The Impact of the Digital Economy on the Development of China's Manufacturing Industry
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The Impact of the
Digital Economy on
the Development of
China's Manufacturing
Industry
Yingying Wang and Yuxin Li*
School of Economics and Management,
Beijing University of Posts and Telecommunications,
Beijing, China
Email: wangyy@bupt.edu.cn
Received: 15 December 2022;
Accepted: 10 January 2023;
Published: 20 January 2023
Abstract
With the rapid development of digital technology, the digital economy has become an important driving force for economic growth. This paper explores the impact of the digital economy on the development of China's manufacturing industry. Using panel data from 2010 to 2020, we find that the digital economy significantly promotes the upgrading of the manufacturing industry. The mechanism analysis shows that the digital economy enhances the efficiency of resource allocation and technological innovation in the manufacturing sector. Furthermore, the positive effect is more pronounced in regions with better infrastructure and higher levels of human capital. These findings provide valuable insights for policymakers aiming to leverage the digital economy to boost industrial transformation.
Keywords
Digital Economy; Manufacturing Industry; Industrial Upgrading; Technological Innovation