees -- the lowest among G7 countries. To look at this another way, over the last decade, China almost doubled the number of professionals, including postgraduate PhD students, engaged in research and development by 2.1 million to 3.9 million overall -- a 10-year increase that is almost 10 times that of the U.S.