数实融合、要素市场扭曲与经济增长

Integration of Data and Reality, Distortion of Factor Market and Economic Growth

基于我国2013~2020年省级面板数据,在测度数实融合水平的基础上分别采用双向固定效应模型、面板门槛模型实证检验了数实融合对经济增长的影响机制与效应。研究发现,我国数实融合水平仍然处于低度融合阶段,分区域来看,我国东部地区的数实融合水平最高,中部地区次之,西部地区较低,由东向西表现为从高到低的融合空间分布格局。实证结果表明,数实融合有助于促进经济增长;中介效应结果表明改善要素市场扭曲是数实融合促进经济增长的内在机理,其中主要是通过改善资本市场要素扭曲来促进经济增长;面板门槛模型分析显示,数实融合对促进经济增长存在以数字经济发展水平为门槛变量的递增型非线性特征;区域异质性分析发现,数实融合对中西部以及处于非长江经济带的地区促进作用较强;对东部地区以及长江经济带地区的经济促进作用有待进一步深化研究。

Based on China’s provincial Panel data from 2013 to 2020, this paper empirically tests the impact mechanism and effect of data reality integration on the distortion of factor market by using two-way fixed effect model and panel threshold model on the basis of measuring the level of data reality integration. Research has found that the level of digital and real integration in China is still in a low level of integration. From a regional perspective, the eastern region of China has the highest level of digital and real integration, followed by the central region, and the western region has a lower level. From east to west, the spatial distribution pattern of integration is shown from high to low. The empirical results indicate that the integration of data and reality contributes to promoting economic growth;The results of mesomeric effect show that improving the distortion of factor market is the internal economy of promoting economic growth through the integration of data and reality, which mainly promotes economic growth by improving the distortion of capital market factors;The panel threshold model analysis shows that the integration of data and reality has an increasing nonlinear characteristic in promoting economic growth, with the development level of the digital economy as the threshold variable;Regional heterogeneity analysis found that the integration of data and reality has a strong promoting effect on the central and western regions as well as those located in the non Yangtze River economic belt;The regional economic promotion effect on the eastern region and the Yangtze River Economic Belt needs further deepening research.