Research On The Impact Of Digital Economy On Industrial Structure Optimization And Upgrading

With the vigorous development of information technology,the digital revolution is sweeping through the entire economic system at an unprecedented speed,making the entire worldwide mode of production digitally transformed.As a more advanced and sustainable new economic form,the digital economy is of great strategic significance in promoting the optimization and upgrading of industrial structure and achieving highquality economic development.In recent years,China’s industrial structure upgrading has been optimized to a certain extent,but there is still a significant gap compared with developed countries,which is highlighted by the slow optimization and upgrading of industrial structure,the unbalanced development of inter-regional industrial structure,the high cost of traditional industries,low resource utilization and extensive production methods under environmental resource constraints,and the urgent need to move towards high-quality sustainable development.On the other hand,the digital economy will promote the upgrading of the consumption structure through channels such as income effect,market effect,credit constraint mitigation effect and consumption concept improvement effect,etc.In the face of changes and upgrades in the scale structure of consumer demand,the producer will certainly make corresponding adjustments to better meet the needs of consumption structure upgrading,and ultimately lead to in-depth adjustment and optimization of the industrial structure.Therefore,it is necessary to analyze the impact of the digital economy on the optimization and upgrading of the industrial structure based on the actual situation in China,based on the perspective of consumption structure upgrading,and the intermediary effect of consumption structure upgrading in the process of promoting the optimization and upgrading of industrial structure in the digital economy.This is of certain enlightening significance for macroeconomic policy makers to accurately grasp the impact and implementation effect of the digital economy,fully understand the impact of the digital economy on the optimization and upgrading of the industrial structure,and objectively evaluate the role of consumer consumption behavior choices(such as consumption structure upgrading)in industrial investment decision-making and structural adjustment.To this end,this paper constructs a digital economy measurement index system based on three dimensions: digital infrastructure,digital industry development,and digital economy application,and uses the entropy method as an objective empowerment method to comprehensively evaluate the development level of digital economy in various provinces,and analyzes the status quo and characteristics of digital economy development based on the measurement results.Then,based on the panel data from2011 to 2020 in China,this paper constructs a fixed-effect model to study the impact of the digital economy on the optimization and upgrading of industrial structure.In order to further investigate the mediating effect of consumption structure upgrading in the digital economy to promote the optimization and upgrading of industrial structure,this paper conducts relevant tests by stepwise regression method and Bootstrap test method.In addition,considering that under the conditions of different innovation efficiency and different regions,the impact of the digital economy on the optimization and upgrading of industrial structure may have different performances,and the corresponding heterogeneity analysis is carried out.In order to make the obtained research conclusions more reliable,this paper uses the measurement index of the consumption structure upgrade of the replacement intermediary variable to alleviate the error caused by the selection of the index,and re-examines the basic conclusion by adjusting the sample period,and at the same time uses the instrumental variable method and the digital economy lag phase I as the core explanatory variable method to test the potential endogenous problems between the digital economy and the optimization and upgrading of the industrial structure.The results of the study show that:(1)The digital economy has a significant role in promoting the upgrading and optimization of industrial structure.Specifically,the development of China’s digital economy during the sample period has a significant role in promoting the upgrading and rationalization of the industrial structure,but compared with the rationalization effect of the industrial structure of the digital economy,the promotion effect of the digital economy on the upgrading of the industrial structure is more obvious.The possible reason is that the promotion effect of the digital economy on the rationalization of the industrial structure mainly comes from the optimization of the resource allocation effect of the digital economy,that is,the digital economy reduces the information asymmetry and makes the resource allocation function of the market more significant,but the market adjustment is a kind of after-the-fact adjustment,with a certain lag,and digital technology can directly promote the advancement of the industrial structure,which is a direct driving force.Therefore,compared with the rationalization of industrial structure,the effect of digital economy on the advancement of industrial structure will be more obvious.(2)The upgrading of consumption structure has played a part of the intermediary role in promoting the optimization and upgrading of industrial structure in the digital economy,and the intermediary effect of consumption structure upgrading between the digital economy and the upgrading of industrial structure accounts for 25.32%,and the intermediary effect of consumption structure upgrading between the digital economy and the rationalization of industrial structure accounts for 16.93%.The possible reason is that the income effect,market effect,credit constraint mitigation effect and consumption concept improvement effect produced by the digital economy will bring about the deep adjustment of consumer consumption behavior choices,promote the upgrading of consumption structure,and as a supply-side industry,in the face of changes and upgrades in the scale structure of consumer demand,it will generally make corresponding adjustments to better meet the needs of consumption structure upgrading,and eventually lead to the in-depth adjustment and optimization of the industrial structure.The role of consumption structure upgrading in the digital economy in the upgrading of industrial structure is greater than the role of industrial structure rationalization,which may be due to the possible market segmentation effect of skills in the labor market,which hinders the flow of labor between industries.(3)The impact of the digital economy on the optimization and upgrading of industrial structure is heterogeneous in different innovation efficiencies and industries in different regions.Compared with provinces with high innovation efficiency,the promotion effect of the digital economy in provinces with low innovation efficiency on the upgrading of industrial structure and the rationalization of industrial structure is more obvious;from the perspective of the results of sub-regional regression,the promotion effect of digital economy on the upgrading of industrial structure is significant in three regions,but the western region is the most significant,the central region is second,the eastern part is relatively smaller,and the promotion effect of the digital economy on the rationalization of industrial structure is also significant in the three major regions,but the western region is the most significant,the central region is second,and the eastern part is relatively smaller.From this perspective,the digital economy can promote the coordinated development of china’s region to some extent.The possible reason is that the digital economy promotes the networking and informatization of innovation resources,which is conducive to regional collaborative innovation and cross-regional technology diffusion effect,and the dividends of the development of the digital economy in the eastern region are shared by the central and western regions.At the same time,the level of industrial development in the eastern region of China is relatively high,and there are higher requirements for the development level of digital economy.Based on the above conclusions,this paper puts forward the following policy recommendations from the two levels of government and enterprises.(1)Government level.On the one hand,the government should vigorously promote the development of the digital economy,attach importance to the research and development of digital core technologies and the construction of digital infrastructure,and provide technical support for the optimization and upgrading of the industrial structure;on the other hand,the government should optimize the consumer market environment,stimulate the vitality of the consumer market,give full play to the intermediary role of the upgrading of the consumption structure in the process of promoting the upgrading of the industrial structure of the digital economy,and drive the high-quality development of the industry with the help of the upgrading of the consumption structure;In addition,the government can promote the promotion of the high-quality development of the industry by establishing an information sharing platform and building a technology transfer service network."Government-useindustry-university-research-capital cooperation promotes regional collaborative innovation,and then promotes coordinated regional development.(2)Enterprise level.On the one hand,in the process of digital transformation,enterprises should pay attention to the recruitment,training and utilization of relevant digital talents,enhance digital capabilities,and then improve the core competitiveness of enterprises,and better realize the development of digital economy and the optimization and upgrading of industrial structure;on the other hand,enterprises should focus on value benefits,improve the added value of products,and innovate based on market demand,so that the optimization and upgrading effect of the industrial structure of the digital economy is maximized.