An Empirical Analysis of the Digital Economy's Impact on Regional Export Efficiency: Evidence from RCEP Countries and Zhejiang, China

This research paper constructs an indicator system for measuring the level of digital economy development of RCEP countries. Based on the panel data of export trade of Zhejiang Province to RCEP countries from 2012 to 2022, using the stochastic frontier gravity model (SFGM), it systematically evaluates the influence of digital economy of RCEP countries on export efficiency of Zhejiang Province, revealing the crucial role of digital economy in promoting international trade through multi-dimensional and multi-level data analyses. The results of the research imply that the improvement in digital economy of RCEP countries significantly contributed to export efficiency of Zhejiang Province, with differences between different dimensions of digital economy. During the study period, the export efficiency of Zhejiang Province to ASEAN countries increased the most. Therefore, it is suggested to strengthen the RCEP digital economy circle, adopt different strategies for cooperation and connection, as well as focus on the changes and opportunities in the ASEAN market. This study provides valuable insights for policy makers and stakeholders and is of great practical importance for enhancing economic and trade cooperation among RCEP countries.