Technology-based ventures and sustainable development: Cointegrating and causal relationships with a panel data approach

Islem Khefacha and Lotfi Belkacem

The Journal of International Trade & Economic Development, 2016, vol. 25, issue 2, 192-212

Abstract: The aim of this article is to provide new empirical evidence on the causality between proxy variables of technology entrepreneurship and proxy variable of sustainable economic performance in a vector error correction model. It covers a sample of 13 countries participated to Global Entrepreneurship Monitor studies under the period 2002--2013. Building on a theoretical background that considers the adoption of new technologies through a dynamic process of creative destruction based on innovation as the most important factor for achieving long-term economic growth, the empirical investigation uses robust econometric techniques that are capable of estimating long-run cointegrating relationships in panel data.Our results support the idea that total entrepreneurship activity related to the technology sector leads to improve the sustainability of a nation in the long run. More importantly, our paper helps understand the nature of liaison between the creation of innovative and high-technology business and the presence of favorable social and environmental conditions for the well-being of a population.

Date: 2016
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DOI: 10.1080/09638199.2015.1048707

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