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Sustainable Technology in High-Income Economies: The Role of Innovation

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  • Koray Uğurluay

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

  • Dervis Kirikkaleli

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

Abstract

The aim of this article is to examine the effects of innovation on the availability of cutting-edge technologies while controlling education, public funds and life expectancy in high-income countries from 2008 to 2018. In this study, Westerlund cointegration, fully modified ordinary least squares and dynamic ordinary least squares tests were applied. The research results indicate that: (i) there is a cointegrating link between the availability of the latest technologies and innovation, education, public funding and life expectancy; (ii) innovation increases the availability of cutting-edge technologies in high-income economies, whereas education, public funds and life expectancy contribute to sustainable technological availability; (iii) innovation, education, public funding and life expectancy result in the availability of cutting-edge technologies. The results are important in showing why policymakers in high-income economies should foster innovation capacity to sustain technological development.

Suggested Citation

  • Koray Uğurluay & Dervis Kirikkaleli, 2022. "Sustainable Technology in High-Income Economies: The Role of Innovation," Sustainability, MDPI, vol. 14(6), pages 1-16, March.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:6:p:3320-:d:769433
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