The Impact of Modern Technologies on the Transformation and Sustainability of Traditional Businesses

Abstract :
This study examines the role of modern technologies in transforming traditional businesses and enhancing economic growth among OPEC member countries. Using panel data from 2012–2019, the research focuses on key indicators such as the Business Environment Index, Economic Growth Index, and Modern Technology Index (ICT), alongside control variables like government size, taxation, and human capital. The findings highlight that modern technologies play a crucial role in transforming traditional business models, fostering innovation, increasing productivity, and bridging knowledge gaps. Moreover, modern technologies significantly amplify the positive impact of an improved business environment on economic growth. Policymakers are urged to prioritize digital infrastructure, technological advancement, and innovation-driven strategies to support the transformation of traditional businesses and ensure sustainable economic development in OPEC nations.

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