Does Digital Reform Promote the Development of the Real Economy: Mechanism and Evidence

Based on the Financial Perspective of Shanghai Stock Exchange Corporation

Abstract

The digital economy based on the new generation of information technology has increasingly become an important driving force to promote economic development. However, the research on relevant digital economy theories lags behind, making it difficult to accurately explain the new economic phenomenon and more effectively guide the high-quality economic development practice in the new development stage. This paper focuses on the impact of digital technology change on the development of relevant basic theories of economics. Based on the panel data of Shanghai Stock Exchange Corporation from 2016 to 2020, it comprehensively analyzes the impact of the degree of digital division of labor and the intensity of digital transformation on the growth of enterprises. From this small Perspective, it broadens to the level of China's real economy, and analyzes how the digital reform of enterprises brought by digital policies affects the real economy. This paper finds that, according to the existing data, the degree of digital division of labor and the intensity of digital transformation play a role in promoting economic development. Moreover, with the promotion of the national digital strategy, the economic dividends brought by the policy to enterprises each year increase. The following suggestions are given: enterprises should pay attention to digital reform and improve their production efficiency; At the national level, we should continue to deepen the reform of the digital economy system and guide enterprises to develop healthily.