Research On The Impact Of Digital Economy On The Innovation Performance Of High-tech Industries

The growth rate and scale of digital economy of China have already ranked among the top in the world.Digital economy is developing rapidly during the corona pandemic,having effectively stabilized the economic downturn under the impact of the new crown epidemic,prompting the emergence of new technologies,new formats,and new models,and the digital economy is expected to become the engine of economic recovery again.Grasping the new opportunities of the digital economy and making full use of the technological dividends of the digital economy may become a new breakthrough in the development and innovation of China’s high-tech industry.This paper mainly studies and expounds the impact of digital economy on the innovation performance of high-tech industries from three aspects: direct mechanism,nonlinear transmission mechanism and indirect mechanism.According to the panel data of 30 provinces from 2011 to 2019,the development level of digital economy in different regions and provinces in different regions was measured by the entropy right method.Panel data model,nonlinear model and intermediate effects model are established.It is concluded that:(1)The level of development of China’s digital economy has significant heterogeneity in time(2)The development of the digital economy has positively promoted the improvement of the innovation performance of high-tech industries.This conclusion remains true by adding instrumental variables,substitution variables,and other control variables to the robustness test,respectively.(3)The effect of the digital economy on the innovation performance of high-tech industries is marginal,incremental and non-linear,and it is also manifested as an inverse U-shaped relationship.(4)The digital economy can also indirectly enhance the innovation performance of high-tech industries by improving the speed of human capital accumulation and the level of R&D investment;(5)The positive impact of the digital economy on the innovation performance of high-tech industries also has regional heterogeneity,and this impact effect is more significant and strong in the eastern,western and central regions,while the new dividends of the digital economy in the eastern and western regions are significantly higher than those in the central and northeastern regions.Finally,from the macro policy level,industry level,enterprise level to put forward countermeasures and suggestions.