Advances in Economics, Management and Political Sciences
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Proceedings of the 6th International Conference on Economic Management and Green Development (ICEMGD 2022), Part Ⅱ
Series Vol. 4 , 21 March 2023
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Digital Economy Development and Residents' Income
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Abstract
The digital economy has become a new engine for high-quality economic development, with a profound impact on economic, social, and residents' welfare. The data from the China Family Panel Studies (CFPS) are used to analyze the function and effects of the digital economy on residents' income growth and income disparity using the "Broadband China" strategic program as a natural experiment. The results of the empirical analysis confirm the role of digital economy development in promoting residents' income; the heterogeneity analysis shows that the positive impact of digital economy development on residents' income is greater for households in developed eastern regions, and non-agricultural households, and households with high years of education. The mechanism analysis shows that enhancing human capital investment and widening social networks through increased spending on education and human gifts, respectively, and increasing income from working outside the home significantly increase residents' income. The results of this study have significant ramifications for the development of the digital economy, steady income growth among inhabitants, and consequently, the closing of the income gap.
Keywords
Digital Economy, Income growth, Social networks, Income gap, Human capital.
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 6th International Conference on Economic Management and Green Development (ICEMGD 2022), Part Ⅱ
- ISBN (Print)
- 978-1-915371-17-1
- ISBN (Online)
- 978-1-915371-18-8
- Published Date
- 21 March 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/4/20221029
- Copyright
- 21 March 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited