IDEAS home Printed from https://ideas.repec.org/a/eee/reveco/v92y2024icp667-677.html
   My bibliography  Save this article

Digital transformation and economic growth Efficiency improvement in the Digital media era: Digitalization of industry or Digital industrialization?

Author

Listed:
  • Zhang, Qi
  • Wu, Peipei
  • Li, Rongrong
  • Chen, Afei

Abstract

With the arrival of the era of digital media, the digital economy has burst forth with unprecedented vigor and become an important force in promoting the high-quality development of China's economy. This study focuses on the impact of urban digital transformation on economic growth efficiency in the context of the digital media era. Employing Chinese city-level data from 2011 to 2019, we use double fixed-effects and spatial Durbin models to empirically analyze how digital industrialization and industrial digitization affect urban economic growth efficiency. Our results show that digital industrialization and industrial digitization significantly enhance the efficiency of economic growth of Chinese cities in a digital media environment, and this positive correlation is especially significant in cities with higher levels of digitization. For less digitized cities, digital industrialization contributes more significantly to economic growth efficiency. In addition, we find that digital industrialization and industrial digitization positively affect the economic growth efficiency of neighboring regions through spatial spillover effects. These findings are a valuable reference in this digital era for the formulation of development strategies adapted to cities with different levels of digitization, and these emphasize the key role of regional collaboration and integrated strategies in promoting digital transformation.

