Sustainable economic development across globe: The dynamics between technology, digital trade and economic performance. (February 2023)

• Record Type: Journal Article
• Authors: Danish, ; Khan, Salahuddin; Haneklaus, Nils
• Is Part Of: Technology in society. Volume 72(2023)
• Publication Date: 2023-02
• Subjects: Technology -- Digital trade -- Education -- COVID-19 -- Bias-corrected method of moments estimators; Technology -- Social aspects -- Periodicals; 303.483
• DOI: 10.1016/j.techsoc.2023.102207
• Languages: English
• ISSNs: 0160-791X

Abstract

Abstract: Technology makes a significant contribution to economic performance globally. Information and communication technologies and the economic growth nexus are widely debated; however, this study examined the economic performance of 93 countries categorized as developed and developing countries between 2005 and 2019. The study employs Breitung et al.'s [1] novel bias-corrected method of moments estimators for dynamic panel data models. To serve the purpose, the study utilizes the novel Bias-corrected method of moments estimators for dynamic panel data models by Breitung et al. [1]. The results were threefold: first, technology has both direct and indirect impacts on economic performance. Education plays a moderating role in further escalating economic performance through technology across the globe. Second, digital trade does contribute to economic growth as well. Third, there is a heterogeneous effect of COVID-19 on economic performance across various income groups of countries. The innovative results of the study suggest important policy recommendations. Highlights: Analyses dynamics between technology, digital trade, and economic performance across globe. The moderating effect of education is introduced between technology and economic performance. Technology has both direct and indirect impacts on economic performance. Education plays a moderating role in further escalating economic performance.