KUALA LUMPUR, Jan 27 — Malaysia was ranked 39th in how its domestic policies supported worldwide innovation, according to an analysis released by the Information Technology and Innovation Foundation (ITIF), a global technology policy think-tank.
In a statement today, ITIF said, the findings came in a new report assessing 56 countries, which together comprised close to 90 per cent of the world’s economy on the extent to which, on a per capita basis, their economic and trade policies contributed to and detracted from innovations globally.
“Robust innovations are essential for economic growth and progress,” said Vice President for Global Innovation, Stephen Ezell.
He said as countries increasingly vied for leadership in the innovation economy, they could implement policies that tried to benefit only themselves but harm the production of innovation in the rest of the world.
“Or they can implement ‘win-win’ policies that bolster their own innovation capacity while also generating positive spillovers for the entire global economy,” he said.
ITIF said while previous research has ranked countries based on innovation capabilities or outcomes, this report was the first to assess the impact of countries’ policies on the broader innovation system.
“The authors examined 14 factors that not only support innovations domestically but have positive spillover effects globally, such as supportive tax systems and investment in research and development and human capital.
“Malaysia’s 39th-place overall ranking reflected a combination of policies that the report found to be 32nd best in their positive contributions to the global innovation ecosystem and also the eighth most damaging,” it said. — Bernama
