Journal of Business & Economic Policy

ISSN 2375-0766 (Print), 2375-0774 (Online) DOI: 10.30845/jbep

The Effect of Technological Progress on Economic Growth
Mohammad Alawin, Prince Al-Alwan

The aim of this study is to calculate the contribution of the technological progress to the Jordanian economic growth during the period (1976-2017). The model in this paper depends on Solo model, which employs technological progress as one of the productive elements that contributes to economic growth.The results show that the variables under consideration have a relationship in the long-run. This study concludes that the weakest factor that contributes to the growth in the Jordanian economy is advancesin technology.The low contribution of technology compared to other resources of production (capital and labor) could be attributed to excessive spending on technology in some years and to the exceptional improvement of the productivity of other resources of productionin other some years. These results indicate that more research, using different methods, should be carried out on this area.

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