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Innovation race

Innovation race published : 5 Apr 2021 at 04:30 SCG is innovating in the field of green construction by using drones to help survey construction sites for better project design. Photo © SCG Asia s middle-income countries have undergone significant economic transformation and enjoyed dramatic growth in the past decade. Yet, many still lack the ability to create innovation essential for driving productivity, economic development and sustainability, all of which are critical for their future prosperity. Several factors have hindered innovation in the region, and the challenge has been magnified by the impact of the prolonged Covid-19 outbreak, according to a new World Bank report titled The Innovation Imperative for Developing East Asia .

The Innovation Imperative: Why Canada needs to think local to break out of its low-innovation equilibrium

The Innovation Imperative: Why Canada needs to think local to break out of its low-innovation equilibrium
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World Bank Group (via Public) / Greater Innovation Critical to Driving Sustained Economic Recovery in East Asia

Greater Innovation Critical to Driving Sustained Economic Recovery in East Asia WASHINGTON, February 23, 2021 -, according to a new World Bank report launched today. Countries in developing East Asia have an impressive record of sustained growth and poverty reduction. But slowing productivity growth, uncertainties in global trade, and technological advances are increasing the need to transition to new and better modes of production to sustain economic performance. To support policy makers in meeting this challenge, The Innovation Imperative for Developing East Asia examines the state of innovation in the region, analyzes the key constraints firms face in innovating, and lays out an agenda for action to spur innovation-led growth.

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