The Role Of Technology In Economic Development – An Analysis of the Integrated Carbon Impact Factors on China’s Export Trade in the Origins of “Carbon Peak” and “Carbon Neutrality”

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The Role Of Technology In Economic Development

The Role Of Technology In Economic Development

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Pdf) Impact Of Technological Innovations On Economic Growth Of Nations

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Cted Conference Focuses On Role Of Technology In Economic Development

Department of Political Science and Public Administration, Faculty of Economics and Administrative Sciences, European University of Lefke, Lefke, Northern Cyprus, Mersin 10, Turkey

Department of Banking and Finance, Faculty of Economics and Administrative Sciences, European University of Lefke, Lefke, Northern Cyprus, Mersin 10, Turkey

Received: 2 December 2021 / Revised: 27 February 2022 / Accepted: 7 March 2022 / Published: 11 March 2022

The Role Of Technology In Economic Development

The purpose of this article is to examine the innovation effect of access to modern technology by controlling education, public funds and life expectancy in high-income countries from 2008 to 2018. Normal squares and dynamic normal quadratic tests were used. The results of the research show that: (i) there is an interactive relationship between access to the latest technology and innovation, education, public investment and life expectancy; (ii) innovation increases access to modern technology in high-income economies, while education, public funds and life expectancy contribute to access to sustainable technology; (iii) innovation, education, public investment and life expectancy lead to access to modern technology. The results are important in showing why policy makers in advanced economies should foster innovation capacity to sustain technological progress.

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Sustainability is defined as finding ways to efficiently use the scarce resources in our world and adapting to our lives. It is seen that innovation, which is the most important thing that is able to stand out in the world competition, has an important role in the path of sustainability. For this reason, innovation is defined as innovation that provides economic success and has recently been described by the term sustainability.

Sustainability consists of goals set at an environmental, social and economic level at the global level [1]. The United Nations [2] asks member countries to achieve the 17 sustainable development goals (EHR) that it has determined to create balance in these areas until 2030 [3]. The process of digital transformation, which has been acquired by the crisis of COVID-19 and continues to affect every aspect of our lives, is important in demonstrating the importance of the digital dimension of sustainability. During this period, the transition to working from home in many workplaces, the transition to distance learning in schools and the transfer of even grocery shopping to the Internet have shown great digital activity.

Currently digital sustainability refers to how digital can be used by countries in accordance with the goals of sustainable development [4]. In fact, it is the idea of ​​how digital information can be used to achieve sustainable development goals (environmental, social and economic). In addition, sustainable technology is an umbrella that defines innovation that respects natural resources and fosters economic and social development. The goal of this technology is to significantly reduce environmental and environmental risks as well as to create sustainable products. It has been observed that the first definition of innovation in the literature was made by the economist Schumpeter [5]. Schumpeter [5] describes innovation as the introduction of a new product or a new feature of a new product, the introduction of a new production method, the introduction of new markets, and the discovery of new products. Trott [6], on the other hand, defines innovation as the development of technology, production and production of new (advanced) products or processes.

Based on these definitions, it can be seen that sustainable innovation is a concept far from the classical concept of innovation that considers social and environmental impacts. In order for a technological innovation that makes our lives easier to be considered a good and sustainable innovation, it must not only provide economic and important benefits, but also contribute to the world. The concept of sustainable innovation was first developed by Elkington [7] as 3P (People, Planet, Profit). The formula clearly emphasizes social, environmental and economic aspects.

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Sustainable innovation is seen in many different examples that make our lives easier, protect the environment and serve society. Today, the rapidly developing technology also greatly contributes to the studies conducted in this field. New business ideas that focus on supporting renewable energy sources, using recycled products, saving materials and energy (light guide software that uses traffic data and reduces the time spent in traffic, stores that enable easy collection of waste (recyclable, anti-allergenic carpets made from recycled materials etc.) are increasing day by day in the world.

Other important factors include absolute innovation and imitative innovation. In the statistical studies conducted by the Statistics Center, the concept of innovation is defined as new products and processes at the international level (absolute innovation) and new products and processes at the national level (imitation innovation). Imitation innovation is not only new in a particular business, but aspects of performance that have already been implemented in other businesses and in other countries are products and processes [8]. Imitation today does not mean directly imitating or trying to imitate the exact product and brand. Instead, it takes the success points of successful products and brands and reviews and improves them according to their market conditions. The point that should not be forgotten here is that innovation and imitation can give companies a significant competitive advantage, as Microsoft, Apple, Samsung and hundreds of other companies do. In fact, Samsung is a good example of Apple products and has very successful products.

Innovation results in society getting more out of its existing resources, because society’s resources are transformed into new goods and services through innovation. creativity, and then it will be marketed. Product innovation is expected to have a positive effect on labor productivity, given other inputs [9]. Therefore, it is necessary not only to think about economic innovation, but also as a social system in which technology is used creatively for the benefit of people, increasing employment and contributing to the protection of the environment [ 10]. Countries still face major challenges in taking steps to reduce environmental pollution and implementing policies that can make the quality of the environment sustainable while providing economic growth and development. In this matter, it is necessary to ensure that the level of awareness of the citizen increases and is informed, as well as governments and policy makers limit the use of carbon production, while green energy sources (Renewable Energy, Sustainable Agriculture, Recycling). etc) should be specially encouraged. Omri [11] states that technological innovation encourages investors in high-income countries to use new technologies to improve the environment and support environmentally friendly production. However, Cheng et al. [12] suggested in their study that technological innovation, financial decentralization, GDP, and globalization are influential factors in explaining CO.

The Role Of Technology In Economic Development

Innovation policies are the most important element that contains all the public activities of public institutions in countries to shape the innovation process [13]. It is seen that companies supported by public incentives produce more technological products and businesses than other companies due to their higher R&D expenditures. In addition, there are studies in the literature that show that R&D tax incentives increase the innovation output of companies [14].

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The studies of Schumpeter [5] and Solow [15] are the basis of the relationship between technology and innovation. In particular, Schumpeter is considered to be the first researcher to discuss economic development and the impact of technological innovation on him. Technological innovation involves the discovery of new technology and the introduction of a new product, function, or service to the market as a result.

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