Over-capacity is a persistent obstacle to high-quality development in manufacturing;in China,this is mainly caused by over-investment,caused by market failure,and local government intervention,both of which can lead to the distortion and misallocation of factor resources.Can the digital economy,as a driving force for economic development,improve the utilization of production capacity?What role does the mismatch of factor resources play in it?In attempting to answer these questions,this paper takes listed manufacturing companies from 2011 to 2019 to test the impact of digital economy developments on capacity utilization.The results show that(1)the development of the digital economy has significantly improved capacity utilization;(2)the digital economy can only significantly improve capacity utilization in the Eastern and Central regions of China,specifically in private small-and medium-sized companies;and(3)the regulatory mechanism shows that the misallocation of capital and labor weaken the de-capacity effect of the digital economy.To effectively reduce production capacity,the government should accelerate the development of the digital economy,deeply integrate it into manufacturing,and formulate policies based on the development needs of local economies.
关键词
数字经济/资本错配/劳动力错配/产能利用率/制造业高质量发展
Key words
digital economy/capital misallocation/labor misallocation/capacity utilization/high quality development of manufacturing
维普
万方数据