The impact of technological innovation on Australia's economic growth and business competitiveness

Authors

  • Archie Abraham University of Melbourne

DOI:

https://doi.org/10.55942/jebl.v2i5.344

Keywords:

Technological Innovation, Australia's Economic Growth, Business Competitiveness, Adoption, Digital Era

Abstract

This research explores the impact of technological innovation on economic growth and business competitiveness in Australia. It examines the relationship between technological advancements and productivity, the role of government policies in fostering innovation, and the challenges and opportunities faced by Australian businesses in the digital era. A mixed-methods approach was used, combining quantitative data analysis with qualitative insights, to provide a comprehensive understanding of the subject. The findings highlight the transformative role of technology in driving Australia's economic development while addressing barriers that impede its widespread adoption.

References

Australian Bureau of Statistics. (2024). Technology and innovation statistics. Retrieved from https://www.abs.gov.au/statistics/industry/technology-and-innovation

Austrade. (2024). Digital technology report. Retrieved from https://international.austrade.gov.au/en/news-and-analysis/publications-and-reports/digital-technology-report

Department of Foreign Affairs and Trade. (2021). Towards 2030: Positioning Australia as a leading digital economy and society. Retrieved from https://www.dfat.gov.au/about-us/publications/trade-and-investment/business-envoy-april-2021-digital-trade-edition/towards-2030-positioning-australia-leading-digital-economy-and-society

Department of Industry, Science and Resources. (2015). National innovation and science agenda report. Retrieved from https://www.industry.gov.au/publications/national-innovation-and-science-agenda-report

Department of Industry, Science and Resources. (2017). Australia 2030: Prosperity through innovation. Retrieved from https://www.industry.gov.au/publications/australia-2030-prosperity-through-innovation

Department of Industry, Science and Resources. (2024). Industry innovation. Retrieved from https://www.industry.gov.au/science-technology-and-innovation/industry-innovation

Future Made in Australia. (n.d.). The plan. Retrieved from https://futuremadeinaustralia.gov.au/

The Australian. (2024). Housing crisis scares mid-tier businesses. Retrieved from https://www.theaustralian.com.au/business/companies/midtier-businesses-optimistic-on-the-future-but-fear-the-housing-crisis-kpmg-enterprise-survey/news-story/bd81b3f6ab2d754ed3ccde69218593dc

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Published

2022-12-30

How to Cite

Abraham, A. (2022). The impact of technological innovation on Australia’s economic growth and business competitiveness. Journal of Economics and Business Letters, 2(5), 25–27. https://doi.org/10.55942/jebl.v2i5.344
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