产业政策如何激励企业创新？——来自国家电子商务示范基地建设的证据

How Can Industrial Policies Motivate Enterprises to Innovate?—Evidence from the Construction of National E-Commerce Demonstration Bases

摘要: 在数字经济成为全球经济增长新引擎的背景下，中国政府通过设立国家电子商务示范基地以期形成集聚效应驱动企业创新。研究基于2008~2024年中国A股上市公司相关数据，构建多期双重差分模型，实证检验建立国家电子商务示范城市对企业创新产出的影响。研究发现，国家电子商务示范基地的设立显著提升了当地企业的创新产出，这一结论在经过一系列稳健性检验后依然成立。同时异质性分析进一步揭示，该促进效应在大规模企业、国有企业和非技术性密集企业中更为显著。研究证实了国家电子商务示范基地的建设有效地推动了企业的创新产出，有助于企业实现“提质增效”。因此，政府应持续完善电子商务示范基地的示范布局，增强电子商务发展对当地经济的辐射带动作用，提升当地企业的创新产出水平。

Abstract: Against the backdrop of the digital economy becoming a new engine for global economic growth, the Chinese government has established national e-commerce demonstration bases in an effort to create an agglomeration effect and drive enterprise innovation. Based on the relevant data of China’s A-share listed companies from 2008 to 2024, this study constructs a multi-period difference-in-differences model to empirically test the impact of establishing a national e-commerce demonstration city on the innovation output of enterprises. The research found that the establishment of national e-commerce demonstration bases has significantly enhanced the innovation output of local enterprises. This conclusion still holds true after a series of robustness tests. Meanwhile, heterogeneity analysis further reveals that this promoting effect is more significant in large-scale enterprises, state-owned enterprises and non-technology-intensive enterprises. Research has confirmed that the construction of national e-commerce demonstration bases has effectively promoted the innovation output of enterprises and helped them achieve “quality improvement and efficiency enhancement”. Therefore, the government should continuously improve the demonstration layout of e-commerce demonstration bases, enhance the radiation and driving effect of e-commerce development on the local economy, and increase the innovation output level of local enterprises.