Research On The Impact Of Digital Economy On Residents’ Consumption Upgrading

Under the persistent fierce collision of digital technology on economic society,digital economy has increasingly become a key force to restructure industrial factor resources and reshape macroeconomic structure,especially in the "14th Five-Year Plan" period,China’s digital economy will move towards a new stage of deepening application,standardized development,and inclusive sharing.In the meantime,the government’s 14 th Five-year Plan calls for "accelerating the construction of a new development pattern with the major domestic cycle as the main body and the double domestic and international cycles promoting each other.".The upgrading of residents’ consumption is a vital starting point for building a new double-cycle development pattern.It emphasizes the need to create and lead new demand with innovation and high-quality supply,in order to improve the collocation degree of the supply system to domestic demand market.Against this background,it is of practical significance to study the effect of digital economy on residents’ consumption upgrading.On the basis of reviewing the literature which are in relation to digital economy and residents’ consumption upgrading,this paper firstly sorts out the influencing mechanism of digital economy on residents’ consumption upgrading from two aspects: within an industry and between industries,including three transmission paths: product innovation,rationalization of industrial structure and optimization of industrial structure;Secondly,referring to the current literature,this paper establishes and calculates the digital economy development indicators of 30 provinces in China from 2009 to2019,and then narrates in terms of the overall characteristics and development trend;Thirdly,based on China’s provincial panel data,an econometric model is established for empirical research,and the influence of digital economy on residents’ consumption upgrading is tested through robustness test and heterogeneity analysis.The study concludes as follows: first,digital economy puts an obviously positive effect on residents’ consumption upgrading.Second,digital economy has positive influence on product innovation,rationalization of industrial structure and optimization of industrial structure,and through which digital economy respectively puts a significant positive mediating effect on residents’ consumption upgrading.Furthermore,the positive effect of digital economy on residents’ consumption upgrading through rationalization and optimization of industrial structure is greater than that through product innovation.Third,there is obvious regional heterogeneity in the effect of digital economy on residents’ consumption upgrading,which shows the positive effect of digital economy on residents’ consumption upgrading in the eastern and central comprehensive economic zone is higher than the national level,while that in the western comprehensive economic zone is lower than the national level.Finally,according to the results of theoretical analysis and empirical research,this text presents relevant proposals for the government.