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The impact of technological progress and digitization on Ghana’s economy

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  • Alex Boakye
  • Nnenna Nwabufo
  • Mulugeta Dinbabo

Abstract

This study analyzed the impact of technological progress and digitization on Ghana’s economy using panel data for the period 2009–2019. Technological progress and economic growth inter-dependency was analyzed in two steps. First, the relation was tested using Augmented Dickey–Fuller method. Second, we estimated the long-run relation between the variables by using Engel Granger and Error Correction models. The results indicate that adopting technology or digitizing the economy has the potential to drive sustainable growth and development. In particular, it was noted that ICT investments drive high productivity rates and faster economic growth. In sum, technological progress and digitization have the potential to foster significant growth and therefore must be given high credence in the planning and designing of development programmes. This paper contributes to development theories on the role that ICT plays in economic growth and development.

Suggested Citation

  • Alex Boakye & Nnenna Nwabufo & Mulugeta Dinbabo, 2022. "The impact of technological progress and digitization on Ghana’s economy," African Journal of Science, Technology, Innovation and Development, Taylor & Francis Journals, vol. 14(7), pages 1981-1986, November.
    • Handle: RePEc:taf:rajsxx:v:14:y:2022:i:7:p:1981-1986
    DOI: 10.1080/20421338.2021.1994239
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    Cited by:

    1. Alex Boakye, 2023. "Estimating agriculture technologies’ impact on maize yield in rural South Africa," SN Business & Economics, Springer, vol. 3(8), pages 1-17, August.

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