The Dynamic Mechanism of Data Factor Market Development:A New Analytical Framework
Based on the Wuli-Shili-Renli(WSR)methodology,this paper systemat-ically analyzes the influencing factors and mechanism of the development of China's data factor market,and constructs the system dynamics model of the development of the data factor market in China,combing with endogenous growth theory.Then three categories of seven policy scenarios are set up,through the allocation of fiscal spending in the three dimensions of Wuli,Shili and Renli,and policy scenario simu-lation is conducted to identify the optimal spending plan for the development of the data factor market.The major findings are as follows:1)China's data factor mar-ket has been entering the stage of rapid development,and it can promote economic growth and helps form a virtuous growth cycle,by empowering traditional produc-tion factors,accelerating the formation of human capital and technological innovation output,and increasing capital utilization efficiency;2)Under single-dimension policy scenarios,the"Wuli"mode namely increasing investment in infrastructure construc-tion is the most effective in promoting data factor market development and economic growth;3)Under the combined-dimension policy scenarios,the"Wuli + Shili"mode namely increasing investment in both infrastructure and institutional construction is the most effective mode to promote data factor market development and economic growth;4)The government is suggested to prioritize investment in infrastructure and institutional construction at the current stage to achieve better policy outcomes.
data factor marketsystem dynamicsWSR methodologyendogenous growth theorysimulation
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