Technological progress drives sustainable economic growth in Hong Kong, study finds
The article analyzes how technological progress affects economic growth in Hong Kong from 1991 to 2015. The researchers found that technological progress, measured as total factor productivity (TFP) growth, contributed around 41.1% annually to Hong Kong's economic growth during this period. They also discovered that for every 1% increase in TFP growth, there was a 0.49% increase in GDP growth. The study suggests that technological progress plays a crucial role in driving sustainable economic growth in Hong Kong.