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Considering global issues such as resource scarcity and climate change, and socio-economic inequalities, innovation in technology is essential for sustainable development. However, its impact across economic, social, and environmental dimensions remains underexplored. This study explores panel data from 104 countries (2005–2022) using fixed-effects models, mediating effect models, heterogeneity analysis, entropy weight methods, and principal component analysis. The findings reveal three key insights. First, technological innovation significantly enhances sustainable development in all three domains. Moreover, mechanism tests demonstrate that technological innovation fosters sustainable development by driving financial development, trade openness, and industrial structure upgrading. Additionally, heterogeneity analysis indicates that its economic benefits are more pronounced in high-income countries, while its environmental and social impacts are stronger in low-income countries. These findings underscore the need for tailored strategies to maximize the benefits of technological innovation. Policies should foster technological breakthroughs, financial development, trade openness, and industrial transformation to support the 2030 Sustainable Development Agenda.
Zhang et al. (Mon,) studied this question.