Development Of Digital Economy Research Articles

Can Digital Economy Development Facilitate Corporate ESG Performance?

As ESG (environmental, social, and corporate governance) is consistent with the spirit of sustainable development, it is useful to elevate ESG performance to realize the sustainable development of enterprise and society. Using the data of Chinese A-share listed firms in the period of 2011 to 2019, this paper takes the National Big Data Comprehensive Pilot Zone policy as a quasi-natural experiment and uses the difference-in-differences method to assess the effect of digital economy development on ESG performance. This paper reveals the following: (1) the digital economy can facilitate ESG performance; (2) digitalization of the economy helps enterprises to propel digital transformation, which in turn lifts ESG performance; (3) digital economy development has a deeper impact on private enterprises, especially for those in China’s capital cities; and (4) digital economy development moderates the inhibiting effect of ESG performance on corporate financial constraints. The findings of this paper indicate that digitalization of the economy can help to achieve sustainable development.

Study on the Impact of Digital Economy Enabling High-Quality Economic Development in Yunnan Province

This article aims to explore the role of digital economy and its mechanism in promoting the high-quality development of Yunnan Province's economy. By constructing an evaluation index system and applying econometric methods, the current situation of the digital economy in Yunnan Province and its impact on the high-quality development of the economy are comprehensively analyzed. It is found that the digital economy has a significant positive contribution to the high-quality development of Yunnan Province's economy, and indirectly affects the high-quality development of the economy by enhancing the level of entrepreneurship. In addition, there is a non-linear relationship between the digital economy and high-quality economic development, and the promotion effect of the digital economy on high-quality economic development varies significantly across different levels of economic development. Based on these findings, the article puts forward policy recommendations such as comprehensively promoting the development of the digital economy and implementing a differentiated digital economy development strategy in order to promote the sustainable development of Yunnan Province and the wider region in the era of the digital economy.

The Impact of Digital Economy on Domestic Trade and Investment Efficiency Measurement and Heterogeneity Analysis

Against the backdrop of a new round of booming technological revolution, the digital economy has brought about high-quality development for trade. This paper is based on the 2011-2019 China's trade and investment in China, which will have a profound impact on China's trade and investment. This paper is based on the2011-2019 China. The spatial panel data of 30 provinces (excluding Tibet, Hong Kong, Macao and Taiwan) were analysed by using OLS model, panel solid model and panel data. Construct correlation regression models using fixed effects model, panel random effects model, differential GMM and systematic GMM methods. type and "Digital Economy Development Level Indicator System" to study the impact of the digital economy on the efficiency of domestic trade and investment.so as to contribute to the promotion of high-level opening up to the outside world, the deepening of domestic demand strategy, and the construction of " trade power".

Can Digital Innovation Improve Green Total Factor Productivity: Evidence from Digital Patents of China

Amid intensifying global economic rivalries, China has pinpointed the digital economy and sustainable growth as key accelerators for societal and economic progress. Digital innovation (DI) plays a crucial role in propelling China’s economy towards sustainable growth, by serving as the technological backbone of the digital economy. This study explores how DI influences China’s GTFP through an analysis of panel data covering 30 provinces, municipalities, and autonomous regions from 2005 to 2021. The results indicate that DI greatly contributes to the enhancement of GTFP. DI can also indirectly promote GTFP by increasing the effectiveness of factor allocation efficiency including capital, labor, and technology. Heterogeneity analysis results indicate that the influence of DI on GTFP differs depending on the degree of intellectual property protection (IPP), the development of digital infrastructure construction (DIC), and the geographical location. A higher degree of IPP and developed DIC make areas better suited for the role of DI in advancing GTFP. Furthermore, in the central and eastern areas, the impact of the digital economy on the promotion of GTFP is particularly noticeable. This study offers reliable empirical evidence for the effect of DI on GTFP and contributes to China’s digital economy and sustainable development.

Deep learning: Spatiotemporal impact of digital economy on energy productivity

Can digital economy in developing countries always promote energy productivity? Using a panel data of thirty provinces in China, this study utilizes artificial neural network and SHapley Additive exPlanations for a sample-by-sample analysis, which effectively mine the nonlinear correlation and spatiotemporal evolution between digital economy and energy productivity. The findings show: First, the influence of digital economy and various factors on energy productivity demonstrates a U-shaped pattern. Particularly, digital inclusive finance is steadily emerging as the predominant factor. Second, the lagging effect of digital infrastructure and digital innovation environment stand as crucial drivers without exhibiting a cumulative trend. As a nascent motivator, digital economy effectively disrupts development inertia, significantly contributing to the enhancement of energy productivity. Third, the effect unfolds as a gradual intensification, also characterized by a non-equilibrium distribution pattern spatially, with varying dominant factors across distinct regions. Fourth, forecast indicates that vigorous promotion of the digital economy will bolster the realization of China's 2025 energy productivity target (2.64 > 2.53). Furthermore, the digital economy exerts a marginal increasing effect on energy productivity. This research not only supplements the analysis from a methodological standpoint, but also provides reliable academic support and policy inspiration for integrating digital economy development with energy productivity advancement across countries.

