Group regression results.

The digital economy is a new impetus to promote high-quality economic development. We use the policies of Zhejiang Information Economy Development Demonstration Base (IEDD) and Zhejiang Software and Information Service Industry Base (SISI) established between 2015 and 2017 to design a quasi-natural experiment. By using a panel data from 2005 to 2020 in Zhejiang and the difference-in-differences model, we test the impacts of IEDD and SISI policies on digital economy development. We find that there are significant spatial differences for digital economy in Zhejiang. IEDD and SISI policies improve the digital economy development, that is, the policy advantages can indeed be transformed into industrial advantages. The IEDD policy can promote the digital economy industry development by enhancing the digital infrastructure and financial development; SISI policy can promote the development of the digital economy industry by promoting financial development. The results of quantile regression show that the promotion effect of IEDD and SISI policies increases with the improvement of the industrial basis of regional digital economy. The results of group regression show that the IEDD policy promotes the digital economy development in counties and county-level cities of Zhejiang, and the SISI policy plays a significant role in municipal districts.

数字经济是推动经济高质量发展的全新动力。本研究以2015至2017年设立的浙江省信息经济发展示范基地（Zhejiang Information Economy Development Demonstration Base，IEDD）与浙江省软件和信息服务业基地（Zhejiang Software and Information Service Industry Base，SISI）两项政策为外生冲击，构建准自然实验框架。本研究利用浙江省2005至2020年的面板数据，结合双重差分模型，检验了上述两项政策对数字经济发展的影响效应。研究发现，浙江省数字经济发展存在显著的空间异质性；两项政策均能有效推动区域数字经济发展，即政策红利可切实转化为产业竞争优势。其中，信息经济发展示范基地政策可通过完善数字基础设施与提振金融发展水平，助力数字经济产业发展；软件和信息服务业基地政策则可通过推动金融发展，促进数字经济产业提质升级。分位数回归结果显示，随着区域数字经济产业基础的提升，两项政策的赋能效应均会逐步增强。分组回归结果进一步表明，信息经济发展示范基地政策对浙江省县域及县级市的数字经济发展具有显著推动作用，而软件和信息服务业基地政策则对地级市市辖区的数字经济发展成效显著。