Abstract
This article investigates the impact of information and communication technologies (ICTs), human capital, institutional settings, socio-economic, and environmental parameters on sustainable innovation (SI) using archival data for 127 economies from 2008 to 2017. We developed an econometrics research framework for investigating factors influencing SI on a global scale. We found that ICT variables, such as ICT access and ICT broadband network, positively influence sustainable innovation in conjunction with the socio-economic and political parameters. Despite differences among economies in terms of ICTs, socio-economic development, and educational attainment, ICTs are the significant drivers of sustainable innovation and economic growth. We observed a growing digital divide among nations within the context of the knowledge-based economy and the expansion of digital commerce, particularly in the least developed countries and Africa, a phenomenon impeding sustainable innovation growth. To the best of our knowledge, this is the first study that empirically investigates the global digital divide from sustainable innovation perspectives. The results of this study suggest that to tackle the digital divide issues, policymakers and educational institutes need to perform constructive educational reform in higher education curricula, particularly concerning STEM programs, which should reflect the necessary skills and competencies for deploying emergent technologies. In addition, ICT should be considered part of a country’s critical infrastructure, particularly investment in the broadband networks regarded as the backbone of today’s innovation.
Highlights
IntroductionThe fourth industrial revolution, or industry 4.0, is marked by emergent technologies such as big data, cloud computing, quantum computing, artificial intelligence (AI), Internet of things (IoT), 5G, blockchain, machine-to-machine (M2M) communication, and business process automation, where the majority of products, processes, and services are digitized
The fourth industrial revolution, or industry 4.0, is marked by emergent technologies such as big data, cloud computing, quantum computing, artificial intelligence (AI), Internet of things (IoT), 5G, blockchain, machine-to-machine (M2M) communication, and business process automation, where the majority of products, processes, and services are digitized.This has drastically increased productivity, forcing major global economies to innovate and shift directions; spawning knowledge-based economies
Their impacts are statistically significant at 0.01. It highlights the important roles of higher education on sustainable development, including the role of science and technology (SandT), in promoting innovation [99]
Summary
The fourth industrial revolution, or industry 4.0, is marked by emergent technologies such as big data, cloud computing, quantum computing, artificial intelligence (AI), Internet of things (IoT), 5G, blockchain, machine-to-machine (M2M) communication, and business process automation, where the majority of products, processes, and services are digitized. This has drastically increased productivity, forcing major global economies to innovate and shift directions; spawning knowledge-based economies. As defined by the Organization for Economic Co-operation and Development (OECD), knowledge-based economies describe an environment where technology and applying information are key factors in creating a competitive edge and maintaining some economic stability [1]. Other terms used for sustainable innovation are eco-innovation [5], and the green economy innovation
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