Research on how the digital economy has affected the improvement and modernization of the industrial structure in the Beijing-Tianjin-Hebei area

Abstract

Due to the Internet's rapid technological advancement, the level of digital economy development has become a crucial metric for assessing the quality of economic development as well as a significant driver for the improvement and modernization of industrial structure. It is crucial to examine and research the effects of the digital economy's growth on the modernization and optimization of the industrial structure in Beijing, Tianjin, and Hebei from the standpoint of cooperative development. Based on collecting and organizing relevant literature, this essay explains and evaluates Beijing, Tianjin, and Hebei's current state of industrial structure modernization and the growth of the digital economy, and conducts an econometric analysis to conclude that the level of digital economy development and industrial structure upgrading in Beijing, Tianjin and Hebei is improving. Next, the degree of government intervention, the amount of direct investment by foreign businessmen and the level of innovation in technology are introduced as control variables to construct a regression model, and it is discovered that the upgrading of the industrial structure in Beijing, Tianjin, and Hebei is significantly benefited by the digital economy.