A Study of the Impact of the Opening of Digital Service Market on the Servitization Level of the Manufacturing Industry

Abstract

Abstract: Digital services have been widely and deeply integrated into the production and operation links of the traditional manufacturing industry. Based on the industrial data of 17 manufacturing industries in 42 economic entities from 2005 to 2018, this paper conducts an empirical study on the impact of the opening of digital service market for economic entities on the servitization level of the manufacturing industries. The results show that the opening of digital service market can significantly promote the service level of the manufacturing industry by improving the allocation effect, the R&D innovation effect, and the substitution effect of low-skill labor factor. The opening of digital service market has a significant positive spatial spillover effect on the servitization of the manufacturing industry. It can be seen from the subsample regression that the opening of the digital service market has a promoting effect on the improvement of the professional servitization, communication servitization and financial servitization of the manufacturing industry. Compared with the high-income countries, the opening of digital service market in the low-and middle-income countries has a more significant effect on the improvement of the level of servitization of the manufacturing industry. The higher the position of the manufacturing industry in the value chain, the greater the promotion effect of the opening of the digital service market on its level of servitization.

Key words: digital service, market opening, servitization of the manufacturing industry

CLC Number:

F114.4

ZHOU Nian-li, BAO Ya-nan. A Study of the Impact of the Opening of Digital Service Market on the Servitization Level of the Manufacturing Industry[J]. Contemporary Finance & Economics, 2022, 0(7): 112-122.

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