Study on the impact of digital economy on innovation output based on dynamic panel data model
European Journal of Innovation Management
ISSN: 1460-1060
Article publication date: 26 September 2023
Abstract
Purpose
The digital economy has become a new engine for economic development, promoting the upgrading and transformation of traditional industries as well as fostering emerging industries and forms of business. Nonetheless, how does the digital economy affect innovation? The research objective is to explore the specific impact of the digital economy on innovation output.
Design/methodology/approach
This paper innovatively adopts the dynamic panel data model (DPDM) to carry out an empirical study on the impact of the digital economy on innovation output, through the observation of 30 provincial-level administrative regions in China. Furthermore, the paper innovatively analyzes the impact of different dimensions of the digital economy on innovation output and the impact of the digital economy on different dimensions of innovation output.
Findings
It is found that the digital economy is conducive to boosting innovation output considering innovation continuity. Specifically, the driving impact of core industries and enterprise application of digital economy on innovation output is more prominent, but the driving impact of infrastructure and personal application on innovation output is not fully played. Meanwhile, the driving impact of the digital economy on the innovation output quality is more significant than that digital economy on the innovation output quantity.
Originality/value
This study employs a DPDM for the first time to investigate the specific impact of the digital economy on innovation output, and contributes to the existing literature on the digital economy and digital economy-driven innovation. The findings offer a comprehensive explanation for the impact of the digital economy on innovation output, which has reference value for the formulation of innovation policies driven by digital economy, thereby providing impetus for the sustained and stable development of China's economy.
Keywords
Acknowledgements
This research was funded by the Fundamental Research Funds for the Central Universities (2023YJS109) and the National Social Science Found of China (18BTJ024).
Citation
Xu, J. and Li, W. (2023), "Study on the impact of digital economy on innovation output based on dynamic panel data model", European Journal of Innovation Management, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/EJIM-03-2023-0193
Publisher
:Emerald Publishing Limited
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