Effect of Digital Silk Road and innovation heterogeneity on digital economy growth across 29 countries: New evidence from PSM-DID

Amogh Ghimire, Sajjad Ali, Xingle Long, Lili Chen and Jiayi Sun

Technological Forecasting and Social Change, 2024, vol. 198, issue C

Abstract: Digital Silk Road (DSR) initiated in 2015 aimed to foster industry collaboration within high-tech sectors. We compare different effects of the Digital Silk Road and innovation heterogeneity on digital economy growth between 9 treatment and 20 control countries via propensity score matching (PSM)-DID (difference-in-differences) methodology. The PSM-DID approach have the merits to address the differences biases between treatment and controlled groups, while embracing the complex dimensions of individual heterogeneity. Furthermore, we also explore the different effects of institutions innovation (INS), human capital and research innovation (HCR), infrastructure innovation (INF), market sophistication innovation (MAS), and business sophistication innovation (BUS) on the digital economy. Notably, the investigation also probes the interactions that transpire between human capital & research innovation and different innovation on the digital economy. The DID regression revealed that policy shock of DSR has exerted a discernibly positive effect on the digital economy. Infrastructure innovation improved digital economy. Human capital and research innovation also enhanced digital economy. Business sophistication innovation promotes the increase of the digital economy.

Keywords: Innovation; Digital silk road; Interacting effect; Digital economy (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0040162523006728
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:198:y:2024:i:c:s0040162523006728

DOI: 10.1016/j.techfore.2023.122987

Access Statistics for this article

Technological Forecasting and Social Change is currently edited by Fred Phillips

More articles in Technological Forecasting and Social Change from Elsevier
Bibliographic data for series maintained by Catherine Liu ().