Estimating the impact of information technology on economic growth in south Asian countries: The silver lining of education

Abstract

In this paper, the impact of Information and Communication Technologies (ICTs) on economic growth in South Asian countries is investigated during 1990–2014. For this purpose, the newly developed panel data estimation method Dynamic Seemingly Unrelated Regression (DSUR) is applied. According to the results, the impact of ICTs on economic growth remains positive in South Asian economies. In addition, education stimulates economic growth; however, foreign direct investment does not contribute to economic growth. The newly acquired result would guide policymakers and government officials to focus on the advancement of ICT for maintaining the sustainable economic growth. The findings imply that South Asian countries should raise the ICT level with proper technology education level to achieve the desired economic growth.