The Research On Impact Of Digital Economy On The Status Of Global Value Chains

Since the reform and opening up,China relies on the advantage of factor resources participating in the production and assembly links of the global value chain,driving the rapid development of China’s manufacturing,which has progressively become the production base of world,earning the name of "world factory".However,as the world economic situation changes and the domestic demographic dividend disappears,China’s manufacturing must transform and upgrade to deepen its participation and promote its position in GVC for maintaining sustainable trade and economic growth,and the advent of the digital economy provides an opportunity for the redevelopment of the manufacturing industry.The new digital economy model has gradually become the core engine of economic growth.In the wake of the financial crisis,countries have re-established manufacturing as the key to competing for a new round of economic growth,and are vigorously developing high-end manufacturing through digital transformation of manufacturing.Against this background,this thesis explores the impact of the digital economy on the status of global value chains based on the global value chain analysis framework,using empirical economics and interdisciplinary research methods to investigate the impact of the digital economy on the status of global value chains,using the Chinese manufacturing sector as the research object.First,using the ADB MRIO database during 2007 to 2019 to measure the level of digital economy and the global value chain status of China’s manufacturing sector,and to analyse its development trend and current status.Based on the digital economy analysis framework,we study the development history and global positioning of China’s digital economy and measure the current status of digital input in each sector of China’s manufacturing industry;based on the WWYZ model measurement,we determine the participation and position of China’s manufacturing industry in the global value chain and define the global value chain status from a dual dimension.Secondly,based on the regression results of the fixed-effects model,the impact of digital inputs in China’s manufacturing sector on the status of GVCs is empirically examined and robustness tests are conducted after the benchmark regression.Finally,the mediating effects model is used to explore the pathways of the impact of the digital economy on GVC status,and heterogeneity is analysed by distinguishing between two categories: industry and participation dimensions.The study shows that China’s digital economy has continued to expand in recent years,but the integration of the digital economy with the manufacturing sector has lagged slightly behind that of developed economies,and there are significant differences in digital investment across manufacturing sectors.Looking at the GVC status indicators,it can be seen that China’s manufacturing GVC position index has been increasing while its participation index has been decreasing,and the GVC status of each sector is mixed.Empirical evidence shows that digital investment can help improve the GVC position of China’s manufacturing industry as a whole through both technological innovation and cost savings,but the digital economy has a more significant effect on the status of low-medium technology-intensive sectors.Accordingly,this thesis argues that China should attach great importance to the integration of the digital economy and the manufacturing industry,and take full support for the development of the digital economy as the main driving force to achieve the goal of "manufacturing power",and promote the digital transformation of the manufacturing industry by strengthening the construction of digital infrastructure,mastering the core technologies of the digital economy and guiding the digital transformation of manufacturing enterprises.