Research on the Impact of Digital Economy on Low Carbon Development of Manufacturing Industry

Abstract

Abstract To explore the impact of digital economy on the low-carbon development of manufacturing industry, this paper constructs theoretical and empirical models, and studies from both theoretical and empirical perspectives. The results show that there is a U-shaped relationship between digital economy and low-carbon development of manufacturing industry. In terms of theoretical model analysis, we adopt the Green Solow model as the analytical framework, and improve and expand the CES production function to introduce digital economy into it. By deducing the theoretical model, we draw the conclusion that there is a possibility of an inverted U-shaped curve between the development of digital economy and carbon emissions. In terms of empirical verification, this paper applies fixed-effect and intermediate-effect empirical models, and relies on panel data of 30 provinces and cities in China from 2011 to 2020 to conduct an empirical study on the relationship between digital economy and low-carbon development of manufacturing industry. The results show that the impact of digital economy on the low-carbon development of manufacturing industry is not linear, but exhibits a U-shaped relationship. In regions with high and medium levels of marketization, digital economy has a significant impact on the low-carbon development of manufacturing industry, while it has no obvious impact in regions with low levels of marketization. Furthermore, this study finds that digital economy can influence the low-carbon development of manufacturing industry through various ways, such as innovative green technology, reducing capital mismatch, and promoting industrial upgrading of manufacturing industry, based on the analysis of influencing mechanism.