Research On Digital Economy Enabling Global Value Chain Upgrading Of Manufacturing Industry In Yangtze River Delta

At present,the world is undergoing great transformations once in a century.Major economies have begun to partially decouple from each other as a result of major power competition,and there are signs of disruption and restructuring of the global supply chain.At the same time,the new round of technological revolution is also promoting the evolution of global value chain governance structure,creating opportunities for latecomer countries to break through restrictions and blockages.It can be seen that political factors and technical factors jointly promote the reconstruction of global value chain towards the direction of complexity and diversity.For China,the new round of technological revolution brings the historical opportunity of "overtaking the curve",which can foster the new drivers of China’s economic development,facilitate the realization of high-quality economic development,break the dilemma of "low-end lock" and "double squeeze" faced by China’s manufacturing industry,and thus promote the status of China’s manufacturing industry in the global value chain restructuring.In particular,the Yangtze River Delta region has a good manufacturing foundation and the development momentum of digital economy.As the highland of China’s digital economy development,the influence mechanism and effect of the digital economy in the Yangtze River Delta region on the status upgrading of the global value chain of the manufacturing industry can provide a good reference for how to better play the potential of the digital economy.Therefore,this paper takes 41 cities in the Yangtze River Delta as the research object,combines corresponding theoretical principles,and discusses the impact of digital economy on the global value chain upgrading of the manufacturing industry in the Yangtze River Delta through theoretical analysis,panel regression,spatial metrology and other methods.This paper firstly combs the relevant research basis,defines the concept and introduces the theoretical principles.Then,using the basic principles of new structural economics and factor endowment structure as the entry point,this paper analyzes how digital economy promotes the upgrading of endowment structure,analyzes the changes of endowment structure and production structure brought by digital economy,and reveals the internal logic of digital economy promoting economic development.Then,based on the theory of global value chain upgrading,this paper expounds the theoretical mechanism of digital economy affecting the global value chain upgrading of manufacturing industry.Then,based on the micro-trade data,the quality of manufacturing export products and export sophistication of cities in the Yangtze River Delta are calculated respectively,and the position of manufacturing industry in the global value chain is represented from these two dimensions.Finally,the paper makes an empirical analysis from two dimensions: the fixed-effect model is used to analyze the role of digital economy in the status upgrading of manufacturing global value chain,and the instrumental variable method and system GMM method are used to test;The panel quantile model is used to analyze the change of marginal effect of digital economy;Spatial Dubin model is used to analyze the spatial spillover effect of digital economy;The intermediary effect model is used to analyze how the digital economy affects the global value chain upgrading of the manufacturing industry in the Yangtze River Delta.This paper finds that digital economy has a significant effect on improving the quality of export products and the complexity of export technology in the Yangtze River Delta manufacturing industry,and promoting the level of technological innovation,improving product production efficiency and optimizing resource allocation are three functional channels for digital economy to play its role.However,the role of each channel is different,and the mediating role of technological innovation level,product production efficiency and resource allocation efficiency is close to that of manufacturing export product quality.For the technological complexity of manufacturing export,the mediating effect of resource allocation efficiency and technological innovation level is larger,while the mediating effect of product production efficiency is smaller.In addition,the digital economy plays a spillover effect in the process of promoting the status of the manufacturing industry in the global value chain,while the marginal effect of the digital economy tends to decline.According to the analysis results of this paper,the following policy recommendations are put forward:(1)vigorously promote the industrial digitization process to create new manufacturing advantages;(2)Break through the plugging points of key technologies in the value chain to accelerate technology diffusion and dissemination;(3)Promote the interconnected development of industries among regions and build the industrial ecosystem of digital economy;(4)Focus on building regional value chain,deeply embedded in each regional value chain cycle;(5)Take an active part in global value chain governance and enhance global value chain leadership.