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Technological innovation and economic growth in Southern Africa: Application of panel dynamic OLS regression

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  • Godfred Anakpo
  • Adeola Oyenubi

Abstract

The effect of technological innovation on economic growth has received significant attention in the developed world over the last decades due to its speedy development and potential impacts. However, little is known in the context of developing countries, arguably due to data challenges. This paper uses panel dynamic Ordinary Least Square regression with annual data from the World Bank and global economy (2004–17) to examine the empirical link between technological innovation and economic growth in Southern Africa. The study finds that technological innovation indicators such as researchers in research and development, graduates from information and communication technology, patents-nonresidents, graduates from science, technology, engineering and mathematics and scientific and technical outputs have significant positive relationship with per capita economic growth in the long run, but no relationship exists for patents-residents and government expenditure with per capita economic growth. Based on the findings, policy intervention and strategies that promote these indicators are recommended.

Suggested Citation

  • Godfred Anakpo & Adeola Oyenubi, 2022. "Technological innovation and economic growth in Southern Africa: Application of panel dynamic OLS regression," Development Southern Africa, Taylor & Francis Journals, vol. 39(4), pages 543-557, July.
    • Handle: RePEc:taf:deveza:v:39:y:2022:i:4:p:543-557
    DOI: 10.1080/0376835X.2022.2052017
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    Cited by:

    1. Xiang, Xiandeng & Cheng, Manli & Wu, Tong, 2023. "Resources extraction, industrial sector, and economic growth: Middle East and North African economies overview," Resources Policy, Elsevier, vol. 86(PA).
    2. Li, Shanshan & Long, Fang & Long, Litao, 2022. "Resources curse and sustainable development revisited: Evaluating the role of remittances for China," Resources Policy, Elsevier, vol. 79(C).
    3. Khan, Yasir & Liu, Fang & Hassan, Taimoor, 2023. "Natural resources and sustainable development: Evaluating the role of remittances and energy resources efficiency," Resources Policy, Elsevier, vol. 80(C).
    4. Ofori, Isaac K. & Gbolonyo, Emmanuel Y. & Ojong, Nathanael, 2024. "Heterogeneous Effects of Frontier Technology Readiness on Economic Growth in Africa," MPRA Paper 121247, University Library of Munich, Germany.
    5. Ofori, Pamela E. & Ofori, Isaac K., 2024. "The Impact of Frontier Technology Adoption on Gender Inequality: Evidence from Africa," EconStor Preprints 298789, ZBW - Leibniz Information Centre for Economics.
    6. Ofori, Pamela E. & Ofori, Isaac K., 2024. "The Impact of Frontier Technology Adoption on Gender Inequality: Evidence from Africa," MPRA Paper 121245, University Library of Munich, Germany.
    7. Ye, Xinyu & Lin, Runtian, 2023. "Financial market risk and innovation nexus with growth: Channelizing the role of natural resources volatility for United States," Resources Policy, Elsevier, vol. 81(C).
    8. Liu, Qiang & Sun, Hongyu & Luo, Haiming, 2022. "Resource-richness, technological innovation, and sustainable development: Evidence from emerging economies," Resources Policy, Elsevier, vol. 79(C).
    9. Ofori, Isaac K. & Gbolonyo, Emmanuel Y. & Vezzulli, Andrea, 2024. "Heterogeneous Effects of Frontier Technology Readiness on Economic Growth in Africa," MPRA Paper 121246, University Library of Munich, Germany.
    10. Huang, Tianwei & Yang, Lei & Liu, Yufei & Liu, Haibing, 2023. "Dutch disease revisited: China's provincial data perspective with the role of green finance and technology peak," Resources Policy, Elsevier, vol. 83(C).
    11. Godfred Anakpo & Zizipho Xhate & Syden Mishi, 2023. "The Policies, Practices, and Challenges of Digital Financial Inclusion for Sustainable Development: The Case of the Developing Economy," FinTech, MDPI, vol. 2(2), pages 1-17, June.
    12. Ofori, Isaac K. & Gbolonyo, Emmanuel Y. & Vezzulli, Andrea, 2024. "Heterogeneous Effects of Frontier Technology Readiness on Economic Growth in Africa," EconStor Preprints 298787, ZBW - Leibniz Information Centre for Economics.
    13. Tan, Qijia & Li, Cuilan & Qin, Zhaohui & Yu, Siming & Pan, Yuchen & Andrianarimanana, Mihasina Harinaivo, 2023. "Impact of fiscal education expenditure on innovation of local listed enterprises: Evidence from China," Finance Research Letters, Elsevier, vol. 57(C).
    14. Jiahao Shen & Runze Liu & Yanling Lin & Ridwan Lanre Ibrahim, 2023. "Technological advancement and regulatory quality," African Development Review, African Development Bank, vol. 35(4), pages 336-350, December.
    15. Liu, Pengqiang & Li, Xin & Chang, Hsu-Ling & Su, Nan, 2024. "Natural resources Kuznets curve: The role of mineral resources, urbanization, and digitalization in BRICS economies," Resources Policy, Elsevier, vol. 90(C).

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