Taiwan 3rd on ADB Creative Productivity Index

2014-09-16

Taiwan ranked third among 22 major economies in the Asia-Pacific region on the Asian Development Bank's Creative Productivity Index released Sept. 13.

The index measures how efficient economies are at turning creative inputs into innovation outputs, with Taiwan’s ranking demonstrating that the nation is punching above its weight in the global knowledge-based economy.

According to ADB, the index uses 36 input indicators to measure the capacity and incentives for innovation, such as the number of universities in the global top 500, degree of urbanization, R&D spending and intellectual property rights protection. The eight output indicators include the number of patents filed, added value in agriculture and number of books and firms produced.

In terms of creative inputs, Taiwan ranks third in the knowledge-skill base category, while belonging to the “high” group in creative destruction and appropriate institutions. The nation’s innovation output also ranks in the same group.

“The economy is characterized by an outstanding level of human capital, as well as high scores on the remaining input dimensions,” the ADB said. “In terms of output, Taiwan performs exceptionally on scientific output and agricultural productivity.”

The report added that Taiwan topped the ranking for student enrollment in technical and vocational programs. The workforce is highly educated, with further study highly valued by local employers.

Taiwan’s infrastructure also rated highly and was "likely to improve further with planned expansions of some of its busiest harbors and airports.”

The ADB further highlighted a December 2013 plan by the Financial Supervisory Commission to double funding for the creative sector to NT$360 billion (US$12 billion) within three years as giving a boost to the film, music and TV industries.

In addition to the 22 Asia-Pacific economies, Finland and the U.S. were included for comparison purposes, ranking second and fourth overall. Japan ranked first, while South Korea was second in the region and third overall.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=221619&CtNode=413)