The Penetration of New Generation Information Technology and Sustainable Development of Regional Economy in China—Moderation Effect of Institutional Environment

Abstract

Sustainable economic development is an important force to enhance the comprehensive national strength. It mainly depends on the breakthrough and innovation of science and technology. The new generation of information technology (NGIT) is the most active field in scientific and technological innovation. It is of great significance to deeply consider the relationship between the new generation of information technology and the sustainable development of a regional economy. In this study, 29 provinces and cities in China from 2009 to 2018 were selected and use the feasible generalized least squares (FGLS) method to empirically analyze the impact of the new generation of information technology on the sustainable development of regional economy. Simultaneously, it analyzes the differences between NGIT and economy sustainable development of the regional economy under different institutional environments. According to the research results, there is a positive correlation between new-generation information technology and the sustainable development of a regional economy. There is a positive U-shaped relationship between the penetration depth of NGIT and the sustainable development of a regional economy. Simultaneously, the higher the institutional environment’s level, the stronger the positive relationship between the penetration of NGIT and the sustainable development of a regional economy.

Financial Agglomeration, Energy Efficiency, and Sustainable Development of China’s Regional Economy: Evidence from Provincial Panel Data

“…Sustainable development of the regional economy (RESD) is the dependent variable. Congruent with Cheng et al's [19] recommendation to address RESD, this article adopts a distinctive indicator of the sustainable development of China's regional economy which highlights three crucial subsystems of resources, environment, and economy. Combining the 22 evaluation indicators of the three subsystems with the measurement algorithm for each indicator's weight advocated by Cheng et al [19], it is easy to engender the relatively objective and accurate RESD values for each province.…”

“…Similarly, referring to the research of Cheng et al [19], the calculation process of RESD is as follows:.…”

“…Moreover, this paper contains some plausible controlling variables which have been proved to be significant factors affecting regional sustainable development [10,19].…”

“…Next, this paper verifies the moderating effect of economic policy uncertainty on the correlation between FA and EFF by constructing a moderation effect model. In equation (19), the interaction term between financial agglomeration and economic policy uncertainty is added.…”

“…However, the impact of financial agglomeration on the regional economy's sustainable development has been seriously neglected in existing studies. Only Cheng et al [19] discussed the relationship between the penetration of information technology and the sustainable development of the regional economy. Empirical evidence related to financial agglomeration only concerned green development, urbanization, and marine eco-efficiency [5,6].…”