Impact of Economic Growth, Consumer Spending, Inflation Rate and Wage Growth Rate and Unemployment Rate on Investment in Technology
Year: 2024
Type: article
Abstract: This study examines the combined effects of key economic variables; GDP growth rate, inflation rate, wage growth rate, consumer spending, and unemployment rate on investment in technology in China. Utilizing data from the World Bank (2005-2022) and employing SPSS for statistical analysis, the research reveals intricate interrelationships among these variables. Key findings highlight the strong negative correlation between GDP growth rate and unemployment, the positive impact of inflation and wage growth rate on technological investments, and the critical role of wage growth and employment conditions in fostering technological advancements. The regression analysis underscores the significance of wage growth rate and unemployment rate in driving investment in technology, while GDP growth, consumer spending, and inflation rate exhibit positive but statistically insignificant relationships. The study emphasizes the importance of wage growth and employment policies in stimulating technological investment, offering valuable insights for policy makers aiming to optimize economic growth through technological advancements. Future research should address the study limitations, such as small sample size and cross-sectional data, and explore additional variables and longitudinal impacts to build more comprehensive understanding of the factors influencing technological investments.
DOI: 10.54097/rw5r9397
Author: Muneeb Hussain
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4404146787