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| The Impact of Digital Economy Development on the Global Value Chain Resilience of Productive Services |
| Li Jing,Zhou Meichen |
| (Institute of Marxism,Jilin University,Changchun 130000,China) |
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Abstract As a strategic pacesetter for global industrial competition, the productive service industry plays a crucial role in leading the industry to break through the low-end lock-in dilemma of developed countries and upgrade towards the high end of the global value chain. However, in reality, the productive service industry in China has a relatively low share in the global market and is still in its early stages of development. In light of this context, it is of great practical value for solving the imbalance of the external trade structure and improving the added value of exported products and services to accelerate the advancement of China's productive service industry towards the high end of the global value chain and enhance the resilience of the productive service industry in the global value chain. In recent years, the digital economy has gradually become an important form of social transformation, for it has been effectively penetrating the entire industrial chain of productive services, reshaping the international industrial division of labor patterns, and promoting the resilience improvement of China's global value chain of productive services. Then, what is the effect of the digital economy and its subdimensions on enhancing the resilience of the global value chain in productive services? Does it have a sustained impact? What is the pathway through which it works? Is there a situation of heterogeneous impact? Exploring the above issues is of great practical significance for enhancing the resilience of the global value chain of productive services in China and other developing countries.#br#This study selects sample data from 62 countries in the ADB MRIO database from 2012 to 2021, and constructs an econometric model to empirically examine the impact of digital economy development on the resilience of the global value chain of productive services. In this process, the dynamic impact effects of digital economy development indicators with a lag of 2—5 periods are analyzed, and a model of mechanism test is used to verify the transmission mechanism of the two. The empirical results indicate that the improvement of the development level of the digital economy can significantly enhance the resilience of the global value chain of productive service industries in various countries, with the application of digital technology having a more significant effect. The dynamic effect results show that the impact of digital economy development on the resilience of the global value chain of productive services is a long-term and dynamic process with a continuously deepening trend. The mechanism test shows that the development of the digital economy can enhance the resilience of the global value chain of productive services by promoting the liberalization of service trade and improving the level of factor integration. Heterogeneity analysis reveals that the impact of digital economy development on the resilience of the global value chain of productive services varies greatly depending on the industry life cycle and the destination country (region).#br#Compared with existing literature, the study firstly offers a new perspective on the resilience of the global value chain of productive services as the starting point and foothold;it measures the resilience of the global value chain of productive services in various countries from the dimensions of stability and safety, and expands the existing research scope. Secondly, it integrates the development of the digital economy and the resilience of the global value chain of productive services into a unified framework for research, which expands the depth of research. Thirdly, on the basis of sample data from various countries around the world, this study manages to examine the relationship between the development of the digital economy and the resilience of the global value chain of productive services from a macro perspective, providing empirical evidence for China to improve its level of digital economy development and enhance the resilience of the global value chain of productive services.#br#The findings of the study suggest the government should improve the legal system related to the digital economy, implement an efficient market access and investment access mechanism for the service industry, and accelerate the reform of factor market integration, i.e., a multi-level factor trading market systems and an effective linkage mechanism between domestic and international factor markets should be built.#br#
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Received: 07 October 2023
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