From Alleviate to Cure:How Digital Technology Overcomes Baumol's Disease?
Based on the perspective of"Solow Paradox",this paper constructs a multi-sector economic growth model to explain the internal mechanism of digital economy to overcome"Baumol disease",and uses the panel data of listed com-panies from 2007 to 2019 to conduct an empirical test.The research shows that:on the whole,the application of digital technology can help China enterprises improve their productivity,but as far as manufacturing enterprises are concerned,Solow Paradox still exists;At present,digital technology can alleviate"Baumol disease"by narrowing the efficiency difference between service industry and manufacturing industry,but it can't cure"Baumol disease".Heterogeneity test shows that the application of digital technology has different productivity enhancement effects in different regions,enter-prise factor density and industry service function types.Relying on the information infrastructure developed by digital technology and the advantages of market scale,China can seize the opportunity in the digital transformation of enterprises in the future and use the digital economy to cure"Baumol disease".This paper studies the key,foundation and expecta-tion of radical cure of"Baumol disease"to provide policy suggestions for China in the painful period of structural trans-formation to accelerate the overcoming of"Baumol disease"and realize the leap of economic growth.
digital technologybaumol's diseasesolow paradoxproductivityeconomic growth
万方数据
维普
