Impact of Technology Advancement on Economic Development of Kazakhstan: an ARDL Assessment

Abstract One of the most important concerns for both industrialized and emerging nations will continue to be economic development. Since modern technologies have permeated practically every aspect of human existence, technological advancement plays a unique role in this regard. This study was carried out to evaluate the influence of technological development elements on the nation’s economic development. ICT goods exports, research and development expenditure, scientific and technical journal articles, and patent applications were taken as independent factors, and GDP per capita was taken as dependent. The study employed the Autoregressive Distributed Lag model and covered the years 2000–2022. The study’s conclusions demonstrate the long-term and short-term benefits of science-based and patent-based technology advancement for the nation’s economic development. For scientists doing such research, the authors hope that this work will represent a fresh breakthrough.