Study On The Promotion Mechanism Of Electronic Commerce On Economic Growth

With the wide application of information technology and global popularity of the internet, E-commerce is playing an increasingly important role in the economy. The economic development promoted by E-commerce has caused widespread concern in the academic circles,business communities and government departments. Scholars have done a lot of researches on E-commerce from different perspectives, such as technology innovation and system innovation, information economy and network economy, logistics and supply chain management etc. But E-commerce is just a new business mode in the form, it has the same essence with the traditional business. They take money as a medium of commodities exchange with different technical measures. The new technology, especially the wide application of modern information technology brings many new features to the movement of the commercial capital. This study is based on Marx’s commercial capital theory. It analyzes the new characteristics of capital movement in the E-commerce environment and explores how E-commerce impacts on economic efficiency and economic variables. At the same time, this paper makes us reinterpretate Marx’s commercial capital theory below new historical requirement and offers the opportunities and conditions for the development of theory promotion and practice innovation.First, the paper uses Marx’s circulation costs theory and refers to transaction costs theory, information asymmetry theory, "Smith Theorem" and "Young Theorem" to compare the significant differences beween E-commerce market and traditional commerce market. Lower circulation costs and larger size of the market are the two important advantages of E-commence market. The reduction of circulation costs has a more profound internal cause, it is the result of organization or industry chain innovation in commercial, logistics and warehousing industries. At the same time, the explosive growth of the Internet business information significantly reduces the degree of information asymmetry and it is really good for establishing a more open, transparent and standardized modern global market. Further analysis shows that, E-commerce has greatly promoted the development of division of labor.The economic growth can be realized by the "division of labor development organization innovation— market size expansion" mechanism.Second, the paper uses Marx’s commercial capital theory to study the short term and long term influence E-commerce exerts on the average rate of profit.E-commerce can improve the average rate of profit in the short term, but because the organic composition of capital will increase, the average rate of profit in the long run will be depressed. E-commerce has hindered the decline of average rate of profit, and significantly reduced the social costs of circulation, so it can promote economic growth.Finally, this paper gives relevant policy suggestions to the development of E-commerce industry in China.The possible innovations of this paper may lie in: 1.Presently, the majority of the study on E-commence are based on technology innovation and system innovation, information economy and network economy, logistics and supply chain management etc. There are a few papers being based on Marx economics, especially Marx commodity management and capital theory. So the research perspective of this paper may be the first innovation.2. In the analysis of the influence E-commence exerts on the average rate of profit, the total social capital is divided into industrial and commercial capital to make a more specific discussion from the short term and long term dimensions. This may be the second innovation.