The Dynamic Relationship Between Technology Innovation and Human Development in Technologically Advanced Countries: Fres
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The Dynamic Relationship Between Technology Innovation and Human Development in Technologically Advanced Countries: Fresh Insights from Quantiles‑on‑Quantile Approach Muhammad Asif Qureshi1 · Jawaid Ahmed Qureshi2 · Ammar Ahmed3 · Shahzad Qaiser4 · Ramsha Ali5 · Arshian Sharif6 Accepted: 20 July 2020 © Springer Nature B.V. 2020
Abstract Our study investigates the relationship between technology innovation and human development in technologically advanced countries using data from quarterly observations from the last decade of the twentieth century to the first two decades of the twenty-first century. This objective of this study is to implement Quantile-on-Quantile regression (QQ) technique that as formulated by Sim and Zhou (J Bank Finance 55:1–8, 2015) and the renowned Granger-causality in quantiles as proposed by Troster (Econom Rev 37(8):850– 866, 2018) examine the basic relationship between the given quantiles of technology innovation and their effects on the quantiles of human development. Therefore, the outcomes of this study explain the overall interdependence of technology innovation and affect the overall human development index. It is enumerated that the empirical results indicate that a significant positive relationship exists between technology innovation and human development in all selected technologically advanced countries, predominantly in both low and high tails. Moreover, the outcomes of Granger causality quantiles indicate a bi-directional fundamental relationship between these two variables in the dataset of all countries. The outcomes of the observations are extended to the recent findings on these two variables’ nexus and imply a differential impact on the technologically advanced countries. This causality guides us to offer some specific policy recommendations to each group of countries. Keywords Quantile-on-Quantile (QQ) approach · Technology innovation · Human development · Granger-causality in quantiles · Quantile unit root test (QURT) · Quantile autoregressive unit root test (QAR)
* Muhammad Asif Qureshi [email protected] Extended author information available on the last page of the article
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1 Introduction Human Development Index is an undeniable tool for measuring, structuring, growing, and sustaining a country’s prosperity. This is the reason why the world at present considers human development a vital indicator of countries’ growth. Human developed societies ensure individual freedom by creating opportunities and improving the overall well-being of the people (Sen 1992). However, the development of humans is not a stationary achievement but demands continuous effort through governmental institutions as well as academia to contribute towards the sustenance of knowledgeable, blissful, and healthy people (Arocena and Sutz 2020). In this regard, the concept of innovation is crucial not only to address societal inequalities but to stimulate human capabilities both at the regional and national levels (Dakhli and De Clercq 2004)
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