How Digital Economy Promotes Entrepreneurship Development:Based on Macro and Micro Perspectives
Entrepreneurship is a crucial avenue for driving economic and social development,improving people's livelihoods.Stimulating innovation and entrepreneurial vitality across society holds significant importance for stabilizing and expanding employment,promoting shared prosperity,and propelling high-quality development.As Internet and big data technologies mature,our economy and society are gradually entering the era of the digital economy.This transformation brought about by the digital economy plays a vital role in optimizing factor allocation efficiency,advancing resource sharing among the entire population,and reshaping production and lifestyle.In particular,within the realm of business activities,the digital economy introduces new products and technologies,creating fresh competition in the market.It contributes to the expansion of employment opportunities and entrepreneurial prospects by deepening social division of labor and restructuring traditional business models.Therefore,in the era of the digital economy,leveraging its benefits fully,sustaining the momentum of mass entrepreneurship,and refining development models that are driven by entrepreneurship for employment remain pressing issues.Against this backdrop,this paper explores the impact mechanisms and theoretical logic of the digital economy on regional entrepreneurial development and individual entrepreneurial choices.It also analyzes the policy effectiveness of the digital economy,providing theoretical support for policy formulation.Based on the theoretical analysis of the impact of digital economy on entrepreneurial ecosystem and individual entrepreneurial choice,combined with China's actual development situation,this paper verifies the mechanism of digital economy promoting entrepreneurial transformation from the macro and micro levels.At the macro level,panel data of 280 prefecture-level cities from 2011 to 2020 are used,while at the micro level,data of China Labor Dynamics Survey(CLDS)in 2018 are used.The empirical results show that at the macro level,digital economy can significantly promote the development of regional entrepreneurship,optimize the structure of regional entrepreneurship,and promote the transformation and upgrading of traditional entrepreneurship.This conclusion is still valid after the robustness test and the endogeneity problem.At the micro level,digital economy can significantly influence individual entrepreneurial choice and stimulate regional entrepreneurial activity,and the promoting effect still exists significantly after the robustness test.Heterogeneity analysis shows that the digital economy has regional heterogeneity and human capital heterogeneity on entrepreneurial development,and the eastern and central regions and groups with high human capital are more strongly and significantly affected by digital economy.Mechanism identification reveals that improving business environment and easing credit constraints are important ways for digital economy to enable traditional entrepreneurial transformation,and the credit constraints easing effect is relatively stronger.The expansion study found that the pilot policy of"Broadband China"has significantly improved the entrepreneurial development level of the pilot cities,and the effectiveness of the policies related to digital economy has been fully verified.Based on the research conclusions,the following policy implications are drawn:First,strengthen the construction of digital infrastructure,release the dividends of digital economy,and build a digital entrepreneurial ecosystem.Second,the establishment of digital platforms for information publicity,in-depth use of digital regulatory means,improve the urban business environment.Third,with the help of digital inclusive finance,the coverage of financial services should be enhanced,the depth of digital financial products should be enriched,and the constraints on credit financing should be eased.Fourthly,we should focus on supporting the development of digital economy in underdeveloped areas,formulate preferential policies and supportive measures,and bridge the gap between regions in the role of digital economy.At the same time,we should constantly strengthen the cultivation of digital literacy,cultivate and introduce digital economy talents,form digital human resources system,and enhance the innovation ability of digital economy.
digital economyentrepreneurship developmentbusiness environmentcredit constraint
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