That are exceptions but there is a noticeable trendline. The freedom of business index ranks Scandinavian countries pretty high. Norway, Sweden, and Finland tend to rank highest among Singapore and South Korea. Ireland tops it because it's a giant tax shelter but there's not much notable innovation there. Meanwhile UK, France, Italy, Spain are ranking poorly. The US has been declining there slowly, which is much more obvious when you factor in local/state/housing etc, federally it's long been more permissive but fiscally irresponsible.

My personal indicator is how many young (<50) entrepreneurs are building real stuff vs announcements of ex-bigco executives partnering with the government to jump on a new bandwagon.