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Abstract: In the context of global industrial chain and supply chain restructuring, the use of digitalization wave to promote the two-way integration of industrial chain and innovation chain has become a key means for countries around the world to realize economic transformation. However, most of the existing studies focus on the study of economic growth or technological progress effects of the digital economy form, and lack sufficient understanding of the digital economy-enabled innovation chain and industry chain integration. Based on the panel data of 53 countries around the world from 2010 to 2022, the mechanism of the digital economy's influence on the deep integration of industrial chain and innovation chain and its heterogeneous effects are systematically investigated by using the two-way fixed effects model, the mediated effects model and the threshold regression model. The empirical results show that the digital economy can significantly promote the deep integration of industrial chain and innovation chain by alleviating the capital mismatch; meanwhile, its promotion effect presents a threshold characteristic that increases with the increase in the level of GDP per capita and the degree of capital mismatch. Further heterogeneity analysis reveals that the integration effect of high-income countries and Asia-Europe region is significantly better than that of low-income countries and the Americas and Oceania regions. Based on the above results, this paper puts forward policy recommendations such as reducing information costs, strengthening digital technology empowerment, optimizing resource allocation and promoting international cooperation, which provide empirical insights and policy references for promoting the upgrading of the global industrial chain and innovation-driven development.
 

Keywords: Digital Economy; Industrial Chain; Innovation Chain; Industry Chain & Innovation Chain Integration