Suggested Citation

  • Zhang, Qi & Wu, Peipei & Li, Rongrong & Chen, Afei, 2024. "Digital transformation and economic growth Efficiency improvement in the Digital media era: Digitalization of industry or Digital industrialization?," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 667-677.
    • Handle: RePEc:eee:reveco:v:92:y:2024:i:c:p:667-677
    DOI: 10.1016/j.iref.2024.02.010
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1059056024000820
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.iref.2024.02.010?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Wang, Juntian & Chen, Jingwei & Li, Rongrong, 2023. "Outward foreign direct investment and urban green productivity: Promote or inhibit?," International Review of Economics & Finance, Elsevier, vol. 88(C), pages 516-530.
    2. Nathan Nunn & Nancy Qian, 2014. "US Food Aid and Civil Conflict," American Economic Review, American Economic Association, vol. 104(6), pages 1630-1666, June.
    3. HUO, Peng & WANG, Luxin, 2022. "Digital economy and business investment efficiency: Inhibiting or facilitating?," Research in International Business and Finance, Elsevier, vol. 63(C).
    4. Teece, David J., 2018. "Profiting from innovation in the digital economy: Enabling technologies, standards, and licensing models in the wireless world," Research Policy, Elsevier, vol. 47(8), pages 1367-1387.
    5. Zhang, Runze & Li, Zhijun & Xiao, Chunqu & You, Jiwang, 2023. "New engines of economic growth: How digital currencies lead the way to growth in the era of digital economy," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 1597-1617.
    6. Menggen Chen & Songyangyang Zhao & Jiawen Wang, 2023. "The Impact of the Digital Economy on Regional Carbon Emissions: Evidence from China," Sustainability, MDPI, vol. 15(20), pages 1-34, October.
    7. Kong, Qunxi & Li, Rongrong & Wang, Ziqi & Peng, Dan, 2022. "Economic policy uncertainty and firm investment decisions: Dilemma or opportunity?," International Review of Financial Analysis, Elsevier, vol. 83(C).
    8. Myovella, Godwin & Karacuka, Mehmet & Haucap, Justus, 2020. "Digitalization and economic growth: A comparative analysis of Sub-Saharan Africa and OECD economies," Telecommunications Policy, Elsevier, vol. 44(2).
    9. Guo, Bingnan & Wang, Yu & Zhang, Hao & Liang, Chunyan & Feng, Yu & Hu, Feng, 2023. "Impact of the digital economy on high-quality urban economic development: Evidence from Chinese cities," Economic Modelling, Elsevier, vol. 120(C).
    10. Yi, Ming & Liu, Yafen & Sheng, Mingyue Selena & Wen, Le, 2022. "Effects of digital economy on carbon emission reduction: New evidence from China," Energy Policy, Elsevier, vol. 171(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Wang, Lianghu & Shao, Jun, 2024. "The energy saving effects of digital infrastructure construction: Empirical evidence from Chinese industry," Energy, Elsevier, vol. 294(C).
    2. Liang, Benbo & He, Gailei & Wang, Yuran, 2024. "The digital economy, market integration and environmental gains," Global Finance Journal, Elsevier, vol. 60(C).
    3. Lyu, Yanwei & Xiao, Xuan & Zhang, Jinning, 2024. "Does the digital economy enhance green total factor productivity in China? The evidence from a national big data comprehensive pilot zone," Structural Change and Economic Dynamics, Elsevier, vol. 69(C), pages 183-196.
    4. Cai, Hechang & Wang, Zilong & Ji, Yi & Xu, Liuyang, 2024. "Digitalization and innovation: How does the digital economy drive technology transfer in China?," Economic Modelling, Elsevier, vol. 136(C).
    5. Zhu, Qing & Ma, Dan & He, Xin, 2023. "Digital transformation and firms' pollution emissions," Technological Forecasting and Social Change, Elsevier, vol. 197(C).
    6. Wen Chen & Changyi Zhu & Qi Cheung & Siying Wu & Jun Zhang & Jia Cao, 2024. "How does digitization enable green innovation? Evidence from Chinese listed companies," Business Strategy and the Environment, Wiley Blackwell, vol. 33(5), pages 3832-3854, July.
    7. Lifei Ru & Peilin Wang & Yixian Lu, 2024. "An Empirical Investigation into the Effects of the Digital Economy on Regional Integration: Evidence from Urban Agglomeration in China," Sustainability, MDPI, vol. 16(17), pages 1-23, September.
    8. Zhao, Xiaoyang & Weng, Zongyuan, 2024. "Digital dividend or divide: The digital economy and urban entrepreneurial activity," Socio-Economic Planning Sciences, Elsevier, vol. 93(C).
    9. Suo, Xuekun & Zhang, Longting & Guo, Rong & Lin, Han & Yu, Mingchuan & Du, Xiuhong, 2024. "The inverted U-shaped association between digital economy and corporate total factor productivity: A knowledge-based perspective," Technological Forecasting and Social Change, Elsevier, vol. 203(C).
    10. Wenjun Ge & Siyuan Wu & Derong Yang, 2024. "Who are the genuine contributors to economic development under environmental regulation? Evidence from total factor productivity in the three industries," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(9), pages 22801-22838, September.
    11. Zhao, Shuang & Zhang, Liqun & Peng, Lin & Zhou, Haiyan & Hu, Feng, 2024. "Enterprise pollution reduction through digital transformation? Evidence from Chinese manufacturing enterprises," Technology in Society, Elsevier, vol. 77(C).
    12. Chengming Li & Meiyu Wen & Shaoxiang Jiang & Huaxing Wang, 2024. "Assessing the effect of urban digital infrastructure on green innovation: mechanism identification and spatial-temporal characteristics," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-14, December.
    13. Mengmeng Xu & Ruipeng Tan, 2024. "Digital economy as a catalyst for low-carbon transformation in China: new analytical insights," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-14, December.
    14. Li, Jun & He, Wei & Li, Guilong, 2024. "Natural resources, economic complexity and growth nexus: Role of digital governance in addressing the resource curse," Resources Policy, Elsevier, vol. 92(C).
    15. Aparicio, Juan & Santín, Daniel, 2024. "Global and local technical changes: A new decomposition of the Malmquist productivity index using virtual units," Economic Modelling, Elsevier, vol. 134(C).
    16. Li Deng & Zhangqi Zhong, 2024. "The impact of digital infrastructure on carbon emissions: evidence from 284 cities in China," Economic Change and Restructuring, Springer, vol. 57(5), pages 1-38, October.
    17. Maxim Polyakov & NataliÑ–a Kovshun, 2021. "Diffusion Of Innovations As A Key Driver Of The Digital Economy Development," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 7(1).
    18. Du, Jiayue & Gao, Haoyu & Wen, Huiyu & Ye, Yanyi, 2024. "Public data acces and stock price synchronicity: Evidence from China," Economic Modelling, Elsevier, vol. 130(C).
    19. Ren, Jianyu & Xu, Zhitao & Hu, Mingzhi, 2023. "Digital economy and settlement intention of migrants in urban China," Telecommunications Policy, Elsevier, vol. 47(10).
    20. Dong Xue & Tongyang Liu & Xiaomin Li & Xiaolei Zhao, 2023. "Can the Digital Economy Accelerate “Carbon Neutrality”?—An Empirical Analysis Based on Provincial Data in China," Sustainability, MDPI, vol. 15(14), pages 1-26, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:reveco:v:92:y:2024:i:c:p:667-677. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/620165 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.