ADB: Taiwan’s Creative Productivity Finishes 5th in Asia-Pacific Region

According to the new Creative Productivity Index (CPI) developed by the Economist Intelligence Unit and released by the Asian Development Bank (ADB), Taiwan ranks fifth among the 24 economies in the Asia-Pacific region and Japan tops the CPI ranking. 

This index uses 36 indicators to measure the economies on how efficient they are to turn creative inputs into innovation outputs.  These indicators include the number of universities listed in the global top 500, degree of urbanization, R&D spending, and intellectual property rights protection, etc..  There are also eight output indicators, such as, the number of patent applications filed and added value in agriculture, etc..  The index assessed 22 major economies in Asia and also included Finland and the US for comparison purposes.  According to the ADB, the index provides policy maker with a tool to assess how to foster creativity and innovation in Asian economy.

Taiwan has high score for human capital and performs exceptionally on scientific output and agricultural productivity.  However, it has lower percentage of foreign investment and its output of traditional creative-industry needs improvement, the report said. 

Top 4 of the CPI ranking are Japan, Finland, South Korea, and the US, followed by Taiwan in the fifth place.  Other nations that round out the top 10 Asia-Pacific economies are New Zealand, Hong Kong, Australia, Laos, and Singapore, and China comes in the 11th in the ranking. (September 2014)
/CCS