Description:
Technology adoption is crucial to economic growth, yet levels of technology adoption vary, with limited adoption in many countries. Countries wield considerable technology adoption power, and their adoption activities can be leveraged to achieve social, economic, and environmental goals by endorsing more desirable technologies into the market. To encourage greater adoption, it is vital to determine technology adoption predictors to design effective promotion policies. While there is substantial research in individual consumer adoption behavior, less is known about a country’s technology adoption behavior. To overcome these gaps in research, we undertook an investigative study to better understand the predictors of a country’s technology adoption rate. We use a random effects panel model to predict technology adoption factors for a sample of 15 countries over the period of 2010-2019 using secondary datasets. We identify a statistically significant effect of competitiveness, cybersecurity, and the level of political stability/non-violence and terrorism. We thus posit that a country that is highly competitive, has enhanced cybersecurity and a low level of political violence and terrorism adopts new technologies more readily than others