“…Innovation and information technology are important drivers of value creation in the competitiveness and performance of nations and corporations (Acharya, Singh, Pereira, & Singh, 2018;Gupta, Kumar, Singh, Foropon & Chandra, 2018;Nair, Chellasamy & Singh, 2019;Nguyen, Siengthai, Swierczek & Bamel, 2019). In the light of contemporary information technology spillover literature (Asongu & Acha-Anyi, 2020), the theoretical basis for the linkage underlying information technology and macroeconomic outcomes (such as value added across various economic sectors as it is the case within the framework of this study), is in accordance with the neoclassical framework for economic development by means of technological progress (Grossman & Helpman, 1991;Kwan & Chiu, 2015;Asongu & Odhiambo, 2018).…”