Research On The Impact Of Digital Economy On Industrial Is-Based On Total Factor Growth Rate And Transaction Costs

The Fifth Plenary Session of the 19th CPC Central Committee emphasized the importance of industrial upgrading,and the digital economy,with its strong penetration and nearly destructive creativity,enables the three industries to trigger momentum change and bring opportunities for industrial upgrading.On the one hand,digital economy promotes the development of emerging industries with advanced technologies and injects new momentum into industrial development.On the other hand,digital economy provides support for the digital transformation of traditional industries with its technical characteristics,and helps traditional industries to optimize their production mode,organizational form and industrial form.In order to better promote industrial upgrading,we must give full play to the advantages of digital economy and deepen the integration of digital economy and real economy.On the basis of defining the connotation of digital economy and industrial upgrading,this paper analyzes the effect of digital economy on our industrial upgrading from the perspective of action mechanism.Based on endogenous growth theory and transaction cost theory,it tries to construct Schumpeter’s endogenous growth theory model of three sectors: general product sector,final product sector and intermediate product sector.Based on the perspective of total factor growth rate and transaction cost,this paper expounds the impact of digital economy on industrial upgrading.With the development of digital economy,total factor growth rate will increase,thus promoting the "renewal" of products and productivity improvement,which not only effectively promotes industrial upgrading,but also facilitates the integrated development of industries and promotes the development of new business forms.In addition,the digital economy also has an impact on the organization,operation,structure and other aspects of enterprises,so the discussion of transaction costs is introduced.The improvement of the level of digital economy reduces the search cost between the intermediate department and the final department,improves the matching efficiency and management efficiency,thus reducing transaction costs and promoting industrial upgrading.In the empirical aspect,this paper selects 11 specific indicators based on three levels of informatization development,Internet development and digital transaction development,and uses entropy-Topsis method to measure the digital economy development index of 30 provinces and cities(excluding Xizang)during 2015-2020.At the same time,the industry rationalization and industry upgrading index of each province are calculated and analyzed.Based on the above calculation results,this paper adopts the provincial panel data from 2015 to 2020 to make an empirical analysis of the impact of digital economy on industrial upgrading by using the fixed effect model,and verifies the mediating effect of total factor growth rate and transaction cost between digital economy and industrial upgrading by using the three-step test method and bootstrap test method.The results show that: 1.Digital economy has a significant role in promoting industrial rationalization and industrial upgrading.2.The development of digital economy will increase the total factor growth rate and ultimately promote the advanced development of the industry.3.The development of digital economy is conducive to reducing transaction costs,thus promoting industrial upgrading and industrial rationalization.