Technological Know-How, Entrepreneurship And Sustainable Economic Development In Emerging Economies

Abstract

The role of information and communication technology (ICT) in improving all human endeavours is enormous. This study investigates the effect of technology-know-how on entrepreneurship growth in emerging economies of the world. Data were sourced from World Development Indicator for the selected economies of Nigeria, Brazil and Malaysia for 25 years ranging from 1989 to 20132012. Variables such as Information, communication and technology service exports as % of service exports (ICT) and High-technology exports as percentage of manufactured exports (HI-TECH) serve as independent variables and entrepreneurship growth (EG) as dependent variable were incorporated into the model. The data were analyzed using multiple regression analysis of Ordinary Least Square (OLS) and cointegration technique. The OLS result revealed that technological-know-how has significant positive effect on entrepreneurship growth in Nigeria and Brazil but negative insignificant effect in Malaysia. There is a long run relationship between Entrepreneurial Growth and Technology Knowhow in Emerging Economies. The study concludes that Hi-tech can help revolutionize the way people in emerging economies conduct their daily lives and business activities.