Digital Technology,Supply Chain Spillover Effects and Enterprise Growth
Digital technology profoundly changes the real economy,which is worth further studying whether there is a supply chain spillover effect when local governments and other economic entities promote the digital economy development.This article constructs a two-sector general equilibrium model with input-output relationships to explore the impact and mechanism of promoting digital technology development of regions where customers and suppliers are located on enterprises'outputs.Based on this,we propose theoretical models and hypothetical mechanisms used for empirical testing.The results show that:(1)Promoting the digital economy in customer or supplier regions significantly boosts enterprise growth,with supply chain spillover effects contributing about 20％.The mechanism lies in that digital economic development in customer regions mainly improves enterprise total factor productivity and alleviates financing constraints,thereby driving enterprise output growth,while the level of digital economic development in supplier regions only improves enterprise total factor productivity and drives output growth.(2)Heterogeneity analysis shows that the supply chain spillover effect of digital technology is more evident in non-state-owned enterprises,midwestern enterprises,and enterprises with uncertain external environments.(3)Further research finds that digital technology shortens the spatial distance,and the further away the geographical distance between upstream and downstream enterprises,the more significant the role of digital technology.This study provides policy references for how to improve the supply chain construction in the digital economy era and promote high-quality economic development.On one hand,it is imperative to encourage suppliers to advance digital technological innovation and application,facilitating the structural upgrade of intermediate products and precisely uncovering market demands.On the other hand,it is crucial to guide customers in overcoming information barriers at various stages,ensuring timely feedback on input demand fluctuations,thereby achieving resource sharing among enterprises along the supply chain.
digital economicdigital technologiessupply chain spillover effectsenterprise growth
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