Digital Economy,Unified Domestic Market Construction,and Economic Growth
This article uses provincial-level panel data to empirically analyze the impact and underlying mechanisms of the digital economy on China's economic growth in the context of building a unified national market.At the micro level,the digital economy will delay the arrival of diminishing marginal returns,unleash production and consumption potential,reduce transaction costs,and improve the efficiency of enterprise production and operation.At the meso level,the digital economy promotes industrial organization upgrading through deep integration with traditional industries.Macroscopically,data,as a new type of factor,enters the production process,improving the productivity of factors such as capital and labor,and providing new impetus for economic growth.Research has found that the digital economy can significantly promote economic growth,but due to potential digital security risks,there is an inverted U-shaped relationship between the two.The results of multidimensional regression indicate that digital industrialization has the strongest promoting effect on economic growth,followed by digital infrastructure.On this basis,the construction level of a unified large market is measured by constructing a market potential index,and this is used as an intermediary variable to analyze the mechanism of the digital economy's impact on economic growth.The digital economy will empower China's economic growth by promoting the formation of a unified domestic market.Heterogeneity analysis shows that the promotion effect of the digital economy on economic growth varies in regions with different levels of marketization,number of policy releases,time periods,innovation capabilities,human capital levels,and resource allocation capabilities.The digital economy can"fill gaps"and"correct mismatches"in areas with poor resource endowments,thereby mitigating its negative impact on economic growth and possessing certain inclusive characteristics.The research findings provide empirical evidence and useful insights for promoting the construction of a unified large market and promoting economic growth.
digital economyeconomic growthunified domestic marketresource allocationmarket segmentation
NETL
NSTL
万方数据