Digital economy and urban innovation level: A quasi-natural experiment from the strategy of “Digital China”

The digital economy is an essential engine of the innovation-driven development strategy and plays a valuable role in promoting the high-quality development of the regional economy. Based on the panel data of 286 cities in mainland China with the help of the digital economy strategic plans issued by local governments as a quasi-natural experiment, we use the multi-temporal double-difference (DID) method to examine the impact of the digital economy on the urban innovation level. Findings show that the digital economy can significantly improve the urban innovation level. After a series of robustness tests, such as parallel trend test, updating sample and period, and repeated placebo test, the innovation-driving effect generated by the development of the digital economy remains significant. Results of the mechanism analysis indicate that the digital economy enhances the level of innovation through upgrading industrial structures. In addition, we find through the heterogeneity test that the digital economy has a stronger effect on improving the quality of innovation. Meanwhile, the innovation output in the Middle Eastern region is more significantly affected by the “Digital China” strategy than the Western region. Therefore, we should accelerate the implementation of the local digital economy development strategy to realize the high-quality development of the regional economy.

The Enabling Effect of Digital Economy on High-Quality Agricultural Development-Evidence from China

The Enabling Effect of Digital Economy on High-Quality Agricultural Development-Evidence from China

Does the digital economy development improve or exacerbate income inequality? International evidence

AbstractWith the fast development of the digital economy, this study concentrates on the influence of digital economy development on income inequality in 97 countries. Three results are discovered. Firstly, the digital economy development contributes to improving income inequality, but this effect is weakened by the moderating effect of globalization globally. Secondly, digital economic development improves income inequality in lower‐middle‐income and low‐income countries; while the high‐income countries and upper‐middle‐income are not significant. Thirdly, the mechanisms reducing inequality are explored in terms of generating industries with low barriers to new entrants, reducing labor market information asymmetries, and promoting human capital equalization.

Digital economy development and export upgrading: Theoretical analysis based on Chinese experience

AbstractThe development of the digital economy in China has not only led to a revolution in science and technology and its industry transformation but also affected China's export upgrading. This article uses the provincial‐level panel data of China's export products from 2012 to 2019 to explore the impact and mechanism of digital economy development on export upgrading. The result shows that the development of the digital economy generally promotes the technical complexity of exports, which is more significant in regions with higher resource allocation efficiency. The mediation effect test finds that the development of the technology market and human capital improvement are the two basic paths of the digital economy to promote export upgrading. The conclusion is still valid after a series of robustness tests, such as replacing the explanatory variables and using instrumental variables.

Distribution dynamics and quantile dynamic convergence of the digital economy: Prefecture-level evidence in China

The digital-substantive fusion is the realistic need to crack the problem of “out of the real to the virtual” in the real economy. Based on the panel data of 288 prefecture-level cities in China from 2011 to 2019, we use kernel density estimation and quantile convergence model to explore the distribution dynamics and convergence trend of the digital economy across the country and in the eastern, central, and western regions. In doing so, we unearth several key findings. First, the development of the digital economy in Chinese cities is on the rise, but absolute differences among cities still exist. Second, the overall development of the digital economy exhibits a dynamic q-σ convergence trend, but the development of the digital economy in the central region from the 0.75 to 0.95 quantiles shows a divergence trend. Third, our analysis reveals quantile heterogeneity and regional heterogeneity in the dynamic absolute q-β convergence of digital economy development. The tendency to converge is stronger in the extreme quantile regions than in other regions, while the convergence speed of central and western regions is higher than that of eastern regions. Finally, the dynamic conditional q-β convergence trend of digital economy development across the country and in the eastern, central, and western regions is stronger than the dynamic absolute q-β convergence, with the trend of convergence weakening only in the eastern high quantile regions. These findings provide empirical evidence for promoting regional coordinated high-quality development of digital economy, as well as theoretical references for vigorously promoting the construction of a modernized industrial system and accelerating the development of new-quality productive forces.

Economic Policy Uncertainty and Enterprise Export Resilience in China: Does the Digital Economy Matter?

