Research On The Impact Of Manufacturing Agglomeration On Economic Efficiency

As socialism with Chinese characteristics enters a new era and economic development enters the New Normal,the country’s economic development strategy has also changed from the initial focus on scale and speed to the current focus on quality and efficiency.Especially in the current era with high-quality development as the theme,the improvement of economic efficiency has become a new driving force and new direction of economic growth.As an important form of industrial spatial organization,manufacturing agglomeration has already played an important role in assisting economic development.Then,in the new era and the current New Normal,will its impact on economic efficiency show different new characteristics? Therefore,it is of great significance to re explore the impact of manufacturing agglomeration on economic efficiency in the context of the new era and the New Normal.Based on the basic characteristics and facts of China’s manufacturing agglomeration and economic development in the new era and the New Normal,this paper first analyzes the internal mechanism of the direct effect,indirect effect and spatial spillover effect of manufacturing agglomeration on improving economic efficiency from the theoretical level,and then on the basis of measuring and analyzing the current characteristics of manufacturing agglomeration and economic efficiency,using China’s inter provincial panel data from 2011-2021,We empirically tested the impact of manufacturing agglomeration on economic efficiency.The results show that:(1)manufacturing agglomeration has a significant direct role in promoting economic efficiency,and there is an inverted U-shaped nonlinear relationship between the two,while China is currently in the rising stage of the inverted U-shaped curve,and after the robustness test,this conclusion is true;(2)Heterogeneity analysis shows that the role of manufacturing agglomeration in promoting economic efficiency varies depending on geographical location,human capital level,and economic development quality.However,the inverted U-shaped nonlinear relationship between the two and the promoting effect of the former on the latter will not change as a result;(3)The mechanism test shows that manufacturing agglomeration can indirectly promote economic efficiency by promoting the upgrading of industrial structure and improving the level of regional innovation.Both of them play a part of the mesomeric effect in the process of manufacturing agglomeration promoting economic efficiency;(4)The spatial effect analysis shows that there is a significant spatial correlation between manufacturing agglomeration and economic efficiency in China’s provincial level,and there is a significant spatial spillover effect of manufacturing agglomeration on the improvement of economic efficiency.According to the above research conclusions,the government should scientifically plan the industrial layout of manufacturing industry and reasonably guide the development of manufacturing agglomeration to enable the improvement of economic efficiency in the new era and the New Normal.