This paper is published in Volume-9, Issue-6, 2023
Area
Financial Econometrics
Author
Fatai Oluwaseyi Folorunsho, Prah Maame Korkor, Hassan F. Omolola, Philip P. Adeniyi
Org/Univ
Austin Peay State University, Clarksville, United States, USA
Pub. Date
25 December, 2023
Paper ID
V9I6-1224
Publisher
Keywords
Quantitative Model, Forecasting, Technology Disruption, Economic Growth

Citationsacebook

IEEE
Fatai Oluwaseyi Folorunsho, Prah Maame Korkor, Hassan F. Omolola, Philip P. Adeniyi. Quantitative approaches to forecasting the economic impact of technological disruptions in making informed decisions for sustainable economic growth in the U.S., International Journal of Advance Research, Ideas and Innovations in Technology, www.IJARIIT.com.

APA
Fatai Oluwaseyi Folorunsho, Prah Maame Korkor, Hassan F. Omolola, Philip P. Adeniyi (2023). Quantitative approaches to forecasting the economic impact of technological disruptions in making informed decisions for sustainable economic growth in the U.S.. International Journal of Advance Research, Ideas and Innovations in Technology, 9(6) www.IJARIIT.com.

MLA
Fatai Oluwaseyi Folorunsho, Prah Maame Korkor, Hassan F. Omolola, Philip P. Adeniyi. "Quantitative approaches to forecasting the economic impact of technological disruptions in making informed decisions for sustainable economic growth in the U.S.." International Journal of Advance Research, Ideas and Innovations in Technology 9.6 (2023). www.IJARIIT.com.

Abstract

The study is focused on forecasting economic impact of technological disruption using mathematical model to predict the consequences of disruptive technologies. Therefore, the study is aimed at analyzing quantitative data to show how disruptive technologies can be managed for the purpose of achieving sustainable economic growth in the United States. Several literatures were reviewed, especially those related to disruptive technologies. The study findings revealed that Information Technology (IT) expenditure and individual using internet have positive and significant effect on economic growth of United States. It was also revealed that there is significant difference in IT expenditure before and after 2010, indicating a decrease in total amount spent on IT. The findings also revealed that there is significant difference in US Gross Domestic Products (GDP) before and after 2010. Also, it was found that there is significant difference in number of individuals using internet before and after 2010. Therefore, the study concludes technological disruption is a significant determinant of economic growth in the US. The study recommended that initiatives aimed at enhancing broadband infrastructure and fostering digital literacy can play a pivotal role in sustaining and amplifying the positive impact of technological advancements on economic growth. By understanding and leveraging these findings, policymakers, industry leaders, and stakeholders can make informed decisions, fostering a conducive environment for sustainable economic growth in the United States. This study serves as a timely and significant contribution to the field, providing actionable insights for shaping economic policies and strategies amid the evolving landscape of technological disruptions.