¹Wang Shiya, ²Doris Padmini Selvaratnam

^1,2Faculty of Economics and Management Universiti Kebangsaan Malaysia

DOI : https://doi.org/10.47191/ijsshr/v7-i08-22

Google Scholar Download Pdf
ABSTRACT

In today's world economic system, data resources have become one of the important tools to promote local economic growth. Using China as an example, this study explores the complex relationship between the degree of data progress and local economic welfare. This paper aims to reveal the role of data resources as a catalyst for economic growth by examining the relationship between data flow efficiency, data infrastructure quality, and economic growth measures. At the same time, the research project uses EViews software to conduct econometric analysis of economic indicators such as GDP growth rate, employment data and per capita GDP to verify the relationship between data development level and economic performance. The final study shows that there is a strong positive correlation between effective management and use of data resources and local economic success, and we find that this correlation is particularly strong in regions with better data infrastructure. These findings provide practical evidence for policymakers, such as businesses or governments, and underscore the need to implement data-focused economic development strategies. The article shows that in order to rapidly develop the digital economy to help improve the economic level, increase and attract talents, etc., it is necessary to establish a sound data infrastructure, as well as improve the efficiency and accuracy of data transmission. These findings provide important insights into how businesses use data resources to make strategic decisions.

KEYWORDS:

Two-way empowerment, data assets, economic progress, human capital development, data framework, econometric examination

REFERENCES
1) Digital Economy as a Driver of Business Development，Kseniia Verhal，National University "Yuri Kondratyuk Poltava Polytechnic" DOI: https://doi.org/10.53486/icspm2022.61

2) Economic Drivers of the Data Element，Luyu Chen，Zhejiang University of Finance & Economics a. DOI: https://doi.org/10.53486/icspm2022.61

3) Challenges and Strategies for Organizations and Talent in Digital Transformation，Daiheng Li，Beijing Wuzi University a. http://www.sciencepublishinggroup.com/j/ijber

4) Influence of Data Mining Technology in Information Analysis of Human Resource Management on Macroscopic Economic Management，Ai Zhang，Gannan University of Science and Technology a. DOI:https://doi.org/10.1371/journal.pone.0251483

5) Modelling and Simulation of Economic Processes in E-commerce，Author Not Specified，Institution Not Specified a. DOI: http://dx.doi.org/10.26583/bit.2019.2.05

6) Artificial Intelligence and its Applications in Financial Fraud Detection，Ming Liu，Shanghai University of Finance and Economics DOI: https://doi.org/10.1155/2023/9848306

7) Blockchain Technology in Financial Services，Yuan Song，Beijing Institute of Technology DOI: 10.3233/FAIA230040

8) Economic Impact of Cybersecurity in Digital Transformations，Eric Tan, University of Singapore a. https://doi.org/10.1371/journal.pone.0251483

9) Quantitative Analysis of Market Fluctuations in Crypto Economies，Sophia Chiang，Hong Kong University of Science and Technology，CIGI Papers No. 223 — July 2019 • Susan Ariel Aaronson

10) The Role of Digital Platforms in Enhancing Economic Productivity，Alex Johnson，London School of Economics a. DOI：https://doi.org/10.3390/su14127143

11) Impact of Digitalization on Global Trade Dynamics，Nia Martínez，Barcelona School of Economics a. DOI: https://doi.org/10.3390/su142215289

12) STATISTICAL COMMUNIQUÉ OF THE PEOPLE'S REPUBLIC OF CHINA ON THE 2022 NATIONAL ECONOMIC AND SOCIAL DEVELOPMENT，National Bureau of Statistics of China，February 28, 2023 a. https://www.stats.gov.cn/english/PressRelease/202302/t20230227_1918979.html

13) Digital China Development Report (2022)，4-2023
a. http://data.mofcom.gov.cn/report/%E6%95%B0%E5%AD%97%E4%B8%AD%E5%9B%BD%E5%8F%
91%E5%B1%95%E6%8A%A5%E5%91%8A%EF%BC%882022%E5%B9%B4%EF%BC%89.pdf

14) China Local Data Development Report (2023) and Data Development Index, Tsinghua University a. http://www.cbdio.com/BigData/2023-12/14/content_6175916.htm

Volume 07 Issue 08 August 2024