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Keywords

new infrastructure; regional innovation; marketization; productive service industries

Abstract

As China��s economy enters a new normal, the construction of a new development pattern based on the smooth circulation of the national economy will inevitably require that the main line of structural reform on the supply side be the continuous improvement of the efficiency of resource allocation in society as a whole. According to the objective law, the rational layout of industry is an effective way to promote the optimal allocation of resources. The agglomeration of productive service industries can improve the specialization level of manufacturing industry, enhance the quality and competitiveness of enterprise products, achieve a high level of dynamic balance between supply and demand, and play an important role in China��s economy to realize the shift from high-speed growth to high-quality development. Along with the improvement of new infrastructure, near-costless instantaneous communication has become a reality, the level of intelligence is increasing, and transportation has become more convenient, which provides a favorable environment for the agglomeration of productive service industries. In order to effectively promote China��s economy to a deeper level of high-quality development, it is of great theoretical and practical significance to explore the mechanism of new infrastructure on the agglomeration of productive service industries. Against this background, this paper utilizes panel data of 30 provinces in mainland China (except Tibet) from 2008 to 2021 to clarify the path of new infrastructure affecting the agglomeration of productive service industries. This study selects appropriate indicators to measure the level of new infrastructure and the degree of agglomeration of productive services, constructs an econometric model to empirically test the impact of new infrastructure on the agglomeration of productive services, and reveals the path of the new infrastructure affecting the agglomeration of productive services. It is found that the improvement of new infrastructure can significantly promote the agglomeration of productive service industry, and the conclusion still holds after the robustness test of replacing the explanatory variables, shrinking the tails and replacing the core explanatory variables, and using the lagged one period of new infrastructure as an instrumental variable to deal with endogenous issues, which further corroborates the robustness of the regression results. The new infrastructure can improve the regional innovation level through easing financial financing constraints, breaking information barriers, improving resource allocation rate, promoting international technology introduction, and enhancing innovation efficiency, which in turn promotes the agglomeration of productive service industries; the enhancement of marketization can improve the efficiency of the flow of factors of production such as labor, capital and technology, realize the optimization of resource allocation, provide a good external environment for the agglomeration of productive services, and help to give full play to the role of the new infrastructure in promoting the agglomeration of productive service industries. There is regional heterogeneity in the role of new infrastructure on the agglomeration of productive service industries. The eastern part of China can absorb the benefits of the agglomeration of productive service industries brought by the new infrastructure, while the potential of the new infrastructure in the central and western parts of the country needs to be further explored. Based on the above findings, this paper puts forward targeted recommendations, specifically including increasing the scale of investment in new infrastructure to empower the agglomeration of productive service industries, enhancing the level of regional innovation, accelerating the construction of marketization, and promoting the agglomeration of productive service industries. optimizing the spatial layout of new infrastructure, and formulating differentiated development strategies.

DOI

10. 16315 / j. stm. 2024. 02. 009

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