Creative Productivity Index: Analysing Creativity and Innovation in Asia
This report presents the results and analysis of the Creative Productivity Index (CPI) for a select number of Asian economies.
This report presents the results and analysis of the Creative Productivity Index (CPI) for a select number of Asian economies. The CPI was built by The Economist Intelligence Unit. The Asian Development Bank (ADB) commissioned the work on developing the CPI as part of an overall study on Asia’s knowledge economies.
The report provides a benchmarking of a number of economies in Asia on creative productivity, an important attribute for strengthening knowledge-based economic development. This index gives policy makers a unique tool to assess how to foster creativity and innovation in Asia. Innovation-led growth is crucial for developing Asia to maintain and accelerate the pace of growth of its economies.
Following are the key findings of the CPI:
- Japan leads the CPI, followed by Finland and the Republic of Korea;
- Cambodia and Pakistan, with much room for improvement, are ranked lowest in the CPI;
- Singapore leads the CPI for innovation inputs;
- Finland and Hong Kong, China are best in the CPI for innovation outputs;
- Low- and middle-income economies will benefit most from policies to increase creative inputs; and
- There are many different dimensions of creativity that are captured in this report.
Many Asian developing economies face a challenge to avoid being stuck in the middle-income trap. They need to transition from an imitation-driven economy to an innovation-based growth model more commonly found in developed countries. Richer economies are clearly able to invest more in physical infrastructure such as transport networks, communications, and power generation, which are key underlying factors in economic creativity and innovation. However, some differences are a result of the enabling environment that facilitates the generation of creative outputs from creative inputs.
A poorer country may not be able to muster the same level of creative inputs as a richer country, but can still benefit by using what resources it does have efficiently. While the precise policy recommendations will differ for each economy, the results of this report highlight a number of important policy areas where an increased emphasis would be beneficial for many Asian economies.
- Executive Summary
- Introduction to the Creative Productivity Index
- The Production of Innovation: Methodology and Indicators
- Index Results and Economy Summaries