Impact of urban-rural development and its industrial elements on regional economic growth: An analysis based on provincial panel data in China

Abstract

Urban-rural development is an important driving force for regional economic growth. The existing researches have studied this issue from various perspectives, but they ignore the impact of big data on the economy. In the post pandemic era, big data, as an emerging production factor, has a significant indicative effect in promoting urban-rural economic recovery and fostering new business forms. Therefore, fully considering the factor of big data can help reveal its impact mechanism on urban-rural economic growth in the post-epidemic period. Based on the data of 30 provinces and cities in China, this paper introduced big data on the basis of traditional models and constructed a multi-dimensional factor indicator system. At the same time, the panel regression model was established by using unit root test, Hausman test and precision test. Through benchmark regression and heterogeneity analysis, the impact of urban-rural development factors on economic growth was discussed. The results showed that the panel model passed all tests, and its regression error was stable below 5 %. Transportation, technology, and the three major industries can all promote positive economic growth, with a significance of 1 %. The three industries' contribution to economic growth ranks the third, second and first industries in order. In addition, the good ecological environment contributes to the benign economic growth during the study period. A 1 % increase in forest cover would drive economic growth by 0.215 %. But the impact of public's attention on the overall economy was an indirect effect manifested through its physical industries.The regional heterogeneity indicated that each element had different effects on economic development in eastern, central and western regions. Based on its results, this paper proposed suggestions for each region. In addition, this study found that the Internet attention reflected by big data did not directly drive economic growth, but affected economic growth through indirect channels such as information flow and resource allocation of real industries. This study provided data support for the existing theoretical review, and provided policy reference for the rational planning and industrial layout of China's regional economy.