The Impact And Spatial Effect Of The Development Of Digital Economy On Total Factor Productivity

Improving total factor productivity is an endogenous driving force for sustainable economic development.In recent years,the common application of information technology has spawned a new economic form of "digital economy",which provides more possible channels for economic growth,so it is crucial to explore the relationship and mechanism of action between the two.At present,most of the research on the digital economy focuses on the evaluation of indicators and factors of the digital economy,and lacks the analysis of the intrinsic relationship between digital development and economic growth.Designing the evaluation method of the digital economy based on the perspective of improving the yield of total factor production and quantitatively analyzing its mechanism has important theoretical value and practical significance for China’s digital economy to empower traditional industries and promote China’s economy to leap from quantity to quality.In this paper,taking the panel data of 29 provincial-level administrative regions in China from 2011 to 2019 as a research sample,the level of digital economy development and total factor productivity are measured and analyzed by the principal component analysis method and the DEA-Malmquist index method,respectively.On this basis,combined with the theoretical basis related to it,the influencing factors and mechanisms of the digital economy on total factor productivity are discussed.Finally,the spatial Durbin model is used to analyze the direct effect,spatial spillover effect and heterogeneity analysis of the impact of the digital economy on total factor productivity,and the rationality of the model is verified.This paper uses the panel data of 29 provincial administrative regions in China from 2011 to 2019 as the research sample,and uses the principal component analysis method and the DEA-Malmquist index method to measure and analyze the development level and total factor productivity of the digital economy respectively.On this basis,according to the relevant theories of the evolution of total factor productivity,the influencing factors and mechanism of the digital economy on total factor productivity are discussed.Finally,the spatial Durbin model is used to analyze the direct effect,spatial spillover effect and heterogeneity of the impact of the digital economy on total factor productivity,and the rationality of the model is verified.From both theoretical and empirical aspects,the following conclusions are drawn:(1)The digital economy can increase total factor productivity by broadening financing channels,optimizing the financing environment,alleviating information asymmetry,and thus expanding the scale of finance.(2)The digital economy can promote the growth of total factor productivity by accelerating industrial technological innovation,improving the efficiency of factor allocation,improving the efficiency of production scale,and then upgrading the industrial structure.(3)The digital economy can promote the growth of total factor productivity by optimizing the consumption structure,expanding the scale of consumption,alleviating consumer credit,and thus increasing the level of consumption.(4)The development of the digital economy has a positive local effect and spatial spillover effect on total factor productivity,that is,the development of the digital economy has a promoting effect on the total factor productivity of the region,and also helps to improve the total factor productivity of neighboring provinces.(5)Compared with technological progress,the development of the digital economy mainly improves total factor productivity by improving technological efficiency.(6)Compared with the eastern region,the digital economy has a greater impact on the technological efficiency and even total factor productivity of the central and western regions.The results of this paper show that compared with the traditional econometric model method,the empirical analysis based on the spatial Dubin model can better explore the interaction between the development of the digital economy between provinces and technology progress,technological efficiency and total factor productivity,which helps to reveal the internal mechanism of the impact of the digital economy development on total factor productivity,and provides a decision-making reference for the formulation of innovation policies in China.