Data Elements and New Quality Productive Forces:A Perspective from Total Factor Productivity of Enterprises
The dilemma of being"large but not strong"in manufacturing and the inefficiency in the service industry have become one of the challenges facing China's industrial transformation and upgrading towards high-quality development.Over the past decade,a new round of technological revolution and industrial transformation has injected new vitality into productivity development.The innovative activities and knowledge dissemination involved in cutting-edge technologies and emerging industries have transcended the realm of traditional productivity reform.Especially when data becomes a factor,serving both as means of production and as objects of labor involved in production and transaction processes,it greatly enriches the types of means of production and labor objects,forming a new productive force characterized by the essence of renewing quality and achieving higher quality.This results in the coordination and unity of"quantity and quality"in productivity development.New quality productive forces,characterized by the improvement of total factor productivity(TFP),is centered on innovation,where data elements play a crucial role in enhancing both innovation levels and TFP.This study takes the national-level big data comprehensive pilot zone as a quasi-natural experiment.Based on panel data of manufacturing and service listed companies in China from 2009 to 2021,a difference-in-differences model is employed to identify the causal effects and mechanisms of data elements on enterprise TFP.The research findings indicate that data elements significantly enhance enterprise TFP,with a greater impact on TFP in the service sector compared to the manufacturing sector.This conclusion remains robust after a series of robustness checks.Mechanism analysis results suggest that data elements mainly exert an indirect impact on enterprise TFP through digital transformation and innovation.Moreover,the moderation effects indicate that industrial integration and data elements jointly play a significant role in improving enterprise TFP.The effect is not significantly different between moderate-level and high-level industrial integration areas,whereas it is not significant in low-level industrial integration areas.In order to fully leverage the role of new quality productive forces in enhancing total factor productivity,based on the findings of our research,we propose the following policy recommendations.Firstly,we should vigorously develop new quality productive forces and accelerate the digital transformation of enterprises.Secondly,we should accelerate the empowerment of traditional industries with new quality productive forces,promoting their transformation and upgrading through the widespread application of intelligent technologies and green technologies.Thirdly,we should adhere to the leadership of scientific and technological innovation in the development of new quality productive forces.
data elementsnew quality productive forcestotal factor productivityinnovationindustry convergence
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