How does Digital Technology Enhance Value Chain Stability:Also on the Impact of Digital Technology from Different Input Sources
Against the backdrop of the rapid development of the digital economy and the risk of"broken chain"and"stuck chain"in the domestic value chain,this paper delves into how digital technology empowers the stability of China's value chain.Based on China's multi-region input-output table and the world input-output table,this paper constructs an embedded world input-output table covering 21 industries of 31 provinces in China and 62 countries or regions in the world,and on this basis,it constructs an index system from the perspectives of production factor input and value-added fluctuations to measure digital technology and value chain stability at the level of province-industry.This paper also theoretically analyzes and empirically tests the impact of digital technology on value chain stability,expanding to examine the heterogeneity of the impact of digital technology on value chain stability in different factor source regions,different factor source industries,and different factor source regions-industries.It is found that:First,digital technology significantly empowers value chain stability mainly through two ways:enhancing production efficiency and diversifying the supply of intermediate goods.Second,digital technology in central and western provinces and southern provinces better enhances value chain stability,and digital technology in the manufacturing sector better promotes value chain stability.Third,digital technology from outside the province and from the service industry has a stronger role in enhancing value chain stability.Policy implications are that:First,fully explore the development potential of digital technology,vigorously develop the digital economy,and give full play to the positive role of digital technology in maintaining value chain stability.Second,actively improve production efficiency and diversify the supply of intermediate goods to promote value chain stability.Third,strengthen the cross-regional flow of digital production factors,build a unified domestic market,and improve the efficiency of resource allocation.Fourth,encourage the upgrading of manufacturing services to maintain value chain stability.This paper is of great practical significance for integrating economic development and security,accelerating the construction of a new development pattern,and promoting high-quality and steady economic development.
digital technologyvalue chain stabilityproduction factorsvalue-added fluctuationsinput-output table
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