The Influence Mechanism And Path Of Digital Economy On Green Transformation And Upgrading Of Manufacturing Industry

As a very important component of the new development concept,green development is the key to achieving the harmonious unity of economic and social development and ecological setting protection.Finding the issues of resource shortage and ecological setting pollution caused by intensive development within the producing business has been a serious challenge in inexperienced development.The explosive growth of the digital economy has given rise to new solutions for dealing with this problem in light of the new economic normal.The digital economy has endowed China’s manufacturing industry with new growth,and the acceleration of digital industrialization and industrial digitization has transformed China’s economic development model.In order to promote the green transformation and upgrading of the manufacturing industry driven by the digital economy and to achieve sustainable and high-quality economic development,China’s economic development strategy should prioritize digital technology and empower green development with digital elements.This article primarily focuses on how the digital economy has affected the greening and modernization of the manufacturing sector,which includes the following parts:(1)Investigating potential regulatory effects,nonlinear effects,and spatial spillover effects to provide theoretical support for ensuing empirical research hypotheses,as well as the intrinsic logic of the green transformation and upgrading of the manufacturing industry,the mechanism by which the digital economy affects the green transformation and upgrading of the manufacturing industry,and other related topics.(2)This relates to measuring the levels of digital economy and manufacturing green transformation and upgrading,and studying their development trends,utilizing the entropy method and global super-efficiency SBM model.(3)Initially,the benchmark regression model for testing the impact of the digital economy on the degree of green manufacturing industry transformation and upgrading was constructed as the bidirectional fixed effect model.Second,a moderating impact model is established,and a panel threshold analysis is utilized to examine the mechanism.Environmental regulation and human capital are chosen as moderating variables,while industrial scale is employed as a threshold variable.A spatial econometric model is used to assess the spatial correlation of the green transformation and upgrading of the manufacturing industry as well as the spatial spillover effect of the digital economy on the transformation and upgrading of the manufacturing industry.The following results were reached by this study after analyzing panel data from 30 Chinese provinces and cities between 2011 and 2020(with the exception of Tibet,Hong Kong,and Macao):(1)There were notable differences in the development levels of the digital economy and the level of green transformation and upgrading of the manufacturing industry among provinces and cities,and there was a clear "Matthew effect" during the study period.Overall,China’s digital economy and the level of green transformation and upgrading of the manufacturing industry both showed an upward trend.(2)The green modernization and upgradation of the manufacturing sector can be considerably aided by the digital economy,and this result has withstood numerous robustness tests.(3)The empirical analyses of the influencing mechanism revealed that human capital and environmental regulation have a U-shaped moderating influence on the promotion of the degree of green transformation and upgrading of the manufacturing sector by the digital economy.(4)Depending on the scale of the industry,the promotion impact of the digital economy on the industrial sector’s level of green transformation and upgrading varies.In particular,when the regional industry scale expands,the promotion influence of the digital economy on the level of green transformation and upgrading of the manufacturing sector exhibits a consistent increasing trend.(5)The development of the digital economy in one region may have a positive effect on the green transformation and upgrading of the manufacturing industry in the neighboring region.The green transformation and upgrading of the manufacturing industry have a significant spatial positive correlation,and the impact of the digital economy on these two factors has a spatial spillover effect.On the basis of the aforementioned research findings,the following recommendations for public policy are made: Strengthen the foundation of the digital economy and scientifically develop the digital economy;Enhance the framework for environmental regulation and hasten the manufacturing sector’s transition to a greener economy;Raise the bar for human capital while supporting the digital talent team.