Role of Technology in Value Creation

Technology is considered as a wheel of change all over the world and the countries are competing in technology creation and its adaptation in order to sustain their competitiveness. This study is conducted to analyze the role of technology in value creation and value enhancement in Pakistan. In order to study the adoption of technology in different sectors of Pakistan's economy during the period of 1985-2028 GDP growth was taken as the dependent variable while large manufacturing sector, labour force, health, education and exports were selected as independent variables.' The ARDL and Error Correction Models were applied to estimate long run and short run relationship between independent and dependent variables. The analysis found that there is positive and significant relationship between independent and dependent variables. The study, therefore, suggests that it is an urgent need to allocate sufficient funds for research and development and introduction of technology in every sector of economy for attaining rapid economic growth and sustainable development.