Open Access
Article
SciPap-1663
Impacts of Technology on Economic Growth: With Difference Between Tourism Countries and Industry Countries Aspect
1 International Trade and Finance, Istanbul Gelisim University, Cihangir Dist. Petrol Office Str. No:3-5 Gelisim Tower Avcilar/Istanbul, TURKEY, Istanbul 34310, Turkey
2 International Trade and Finance, Istanbul Gelisim University, Cihangir Dist. Petrol Office Str. No:3-5 Gelisim Tower Avcilar/Istanbul, TURKEY, Istanbul 34310, Turkey
3 Management Information Systems, Istanbul Gelisim University, Cihangir Dist. Petrol Office Str. No:3-5 Gelisim Tower Avcilar/Istanbul, TURKEY, Istanbul 34310, Turkey
* Authors to whom correspondence should be addressed.
Abstract: The effects of technology on economic growth and development have been an area that many economists have focused on, especially since the post-World War II period. This study aims to analyze the differing technological impact between countries with a high share of tourism in their gross domestic product and countries with a high share of the industry. Another aim of the study is to determine the direction of the net effect of technology for the determined country groups. In such a way that, by increasing productivity, technology is the most important factor in solving the world’s scarce resources problem. However, it also causes both social and economic problems in terms of creating negative externalities such as environmental pollution and global warming. To set the impact differences and clarify the net effect of technology, two different country groups have been defined consisting of 30 tourism countries and 30 industrialized countries. The same growth model was imposed in which capital, labor, tourism income, trade openness and middle and high-technology export level as independent variables for both groups. GMM-Generelazied Moment of Moment estimator was applied and it is surprisingly concluded that technology has a negative impact on both country groups’ economic growth.
Keywords: Economic Growth, Tourism, Technology, Industry
JEL classification: F10 - General, O11 - Macroeconomic Analyses of Economic Development, O14 - Industrialization • Manufacturing and Service Industries • Choice of Technology
Received: 24 March 2023 / Revised: 5 May 2023 / Accepted: 9 May 2023 / Published: 11 May 2023