In the new era of international trade, escalating uncertainty and the swift development of the digital economy stand out as two pivotal transformations. These phenomena individually exert significant influences on enterprises' exports; however, their combined effects on export resilience remain underexplored. Hence, drawing on existing theories, this paper analyzes the weakening effect of economic policy uncertainty on export resilience and explores the influence of regional digital economic development on this attenuation effect. Furthermore, empirical tests are conducted using micro-level data from China. The study findings reveal: (1) Economic policy uncertainty weakens firms' export resilience by increasing transaction costs; (2) Digital economic development mitigates this weakening effect by reducing transaction costs, with a more pronounced effect observed among highly efficient firms. The findings suggest that amid escalating uncertainty, vigorously promoting digital economic development holds profound policy significance for the high-quality development of international trade.

Application of network data security based on wireless sensor technology in the development of digital sharing economy

Nowadays, when the existing algorithms are fused in the feature function network feature, they do not consider the different effects of different features on the saliency detection task. In order to solve this problem, this paper proposes a saliency feature fusion network based on multi-focus mechanism to complete the saliency detection task. While recognizing the important role of the network, it must also be realized that because most network users do not understand the details of network composition and network system analysis, the security of computer network data is relatively low. Unscrupulous hackers use their network technology and software to invade unauthorized networks and hosts without authorization. Therefore, network data security is very important. The competition and monopoly of the digital sharing economy platform has always been a hot topic of increasing attention from domestic and foreign economists. The platform economy is based on an efficient data collection and transmission system, a digital platform supported by continuously developing computing power and powerful data processing algorithms, which greatly promotes the development of social productivity. The core trend of the development of China's digital economy is the ecologicalization of the digital sharing economy. Small industrial platforms rely on massive user resources collected by a large platform to quickly connect the upper and lower channels of the industry to transform and form a new industry ecosystem.

Impact of digital economy on urban land green use efficiency: evidence from Chinese cities

Abstract Improving urban land green use efficiency (ULGUE) is essential for achieving the sustainable use of land resources and the high-quality economic development of cities. The digital economy has overcome spatial and locational constraints, blurred the boundaries between industries, and created a collaborative and open economic model, inevitably affecting urban land utilization. However, whether the digital economy will affect ULGUE and how such an effect would take place are still unclear. This study evaluates the digital economy and ULGUE of Chinese cities from 2011 to 2019 and systematically analyzes both the direct and indirect impact mechanisms through which the digital economy affects ULGUE. The results show that the digital economy can significantly enhance ULGUE, and these results prove to be reliable, as shown by various endogeneity treatments and robustness tests. The digital economy enhances ULGUE by optimizing the industrial structure (structural effect), increasing green technology innovation (technical effect), and agglomerating digital talent (scale effect). Moreover, land finance dependency plays an adverse moderating role in the relationship between the digital economy and ULGUE. Further heterogeneity analysis shows that the promoting effect of the digital economy on ULGUE takes full effect in the eastern cities, larger cities, and cities with high levels of digital economy development and land marketization. This paper presents recommendations for supporting the balanced and integrated development of the digital economy across regions and provides differentiated development strategies to enhance ULGUE in the context of digitization.

Personnel development under digital economy conditions

Personnel development under digital economy conditions

Research on Empowering the Development of Green Finance in the Yangtze River Delta Economic Belt with Digital Economy

This article constructs a model of the development trend of green finance under the influence of various factors such as big data and the Internet of Things through literature review and personal practice. Based on the pattern of domestic "dual carbon" environment driving the vigorous development of digital economy, it solves the problem of the effect differences under traditional financial system, credit constraint mechanism, and financial supervision on the development of green finance. At present, green finance in the Chinese market is only at a relatively large scale, but it has broad development prospects and can further break through with the development of the digital economy. Therefore, exploring it, finding the right direction and reasonable development strategies can improve the quality and efficiency of China's financial market.

Comparative Analysis of Digital Trade Rules between China and the United States: Taking USMCA as an Example

With the rapid development of digital economy, the rule setting and practice of China and the United States in the field of digital trade have become the focus of international attention. The coordination and cooperation of digital trade rules between China and the United States will definitely play a key role in the healthy development of the global digital trade. Taking USMCA as an example, this paper conducts an in-depth comparative analysis of the digital trade rules between China and the US, summarizes the differences between China and the US in the field of digital trade rules at the levels of national strategy, interest orientation, rule claims and dispute settlement mechanism, and puts forward policy suggestions on China's docking of international high-standard digital trade rules as well as how to construct a digital trade rules system with Chinese characteristics.

