Open Access Journal Article

Digital economy drives the transformation and upgrading of manufacturing industry in Hebei Province

by Shi Yin a, b,* orcid ,  Jianfang Li c ,  Jiayi Yin a  and  Tahir Mahmood d
a
College of Economics and Management, Hebei Agricultural University, Baoding, 071001, China
b
School of Economics and Management, Harbin Engineering University, Harbin, 150000, China
c
Science and Technology Research Institute, Hebei Agricultural University, Baoding, 071001, China
d
Tahir Mahmood, Department of Mathematics and Statistics, International Islamic University, Pakistan
*
Author to whom correspondence should be addressed.
JIE  2024, 19; 1(4), 19; https://doi.org/10.58567/jie01040003
Received: 5 December 2023 / Accepted: 26 December 2023 / Published Online: 9 January 2024
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Abstract

In the context of digital economy, Hebei Province, as an important province in central China, has a huge manufacturing base and potential, and the development of digital economy has driven the transformation and upgrading of manufacturing industry to a certain extent. In order to better play the driving role of digital economy in the transformation and upgrading of manufacturing industry, this paper establishes an intermediary effect model based on three intermediary variables: enterprise resource allocation ability, enterprise cost and enterprise innovation ability, and conducts an empirical study on the panel data of 11 prefecture-level cities in Hebei Province from 2017 to 2022. The mechanism of digital economy driving manufacturing upgrading in Hebei Province was discussed. The results show that: (1) there is a significant positive correlation between the development of digital economy and the transformation and upgrading of manufacturing industry, which indicates that the development of digital economy has a direct driving effect on the transformation and upgrading of manufacturing industry; (2) There is also a positive correlation between the development of digital economy and the resource allocation ability and innovation ability of enterprises, indicating that the development of digital economy can improve the resource allocation ability and innovation ability of enterprises, and is conducive to the stable development of enterprises in the future; (3) Enterprise resource allocation ability and enterprise innovation ability play a significant intermediary role in the relationship between digital economy development and the transformation and upgrading of manufacturing industry, indicating that digital economy can indirectly accelerate the transformation of manufacturing enterprises' R & D achievements by improving enterprises' resource allocation ability and innovation ability, thus improving enterprises' market competitiveness and increasing enterprises' earnings. Drive the transformation and upgrading of the manufacturing industry. Based on this research conclusion, the government should give full play to the role of guidance and support, and introduce relevant policies to help the digital economy drive the transformation and upgrading of manufacturing enterprises. Manufacturing enterprises should seize the tide of the development of the digital economy, use digital technology to improve their resource allocation ability and innovation ability, enhance core competitiveness, and accelerate the transformation and upgrading of enterprises.

Keywords: digital economy; transformation and upgrading; manufacturing industry; mediating effect; action mechanism;
Copyright: © 2024 by Yin, Li, Yin and Mahmood. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

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ACS Style
Yin, S.; Li, J.; Yin, J.; Mahmood, T. Digital economy drives the transformation and upgrading of manufacturing industry in Hebei Province. Journal of Information Economics, 2023, 1, 19. https://doi.org/10.58567/jie01040003
AMA Style
Yin S, Li J, Yin J, Mahmood T. Digital economy drives the transformation and upgrading of manufacturing industry in Hebei Province. Journal of Information Economics; 2023, 1(4):19. https://doi.org/10.58567/jie01040003
Chicago/Turabian Style
Yin, Shi; Li, Jianfang; Yin, Jiayi; Mahmood, Tahir 2023. "Digital economy drives the transformation and upgrading of manufacturing industry in Hebei Province" Journal of Information Economics 1, no.4:19. https://doi.org/10.58567/jie01040003
APA style
Yin, S., Li, J., Yin, J., & Mahmood, T. (2023). Digital economy drives the transformation and upgrading of manufacturing industry in Hebei Province. Journal of Information Economics, 1(4), 19. https://doi.org/10.58567/jie01040003

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