Impact of Digital Industrialization on High-quality Economic Development

Abstract

Against the background of rapid development of global information technology, digital industrialization has become an important path to promote high-quality economic development. Based on the panel data of 30 provinces in China from 2012 to 2020, this paper constructs the digital industrialization index and the index of high-quality economic development, and adopts the two-way fixed effect model to study the impact of digital industrialization on high-quality economic development and sort out the impact mechanism. The results show that digital industrialization not only directly promotes the high-quality development of regional economy, but also further promotes the high-quality development of economy through the indirect effect of industrial upgrading. The improvement of human capital level and the increase of financial investment in research significantly enhance the promotion effect of digital industrialization on high-quality economic development. The heterogeneity results indicate that the enhancement of economic quality development by digital industrialization is only significant in the northern region, the region with higher economic level and higher investment in education.