Contemporary Finance & Economics ›› 2025, Vol. 0 ›› Issue (1): 111-125.

• Industry & Trade • Previous Articles     Next Articles

Digital Consumption and New-Quality Productivity Development: Evidences from National Information Consumption Pilot Policies

Liu Mao-tao1, Fang Xu-bing2, Ying Wang-jiang1   

  1. 1. Shanghai University of Finance and Economics, Shanghai 200433;
    2. Nanjing Normal University, Nanjing 210023, China
  • Received:2024-06-25 Revised:2024-10-09 Online:2025-01-15 Published:2025-02-12

Abstract: Driven by globalization and the information technology revolution, digital consumption has become a key driver of economic growth and social development. Promoting the development of new quality productivity through digital consumption transformation has important theoretical significance and practical value for expanding domestic demand and deepening supply-side structural reform. This paper takes the national information consumption pilot policy as a quasi-natural experiment of digital consumption, and constructs an overlapping difference-in-difference model to conduct the study. The findings show that digital consumption has a positive impact on the development of new quality productivity in enterprises, and its mechanism mainly includes promoting the gathering of digital talents, stimulating entrepreneurial spirit, increasing government digital subsidies, and promoting digital transformation of enterprises. The heterogeneity test reveals that the promotion effect of the national information consumption pilot policy on the new quality productivity of enterprises is more significant in the regions with high levels of digital infrastructure, in the high-tech manufacturing industries, and in the sample enterprises with high levels of data element utilization. Therefore, the government needs to persist with and refine the national information consumption pilot policy, creating a favorable institutional environment for promoting the development of new productive forces in enterprises. Additionally, it should systematically plan and categorize measures, optimize policy layout, and achieve precise positioning of the information consumption pilot policy. Enterprises should closely monitor pilot policies, seize policy opportunities, and formulate development strategies accordingly.

Key words: national information consumption pilot policies, digital consumption, new quality productivity, entrepreneurship

CLC Number: