International Journal of Innovative Engineering, Technology & Science

Science, Technology and Innovation Engineering in Developing Economy-Comparative Study of the Effects of Science, Technology and Innovation Engineering in the MINT Countries as Case Study
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Science, Technology and Innovation Engineering in Developing Economy-Comparative Study of the Effects of Science, Technology and Innovation Engineering in the MINT Countries as Case Study

Publication Date : 22/03/2021


Author(s) :

Obi, P. I., Amako, A. E. , Emeghara, M. C. .


Volume/Issue :
Volume 4
,
Issue 1
(03 - 2021)



Abstract :

This paper studies the effect and impact of science, technology and innovation engineering on developing economies with particular interest in Nigeria amongst the other developing countries; Mexico, Indonesia and Turkey known as MINT countries. The study was based on the human development index (HDI) as a measure of economic development of a country and it revealed that developing the Science, Technology and Innovation engineering sector is the surest way for a country to attain economic greatness. The results show that Nigeria lags behind all other MINT countries in all the indices as result of poor expenditure of her Gross Domestic Product on Science, Technology, Research and Development where she spends only 0.04% of its Gross Domestic Product against the World Bank recommended 2.4% of every Gross Domestic Product (GDP).


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