Research On The Impact Of Digital Economy On Economic Growth

At present,my country’s economy is showing obvious characteristics of slowing growth.Traditional kinetic energy has been unable to drive rapid economic growth as usual.Therefore,finding new economic growth drivers and growth methods is an inevitable requirement for future economic development.The emergence of the digital economy has brought new opportunities for my country’s current economic development and has become an important driving force for stabilizing my country’s economic growth.However,as a new driving force for economic growth,how does the digital economy affect my country’s economic growth,and what is its internal mechanism? This question needs further discussion.Fully understanding the current situation of digital economy development and clarifying the impact mechanism of digital economy on my country’s economic growth is conducive to better development of digital economy and ultimately realize the long-term sustainable development of my country’s economy.First of all,this paper sorts out relevant literature at home and abroad,and based on the concepts and related theories of digital economy,economic growth and technological innovation,constructs a theoretical analysis framework for the impact of digital economy on economic growth,and systematically analyzes the direct impact of digital economy on my country’s economic growth.impacts and indirect impacts mediated by technological innovation.Secondly,this paper analyzes the development level of my country’s digital economy and the status quo of economic growth.Based on relevant research at home and abroad,it selects indicators to construct an index system for the development level of urban digital economy,and uses the entropy weight method to analyze the data of 285 prefecture-level cities in my country from 2011 to 2019.Measure and analyze the level of economic development.Then,on the basis of theoretical and current situation analysis,a fixed-effect model is constructed to test the impact of digital economy on my country’s economic growth,and heterogeneity analysis is carried out according to urban geographic location and economic development level to find out the reasons for the differences,and use The mediation effect model examines the role of technological innovation in the process of digital economy affecting my country’s economic growth.Finally,based on theoretical and empirical analysis,the research conclusions are drawn,and relevant policy suggestions are put forward on how to effectively develop the digital economy and formulate economic development strategies in China.Through the above analysis,the main conclusions of this paper are as follows:(1)From the perspective of the development status of the digital economy,its overall scale continues to expand,which has become an important support for my country’s economic growth.The digital economy of various cities is developing rapidly,but the characteristics of the cities are gradually differentiated;the cities with a higher level of digital economic development are mainly concentrated in the Yangtze River Delta and the Pearl River Delta,Beijing,and the capital cities of various provinces,while the digital economy development level The lower cities are mainly distributed in western regions such as Gansu and Yunnan,and the development level of urban digital economy shows that the eastern region is higher than the central and western regions,and the developed regions are higher than the less developed regions.As far as economic growth is concerned,my country’s economic growth rate has slowed down,and the overall economic scale has continued to expand.The economic scale of the central and western regions is basically the same,but the gap with the eastern region is gradually widening.(2)From the benchmark regression results,the coefficient of the development level of the digital economy is significantly positive,which indicates that the digital economy can promote my country’s economic growth.From the perspective of control variables,the coefficients of labor input,capital stock,foreign direct investment and industrial structure are all significantly positive,indicating that they have a positive role in promoting my country’s economic growth,which is consistent with the research results of most scholars.However,the coefficient of the degree of government intervention is negative,indicating that government intervention is not conducive to my country’s economic growth,which may be due to excessive government spending leading to rising interest rates,thereby crowding out private investment.(3)The impact of the digital economy on my country’s economic growth has significant regional heterogeneity and economic development level heterogeneity.From a regional perspective,the impact of the digital economy on economic growth in the eastern region is greater than that in the central and western regions.According to the regression results of the economic development level grouping,the impact of the digital economy on the economic growth of developed regions is greater than that of less developed regions.This shows that the development of the digital economy has triggered a stronger "Matthew effect" for the strong.(4)From the analysis of the regression results of the intermediary effect,it can be seen that technological innovation has played a partial intermediary role in the process of the digital economy promoting my country’s economic growth,that is,the digital economy can promote my country’s economic growth by improving the level of technological innovation.Based on the above research conclusions,in order to better develop the digital economy to achieve the sustainable and stable development of my country’s economy,this paper puts forward the following policy suggestions:(1)Pay attention to the development of the digital economy and improve the level of the digital economy.(2)Optimize the allocation of digital resources and coordinate the development of the regional digital economy.(3)Use digital information technology to improve the level of technological innovation.