Research On The Impact Of Data Elements On Economic Growth

In 2020,the Central Committee of the Communist Party of China and the State Council issued the "Opinions on Building a More Perfect Factor Marketization Allocation System and Mechanism",which for the first time summarized data as a new type of production factor.Therefore,studying the value of data factors and their impact on economic growth is of great significance for the high-quality development of China’s economy in the future.From the perspective of cost input,this article constructs a data element value measurement index system,uses the perpetual inventory method to calculate the national and provincial data element value stock from 2013 to 2020,and analyzes the distribution of the national and provincial data element value stock based on the calculation results.On this basis,based on the Growth accounting framework,the contribution of various input factors to China’s total economic growth(GDP)from 2013 to 2020 is decomposed,and the impact of data element inputs on provincial GDP is analyzed.Next,this article constructs a panel model and uses relevant data such as data input from30 provinces in China from 2013 to 2020 to further empirically analyze the impact of data input on economic growth efficiency(TFP).Research has found that,firstly,from the perspective of the stock of data element values,China has a large and stable stock of data element values.The stock of data element values has increased from 6.4592 trillion in 2013 to 12.1557 trillion in 2020.From the perspective of the total value of data element values alone,it can be seen that data elements play an undeniable role in the domestic economic and social development,but the distribution of data element stocks among provinces is still uneven,There is a significant gap in the value stock of data elements in China’s eastern,central,and western regions,with some regions in the eastern region having a significantly higher value stock than those in the central and western regions;Secondly,from the perspective of the impact of data factor input on total economic growth(GDP),compared to traditional factor input,the impact of data factor input on China’s GDP is still at a relatively low level.The contribution rate of data factor input to China’s GDP growth increased from 1.45% in 2013 to 9.7% in 2020,with some twists and turns in the middle,but the overall trend is on the rise.The contribution rate of data factor input to regional GDP growth in the eastern region is relatively large,However,the contribution rate of data element investment to regional GDP growth in the western region is relatively low,and even shows negative growth;Thirdly,from the perspective of the impact of data elements on economic growth efficiency(TFP),data element input has a significant promoting effect on economic growth efficiency(TFP).The impact of data element input on economic growth efficiency in the eastern,central,and western regions of China is significantly positive,but the impact of data element input on economic growth efficiency(TFP)in the western region is greater than that in the eastern and central regions.Based on the above conclusions,this article proposes the following countermeasures and suggestions: each region should maintain corresponding data element inputs according to the needs of regional economic development;Regions should actively promote the coordinated development of data elements and narrow the development gap between regions;Emphasize the integration of data elements with traditional economy,and leverage the value of data elements.