The Impact Of The Coordinated Development Of The Real Economy And The Virtual Economy On The Development Of The Real Economy

Since the reform and opening up in 1978,China’s national economy has grown rapidly,and the real economy and virtual economy have also grown rapidly.In the early 21 st century,the growth rate of the total amount of the virtual economy exceeded that of the real economy for a long time.The proportion of the total amount of the virtual economy rapidly increased from 7.68% in 2002 to 14.10%in 2022.China’s national economy showed a clear trend of "detachment from reality to emptiness" between 2002 and 2021.The report of the 20 th National Congress of the Communist Party of China in 2022 once again emphasized that the focus of economic development should be on the real economy.This series of party reports is sufficient to prove the important position of the real economy in the current development of China’s economy.Therefore,this article starts from the degree of coordinated development between the real economy and the virtual economy,and studies the promoting effect of the coupling coordination degree of the virtual and real economy on the growth of the real economy.It attempts to find the impact of the coordinated development of the real economy and the virtual economy on the real economy in promoting the growth of the real economy,and makes a series of suggestions based on the results of empirical analysis.This article starts from measuring the degree of coordinated development between the real economy and the virtual economy.Based on a thorough reading of literature in the field of the real economy and the virtual economy,it fully understands the connotation of the real economy and the virtual economy,the interaction between the virtual economy and the real economy,and the influencing factors of the development of the real economy.Considering the rationality of indicator selection and the availability of data,this article establishes indicator systems for the real economy and virtual economy systems from two aspects: total scale and development level indicators.The entropy weight method is used to calculate the comprehensive development level of the real economy and virtual economy,and the coupling coordination degree model is used to calculate the coupling coordination scheduling of the virtual and real economy.Then use the coupling coordination degree measured above to establish an econometric model with the total amount of the real economy.Select the panel data of 31 provinces and cities in China from 2002 to 2021 to establish a benchmark panel model,a threshold panel model,a panel quantile model and a spatial econometric model,respectively,to study the nonlinear and spatial effects of the coupling coordination degree of the virtual economy on the growth of the total amount of the real economy.The empirical results indicate that:(1)The development level of the real economy and virtual economy in 31 provinces and cities in China has been tending towards coordinated development year by year,and the coordination degree of the coupling of virtual and real economy in different provinces and cities across the country has increased to varying degrees between 2002 and 2021.(2)There are regional differences in the coupling coordination degree between the real economy and the virtual economy,and there are significant regional differences in the average coupling coordination degree and change trend of the virtual and real economy in the four economic regions of East,Central,West,and Northeast China The coordinated development level of China’s real economy and virtual economy shows significant spatial autocorrelation and spatial clustering characteristics.From the results of the Moran index and Moran scatter plot,it can be seen that the provinces and cities in the eastern region of China exhibit a "high high clustering",while the provinces and cities in the western region exhibit a significant "low low clustering".(4)The coupling coordination degree of the virtual and real economy has a nonlinear effect on the development of the real economy.The coordinated development of the real economy and the virtual economy can significantly promote the growth of the real economy,and when the coordinated development level is higher,the marginal utility of its role in promoting the growth of the real economy will gradually increase.(5)The investment in scientific research and experimental funds can enhance the promoting effect of coordinated development between the real economy and the virtual economy on the growth of the real economy.When more research and experimental funds are invested,the coupling and coordination between the real economy and the virtual economy also have a stronger promoting effect on the growth of the real economy.Based on the empirical analysis results of this article,the following suggestions are proposed:(1)While developing the real economy,it should not suppress or hinder the development of the virtual economy,and more attention should be paid to the coordinated development of the real economy and the virtual economy.(2)Make full use of the coupling coordination degree of the virtual and real economy and the spatial aggregation effect of the total amount of the real economy,so that provinces and cities with coordinated and uncoordinated development of the virtual and real economy can learn from each other and help each other.In the form of "coordination first drives and then coordination",provinces and cities with serious imbalance in the development of the virtual and real economy can gradually move towards coordination,while promoting the growth of the real economy in that province and city Increase the investment in scientific research and experimental funds for industrial enterprises above designated size,apply technology investment to the development of the real economy,and improve the efficiency of scientific research funding in serving the growth of the real economy.