Does Technological Advancement Really Affects Economic Growth Of Pakistan?

In this research paper, we have tried to see whether technological progress really affects the economic growth of Pakistan or not. Different variables like Education expenditure, patents applications, Foreign Direct investment, unemployment and R&D expenses were chosen to check the impact of technology on economic growth. Time series data, for the period 1998-2018, was used in this study. We used Unit root test to check stationarity among variables while ARDL models and Bound test were used to explore short run and long run relationship between technology and economic growth. We found positive relationship between research and development (R&D) and innovations and in turn inventions can boost GDP rate.