Study of the Effects of Information and Communication Technology, Electricity Consumption and Economic Complexity on Economic Growth in Selected Developing Countries

Inclusive growth creates equal opportunities for economic participants in economic growth so that all sectors of society benefit from growth and participate in creating growth. Inclusiveness results in economic growth that reduces poverty and inequality and benefits the marginalized. Therefore, development goals should go beyond simply increasing GDP and also reduce poverty and inequality. Considering the growth of the population and its increasing needs, without economic growth, it is not possible to respond to the needs of the growing population of countries. In fact, the growth of national production, which is known as economic growth, is one of the important economic components in the pattern of progress for any country. Growth increases income and abundance of goods available to consumers, thereby increasing welfare. Considering the importance of economic growth in countries, especially developing countries, the investigation of factors affecting economic growth is one of the requirements. Therefore, the purpose of this study is to analyze and investigate the effects of information and communication technology, electricity consumption and economic complexity on economic growth in selected developing countries during the period of 2016-2021. In this study, economic growth is the target variable, information and communication technology, electricity consumption and economic complexity are explanatory variables, and human capital and trade are control variables. In this research, the method of estimation of generalized moments (GMM) was used to investigate the subject. In general, the results indicate that information and communication technology, electricity consumption, human capital and trade have a positive and significant and economic complexity has a negative and significant effect on the economic growth of selected developing countries