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| Has Development of Digital Economy Enhanced Regional Innovation Capability:Based on Spatial Econometric Analysis of Yangtze River Economic Belt |
| Xu Hui1,2,Qiu Chenguang1 |
| （1.School of Economics and Management,Yangtze University; 2. Hubei Rural Development Research Center，Yangtze University ，Jingzhou 434023, China） |
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Abstract Cross-border cooperation and innovative development of digitalization and informatization have brought the world into an information-driven era with comprehensive penetration. Digital economy plays an important role in reshaping the pattern of economic growth, changing the way of production and life, and promoting China's innovation and development. According to the strategic layout of innovation-driven development in China, digital economy is of great strategic significance for promoting the deep integration of industrialization and informatization, promoting the innovation of emerging technologies in various fields and optimizing the layout of regional innovation. In China's major regional strategies, the Yangtze River Economic Belt covers the provinces from coastal to inland horizontally, which can be regarded as the epitome of the development of the three major regions in China to a certain extent. The construction of the Yangtze River Economic Belt is conducive to building a new pattern of mutual support and benign interaction between coastal areas and central and western regions. Therefore, this paper takes the Yangtze River Economic Belt as the research area, discusses the influence mechanism of digital economy development on the promotion of regional innovation capability and makes an empirical test to verify the impact of digital economy on regional innovation, aiming at promoting the coordinated development of innovation in the Yangtze River Economic Belt, optimizing the regional innovation layout and building an innovative economic belt. This paper puts forward some useful suggestions for the integrated development of China's Yangtze River Economic Belt and building a regional innovation community.#br#By combing the research results of scholars at home and abroad, this paper finds that scholars' research on digital economy mainly focuses on its development process, characteristics, influencing factors, theoretical mechanism, development path and so on, and most of them are qualitative analysis. In the development of digital economy and regional innovation, a small number of scholars have verified the importance of spatial analysis, but there are few studies using spatial econometric models. Therefore, this paper adopts spatial measurement method to study. Then in the selection of indicators, the evaluation system of digital economy is constructed and measured by factor analysis as the core explanatory variable. Regional innovation is divided into two aspects: technological innovation and product innovation, which are regarded as explanatory variables respectively. The control variables are economic development level, scientific research investment, talent investment and foreign investment. Next three matrices of adjacency, geographical distance and economic distance are constructed from the spatial level. Based on the panel data of 11 provinces and cities in the Yangtze River Economic Belt from 2008 to 2018, Moran test is carried out on the spatial correlation of explained variables and explanatory variables. Through the Spatial Durbin Model, this paper makes an empirical analysis on the impact and spillover effect of digital economy development on regional innovation. #br#The conclusions of this paper are as follows. The development of digital economy can significantly improve the provincial level of technological innovation and product innovation, and it is the core driving force to promote regional innovation and development. However, affected by the characteristics of digital economy development stage, its impact on inter-provincial innovation and development is not significant, and it has a significant negative impact under some matrices. Talent investment can directly promote the development of technological innovation within and between provinces, while the promotion of innovation ability by scientific research investment is more reflected in product innovation, indicating that capital and talents contribute differently at different stages of innovation and development. The spillover effect of digital economy development on technological innovation is greater than that of product innovation, which shows that digital economy has stronger radiation driving ability at the level of technological innovation. It is of great significance to stress knowledge spillover in the process of technology research and development and strengthen technical cooperation for the coordinated development of regional innovation.Therefore, it is suggested to strengthen regional technical connections and resource sharing, and break down the barriers to regional innovation and development of the digital economy, optimize the allocation of resources, and implement accurate investment of innovative resources, promote the construction of new infrastructure and improve the application level of digital economy, so as to enhance regional innovation capability.#br#
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Received: 13 April 2021
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