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Technology-driven growth and inclusive growth- implications for sustainable development in Africa

Oluwabunmi O. Adejumo, Akintoye V. Adejumo and Temitope A. Aladesanmi

Technology in Society, 2020, vol. 63, issue C

Abstract: The 21st century industrial and digital age has been largely driven by technological dynamics and advancement. The Neo-classical argued that beyond the classical notion of investments and capital accumulation, technology growth, which is driven by innovation and development is a major driver for growth and development. Africa economies, which has been largely described as technologically dependent, has over the years through technological diffusion engaged modern processes in driving its economic activities, which has informed economic and even social outcomes. Therefore, using the generalised methods of moments for selected sub-Saharan African economies, this study intends to assess the extent to which the presence of technology has informed economic activities in Africa as well as its impact in addressing developmental issues of poverty and unemployment. Also, given the current drive towards sustainability, this study takes the neo-classical growth theory a step higher by examining the modulating effects of technology-driven growth (through mobile densities and ICTs) in setting the pace for sustainable development in Africa. The study shows that the expected long-run impact of a technology-induced growth in reshaping developmental outcomes is seen from the estimates.

Keywords: Technology; Growth; Sustainability; Inclusion; Development (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1016/j.techsoc.2020.101373

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