THE EFFECTS OF TECHNOLOGY AND LABOR ON GROWTH IN EMERGING COUNTRIES
THE EFFECTS OF TECHNOLOGY AND LABOR ON GROWTH IN EMERGING COUNTRIES
Author(s): Fanglin LI, Michael Appiah, Regina Naa Amua DODOOSubject(s): Economy, Human Resources in Economy
Published by: Academia de Studii Economice - Centrul de Cercetare in Administratie si Servicii Publice (CCASP)
Keywords: Technology; Labor; Growth; Emerging Countries; Panel ARDL;
Summary/Abstract: This paper evaluates the impact of technological innovation and the labor market on economic growth in Africa based on a sample of six countries from 1995 to 2017. The outcomes by estimating panel ARDL (PMG & MG) on an adopted Cobb Douglass production function. Findings, among others, reveal that (1) technological innovation has a positive relationship and it is statistically significant on economic growth, (2) labor has a positive relationship but not statistically significant (3) the “Cobb Douglass” total production function hypothesis holds. The study recommends that concerted efforts should be towards investing in technological innovations as well as the provision of better conditions of service.
Journal: Management Research and Practice
- Issue Year: 12/2020
- Issue No: 2
- Page Range: 39-47
- Page Count: 13
- Language: English