Digital Economy and High-Quality Industrial Development

In the 14th Five-Year Plan period(2021-2025),China has vowed to pursue high-quality industrial development.The digital economy drives high-quality industrial development by creating means of production,reducing transaction costs,transforming industrial organization,and improving the efficiency of resource allocation.The digital factor has become a key factor of production for high-quality development.Digital and user-created innovations are the new normal for cross-sectoral integration and innovation.Great progress has been made in China'high-quality industrial development driven by the digital economy.The rapid development of digital industries and industrial digitalization have reshaped the industrial division of labor and helped the ascension of related industries towards the medium-and high-end links of the global value chains.However,China still faces numerous challenges in the development of its digital economy;it lacks indigenous industrial innovation,depends on foreign supply of core technologies,and is ill-prepared for industrial digitalization.Much work remains to be done to further coordinate the development of some industries and foster digital ecosystems for the symbiosis of industrial chains.In furthering the high-quality industrial development driven by the digital economy,China should stay at the forefront of digital innovation,promote digital governance,enhance data factor agglomeration,and foster digital talents.

From Importation to Innovation: The Perspective of Organizational Inertia's Effects

Based on an explorative embedded single-case study, this paper analyzes its import-based innovation process, identifies characteristics of manifestation of organizational inertia＇s effects, and reveals organizational learning＇s effects on firms＂ organizational inertia. The case selected is the successful practice about typical technology import of internal combustion locomotive, electric locomotive, and diesel engine, owned by Dalian Locomotive and Rolling Stock Ltd Company of CRRC. Based on analysis, it can be found that firms＇organizational inertia exhibits primarily negative effects, positive effects and a combination of positive and negative effects in different stages of imitative, improved and indigenous innovation respectively. Further analysis of typical events shows that explorative learning mitigates organizational inertia＇s negative effects, while exploitative learning enhances its positive effects. From the angle of organizational inertia＇s effects, this paper deepens understanding on the mechanism of transition from technology importation to indigenous innovation, and provides inspirations for late-coming firms to break the vieious cycle where technology importation leads to more backwardness..

Technology Gaps, Resource Allocation and Economic Growth of Large Late-starting Countries

In the evolution of economic growth drivers, technology gaps are a key variable that determines the efficiency of resource allocation. Analysis of an optimal resource allocation path based on an extended endogenous growth model reveals that economic growth drivers evolve from productive investment to R＆D investment and a shift from imitation to innovation. Empirical analysis based on China＇s provincial-level panel data suggests that the effect of productive investment and R＆D investment, as well as innovation and imitation, on economic growth and technological progress varies greatly among regions of disparate technology levels. As a late-starting country, China should properly allocate resources between productive investment and R＆D investment, and between imitational investment and innovative investment while advancing the transformation of economic growth patterns on a differentiated basis in light of regional technology disparities.