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| The Development of Digital Economy and the Improvement of High-tech Industry Innovation Efficiency：Empirical Test Based on China's Provincial Panel Data |
| Yuan Huiwen,Gao Bo |
| (School of Economics, Nanjing University, Nanjing 210093,China) |
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Abstract In recent years, the Sino-US trade friction has been escalating, and China's high-tech industry has been affected and contained to varying degrees, posing a threat to the national industrial security and development. After the 19th National Congress of the Communist Party of China, China's economy has shifted from high-speed growth to high-quality development. It has become a new driving force to improve the innovation efficiency of high-tech industries for Chinese economic growth, and an inevitable choice to achieve high-quality economic development.#br#China is in a critical period of transformation of its development mode. The vigorous development of the digital economy has injected new vitality into the high-quality development of the economy. It helps to transfer into the intelligent model by using the digital economy to expand the development space of the real economy. Under the guidance of the innovation-driven development strategy, as a new driving force for high-quality development, the digital economy can give full play to its own advantages, strengthen the sharing and cooperative relationship between high-tech enterprises, reshape the traditional production organization of enterprises, and use digital technology to optimize resource allocation, reduce production costs, further improve the level of automation and intelligence in high-tech industries, and promote the healthy development of digital industrialization and industrial digitalization. This is not only conducive to the optimization and upgrading of the industrial structure, but also brings new opportunities for the high-quality development of national economy.#br#This paper uses the provincial panel data from 2013 to 2019 to construct an evaluation index system for digital economy development, and uses the stochastic frontier model to measure the innovation efficiency of high-tech industries. It is found that first, the development of the digital economy can significantly improve the innovation efficiency of high-tech industries, and has a continuous impact on it, but as the lag period increases, this continuous impact will gradually weaken and disappear. Secondly, the development of digital economy can effectively stimulate entrepreneurship, promote the upgrading of industrial structure, and the improvement of innovation efficiency of high-tech industries. Thirdly, there are significant regional and industry heterogeneity in the impact of digital economy development on the innovation efficiency of high-tech industries. In terms of regional heterogeneity, the development of digital economy in eastern and western regions can effectively promote the improvement of innovation efficiency of high-tech industries, while the development of digital economy in central and northeastern regions has less impact on the innovation efficiency of high-tech industries; in terms of industry heterogeneity, the development of the digital economy has a significant negative impact on the innovation efficiency of the pharmaceutical manufacturing industry, medical equipment and instrumentation manufacturing, and has no significant impact on the innovation efficiency of the computer and office equipment manufacturing industry, but it can effectively promote the innovation efficiency of the electronics and communication equipment manufacturing industry. Finally, the impact of the digital economy on the innovation efficiency of high-tech industries is characterized by a threshold effect. Among them, there is an optimal boundary in the process of the digital economy affecting the innovation efficiency of high-tech industries, and the general public budget expenditure and the total transaction volume of technology contracts will be slightly weakened. The more fully developed the expenditure and the average sales price of commercial housing, the more likely it can enhance the effect of digital economy development on the innovation efficiency of high-tech industries. The influence of per capita consumption expenditure of residents is relatively weak, indicating that consumption is still driving economic growth. Development space and consumption upgrade is an important path to achieve high-quality development.#br#It's suggested to firstly adhere to the combination of market and macro-control to allocate digital resources,use digital platforms to integrate industrial chain resources. and jointly explore the application fields of scientific research results and the effective market demand; secondly we should cultivate entrepreneurial spirit, strengthen the protection of the legitimate rights and interests of entrepreneurs, and create a good environment for innovation and entrepreneurship; thirdly different regions should reasonably evaluate their own industrial development level and actively promote inter-regional cooperation and exchanges; finally, we should pay more efforts to speed up the breakthrough of technical barriers, realize the re-integration of upstream and downstream enterprises in the industrial chain, and ultimately achieve an effective improvement in the innovation efficiency of high-tech industries.#br#
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Received: 02 September 2021
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