How Can the Development of Digital Economy Empower Green Transformation and Upgrading of the Manufacturing Industry?—A Quasi-Natural Experiment Based on the National Big Data Comprehensive Pilot Zone in China

Abstract

Using the panel data of the manufacturing industry in 30 provinces of China from 2005 to 2021, this research takes the establishment of a Chinese national-level comprehensive big data pilot zone as a quasi-natural experiment, empirically analyzes the processing effect of digital economy development on the green transformation and upgrading of manufacturing industry by using a time-varying DID model. The results show that the development of the digital economy can significantly promote the green transformation and upgrading of the manufacturing industry. Further analysis reveals that the development of the digital economy has a significant effect on the green transformation and upgrading of the manufacturing industry in regions with low economic development levels and regions with high network development levels. The development of the digital economy can significantly stimulate the green technology innovation of enterprises and promote the upgrading of industrial structures so as to promote the green transformation and upgrading of the manufacturing industry. Manufacturing agglomeration and environmental regulation intensity have moderating effects and threshold effects, respectively, on the impact of digital economy development on the green transformation and upgrading of the manufacturing industry.