How Can Digital Infrastructure Construction Promote the Integrated Development of the Regional Market in the Yangtze River Delta?

本文基于2011~2021年长三角地区41个城市的面板数据，实证研究数字基础设施建设对区域市场一体化发展的影响。研究发现，数字基础设施建设能够显著促进长三角区域市场一体化发展，在长三角非中心区城市、数字基础设施建设水平落后和小规模城市赋能作用更显著。数字基础设施通过提高技术创新水平，缓解融资约束和降低制度性交易成本促进区域市场一体化发展。空间计量表明，数字基础设施建设对邻近城市的市场一体化发展存在显著的正向空间溢出效应，即数字基础设施发展强势地区对弱势地区起到辐射作用。研究结论为加强数字基础设施建设、促进区域市场一体化和畅通国内大循环提供有益启示。Based on the panel data of 41 cities in the Yangtze River Delta region from 2011 to 2021, this paper empirically studies the impact of digital infrastructure construction on the development of regional market integration. The study finds that the construction of digital infrastructure can significantly promote the integrated development of the regional market in the Yangtze River Delta, and plays a more significant role in the empowerment of cities in the non-central areas of the Yangtze River Delta, backward digital infrastructure construction and small-scale cities. Digital infrastructure promotes the integrated development of regional markets by improving the level of technological innovation, alleviating financing constraints and reducing institutional transaction costs. The spatial measurement results show that the construction of digital infrastructure has a significant positive spatial spillover effect on the market integration development of neighboring cities, that is, the strong areas of digital infrastructure development play a radiating role in the weak areas. The conclusions of the study provide useful enlightenment for strengthening the construction of digital infrastructure, promoting regional market integration and smoothing the domestic circulation.