High tech engineers: the engines for economic growth

Abstract

Technological transformation which has taken the shape of technological revolution can be of great help in the economic development of emerging economies. Engineers have always played an important role in the economic growth of a country. High tech engineers add measurable greater value to the economy giving them an edge. The global market is consistently growing through a technological boom in areas like nanotechnology, logistics, high performing computing and biotechnology. This has brought in a shift in the requirement and availability of engineers especially in the emerging economies. A functional relationship between the numbers of high tech engineers and the GDP of a nation is proposed. We study the rate of the GDP growth as a function of change in the rate of change of high tech engineers. The study is carried out for developing as well as developed economies.