Research On The Impact Of Digital Economy On Green Innovatio

Under the extensive economic development model driven by investment and essential factors,our country’s economy has developed rapidly,but at the same time,resource and ecological issues have become increasingly prominent,and the green innovation that gives attention to both "green" and "innovation" has gradually attracted high attention from governments and scholars around the world.Under the background that China’s development entering the New Normal and the economy has changed from high-speed growth to high-quality development,the digital economy has brought new growth points to China’s economic development and become a new engine driving innovation.Therefore,under the dual development background of "digital" and "green",it is of great significance to deeply analyze the impact of the digital economy on green innovation for the realization of high-quality development of China’s economy.Firstly,this paper analyzes and sorts out the relevant literature of the digital economy affecting green innovation,and analyzes the mechanism of the impact of the digital economy on green innovation from the aspects of direct impact,transmission mechanism,threshold effect,and spatial spillover effect.Based on this,with the panel data of 270 prefecture-level cities in China from 2011 to 2020 as a sample,the principal component analysis method is used to measure the level of urban digital economy,and then the two-way fixed effect model is used to empirically analyze the impact of the digital economy on green innovation,and the empirical research results are endogenously processed and robustness tested.Then,the intermediary effect model and the regulatory effect model are used to analyze the indirect mechanisms of the digital economy affecting green innovation,subsequently,the threshold effect of the digital economy on green innovation is studied,and the heterogeneity analysis is conducted based on different geographical locations and different city sizes,finally,the spatial Dubin model is used to study the spatial spillover effect of digital economy on green innovation.The research results show that: First,the digital economy has significantly promoted the level of green innovation and passed the robustness test.Second,human capital,investment aggregation,and financial science expenditure play a mediating role in the process of digital economy affecting green innovation,while the environmental regulation plays a positive regulatory role.Third,the impact of digital economy on green innovation presents a threshold effect,under different levels of digital economy development,the promotion effect of digital economy on green innovation is different.Fourth,compared with the central and western cities,the green innovation effect of the digital economy is better in the eastern cities of China,and the promotion effect is more significant in megacities.Fifth,the digital economy has a spatial spillover effect on green innovation,and the indirect effect is greater than the direct effect.Accordingly,the following policy recommendations are put forward: First,improve digital infrastructure,promote high-quality development of the digital economy,and give full play to the green innovation effect of the digital economy.Second,the government should strengthen support for talent training,fixed assets investment,and fiscal science expenditure,so as to improve the effect of the digital economy on green innovation.Third,through formulating reasonable environmental regulation policies,environmental regulation can achieve the positive adjustment between the digital economy and green innovation.Fourth,formulate flexible green innovation development strategies according to the current level of digital economy development.Fifth,we should give preferential policies to the central and western regions and small cities.For the eastern regions and super-scale cities,we should focus on making breakthroughs in core technologies,optimize the environment for innovation,and promote the overall level of green innovation in China to a new level.Sixth,promote digital economy exchanges among cities,give full play to the spatial spillover effect of the digital economy,and improve the level of green innovation.