Digital Technology Innovation, Surplus Management and Analyst Forecast Bias

With the rapid development of digital economy, digital technology, as its technical support, has an important impact on market information environment and analysts' forecast deviation. Using the data of listed companies from 2007 to 2021, this paper investigates the impact of corporate digital technology innovation on analyst forecast bias. We find that enterprise digital technology innovation has a restraining effect on analyst forecast bias, and this conclusion is still valid after a series of robustness tests. Heterogeneity analysis shows that this effect is more obvious in firms with low media attention, investor attention and institutional ownership. Mechanism analysis shows that digital technology innovation inhibits firms' earnings management behavior, thus reducing analyst forecast bias. These results are consistent with the logic that digital technology innovation enables managers to use visual earnings management to suppress earnings manipulation and reduce analyst forecast bias. The conclusion of this paper expands the research scope of the economic effect of technological innovation in the digital era, and has certain significance for enterprises to optimize digital innovation strategy and improve market transparency.

EXPLORING FACTORS INFLUENCING THE DIGITAL ECONOMY: UNCOVERING THE RELATIONSHIP STRUCTURE TO IMPROVE SUSTAINABILITY IN CHINA

Digital economy is a great route to promote the efficient utilization of natural resources and promote sustainability due to its high-tech, rapid growth, extensive penetration, deep integration and other characteristics. Existing study on the influencing factors of the digital economy is not deep enough and lacks the analysis on the relationship structure of factors influencing the digital economy, which is not conducive for an overall grasp of the digital economy. To correctly understand how to better develop the digital economy, this paper studies its influencing factors and the relationships between them. Based on the time-series data of China from 2002 to 2018, grey correlation analysis was applied to calculate the correlation between these influencing factors and the digital economy, and determine the major influencing factors of digital economy development in China. The Granger causality test and a review of existing research were used to judge the interrelationship of various factors. The interpretative structure model was utilized to determine the relationship structure of the main factors affecting the development of China’s digital economy. The results show that the number of digital talents, state of the technology market, and degree of digitalization are direct influencing factors of the digital economy. The results help to better understand the development of the digital economy and will enable the implementation of policies to improve towards more sustainable cities.

The path toward urban carbon neutrality: How does the low-carbon city pilot policy stimulate low-carbon technology?

To reduce carbon emissions, it is important to promote the development of low-carbon technology in urban areas. This study is the first to examine the impact of policies on the advancement of low-carbon technologies using the Low-Carbon City Pilot Policy as a quasi-natural experiment. Specifically, the study examines the impacts of the Low-Carbon City Pilot Policy on low-carbon and carbon-reducing, -neutral, and -negative technologies. It does so by analyzing data from 2006 to 2020 across 278 prefecture-level cities in China. The analysis is based on various models and includes use of multi-period difference-in-differences (DID), multi-period propensity score matching (PSM) DID, event study, staggered DID, and synthetic DID (SDID). The results indicate that the Low-Carbon City Pilot Policy has substantially impacted the development of urban low-carbon inventions, particularly evident in the ongoing growth of carbon-neutral and -negative technologies. The Low-Carbon City Pilot Policy is mainly achieved through industrial upgrades, green finance, and public behavior, but the effects on low-carbon technologies are heterogeneous due to environmental resources law and regional digital economic development. These findings offer more theoretical backing and empirical substantiation for the Chinese government's pursuit of “point-to-surface” implementation of low-carbon cities, and for the expedited achievement of its “carbon peaking, carbon neutrality” target.

Impact of rural digital economy development on agricultural eco-efficiency: evidence from mainland China

The integration of the digital economy with rural development is of great significance as it plays a pivotal role in mitigating carbon emissions and environmental pollution in agriculture, thereby contributing to the evolution of agriculture in a green and sustainable manner. This study aims to examine the impact and mechanisms of rural digital economy development (RDED) on agricultural eco-efficiency (AEE). Specifically, based on provincial-level panel data from China spanning from 2011 to 2021, we evaluate China’s AEE by employing the super-efficiency slacks-based measure (Super SBM) model, taking into account the positive externality of agricultural carbon sinks. Then we analyze the impact and mechanisms of RDED on AEE using the two-way fixed effects model. The findings indicate that: (1) RDED significantly promotes AEE, and this conclusion remains robust even after being tested by replacing the explained variable, altering the sample interval, and including more control variables; (2) RDED can significantly drive AEE in the midwestern regions of China, but the promotion effect on the eastern region has not been fully demonstrated. Additionally, the promotion effect in southern China is greater than that in northern China; (3) agricultural science and technology investment partially mediates the impact of RDED on AEE. Moreover, agricultural science and technology innovation has a positive moderating effect on the relationship between RDED and AEE. Lastly, this study provides new evidence and policy recommendations for developing countries, such as China, to proactively facilitate the coordinated development of the rural digital economy and agricultural ecology, and attain green and sustainable ecological agriculture.