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The United States has moved up 3 places to 4th in the rankings of the World Economic Forum’s “Networked Readiness Index”.

Covering 127 economies, the index is meant to measure not only networking infrastructure, but all aspects of a country’s use of information and communication technology to benefit its citizens, businesses, and governments. Because of the study’s broad scope and focus on innovation, the report is considered the most authoritative assessment of a country’s ability to innovate and compete in the global market.

Some of the areas reported on in the Index highlight US market strengths. The United States received high marks in the availability of venture capital and scientific research institutions, and research collaboration between industry and universities.

While increases in the US ranking is good news, the United States held the top position for most of the first half of this decade. Some metrics covered by the report consistently bring down the US’s total score, including broadband internet subscribers (17th place), freedom of the press (27th), property rights (30th), and the quality of math and science education (43rd).

To review the scores of all ranked countries, check out the complete
Global Information Technology Report 2007-2008.

(Via CNET News.)