Author:
Agama Omachi

Doi: 10.26480/csmj.02.2025.56.65

This is an open access article distributed under the Creative Commons Attribution License CC BY 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Technological innovation plays a critical role in driving economic growth, particularly in developing economies where the potential for transformative progress is substantial. This paper explores the mechanisms by which technological innovation fosters economic growth, focusing on its role in improving productivity, creating new markets, and enhancing the competitiveness of domestic industries. Developing economies often face structural challenges such as inadequate infrastructure, limited access to capital, and skill gaps, which can be mitigated by embracing technological advancements. Furthermore, innovations in sectors such as agriculture, manufacturing, and services can lead to more efficient production processes, job creation, and sustainable development. This paper also examines the role of government policies, investments in research and development (R&D), and collaboration between public and private sectors in creating an environment conducive to technological growth. Additionally, it highlights the importance of building human capital and reducing the digital divide to ensure equitable access to technological benefits. Overall, technological innovation is positioned as a key driver for long-term economic stability and prosperity in developing economies.