Advances in Management and Applied Economics

Phoenix Talent Plan, Digital Economy and Industrial Structure Upgrading: A Difference-in-Differences Estimation

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• Abstract

   

  Based on panel data from cities in Hebei Province from 2009 to 2021, this paper regards the new talent introduction policy in Tangshan, The Phoenix Talent Plan, as a quasi-natural experiment. It establishes an index system for the development efficiency of the digital economy in various cities and constructs a double difference model to empirically examine the impact of The Phoenix Talent plan on industrial structural upgrading in Tangshan and its operating mechanism. The main research conclusions are as follows: (1) The Phoenix Talent plan significantly promotes the upgrading of industrial structure. After a series of robustness tests such as placebo tests, this conclusion still holds. (2) Data envelopment analysis results show that the overall digital economy development efficiency in Hebei Province from 2010 to 2021 is relatively high, with Tangshan's digital economy development efficiency ranking at the forefront within the province. (3) DEA-Malmquist analysis results indicate that the development efficiency of the digital economy in cities plays a significant moderating role between talent policies and the upgrading of industrial structure. Given this, Tangshan should actively attract talents and intellects, enhance technological innovation capabilities, and promote high-quality economic development.

   

  Keywords: industrial structure upgrading, Phoenix Talent Plan, digital economy, DID Estimation.