Abstract：Based on the research on technological innovation and firms’ dynamics by Klette and Kortum (2004), among others, we investigate the driving forces for the digital transformation and its effects on the creative destruction from the digital transformation of the sales channels. Specifically, we believe that technological innovation depends not only on R&D activities, but also on marketing activities and sales channels. Compared with offline channel, online channel has some disadvantages in product quality due to some technical reasons, but online channel also has the advantage of saving the distribution cost.With the development of digital technology, the product quality disadvantage diminishes, which causes more firms to choose online channel. With the increase in offline distribution cost, the cost-saving advantage is strengthened, which push more firms to choose online channel. To sum up, two driving forces push firms to transform from offline channel to online channel, but the consequences of these two different digital transformations may be completely different.With the development of digital technology, the marginal revenue of online firms’ innovation increases, and the R&D investment and the speed of the creative destruction in the entire industry also increase. This is the direct effect of digital technology change. With the development of digital technology, the relative market value of online channel firms also increases. More firms will choose online channel, which affects the speed of the creative destruction. This is the indirect effect of digital technology change. When the cost-saving advantage of online channel exceeds its product quality disadvantage, the average innovation speed of online firms is higher than that of offline firms. Then, more firms transform from offline to online channel to speed up the industry innovation, and the development of digital technology also indirectly helps the industry innovation. Therefore, digital transformation induced by digital technology eventually increases the speed of the creative destruction in the industry in this case.Similarly, the effects of changes in the offline distribution cost on the creative destruction can be divided into direct and indirect effects. When the quality disadvantage of online channel exceeds its cost-saving advantage, the average innovation speed of online firms is lower than that of offline firms. The increase in the offline distribution cost indirectly decreases the industry’s R&D investment and innovation speed. Then, the digital transformation induced by the distribution cost eventually decreases the speed of the creative destruction in this case.Changes in digital technology and distribution cost also affect the quality of the creative destruction in the industry. Under some circumstances, the development of digital technology also improves the quality of the technological innovation, while the increase in distribution cost always lowers the quality of innovation. Therefore, the digital transformation induced by digital technology may promote economic growth due to its positive effects on the creative destruction. However, the digital transformation induced by distribution cost is likely to hinder economic growth due to its negative effects on the creative destruction.
汪淼军. 流通数字化和创造性毁灭[J]. 浙江大学学报(人文社会科学版), 2022, 52(12): 5-20.
Wang Miaojun. Distribution Digitization and Creative Destruction. JOURNAL OF ZHEJIANG UNIVERSITY, 2022, 52(12): 5-20.
1 Goolsbee A. & Klenow P. J.， “Valuing consumer products by the time spent using them： an application to the internet，” American Economic Review， Vol. 96， No. 2 （2006）， pp. 108-113. 2 Jo Y. J.， Matsumura M. & Weinstein D. E.， “The impact of e-commerce on relative prices and consumer welfare，” http：//www.nber.org/papers/w26506.pdf， 2022-07-08. 3 Dolfen P.， Einav L. & Klenow P. J. et al.， “Assessing the gains from e-commerce，” https：//www.nber.org/system/files/working_papers/w25610/w25610.pdf， 2022-07-08. 4 邬贺铨： 《“互联网+”行动计划：机遇与挑战》，《人民论坛·学术前沿》2015年第10期，第6-14页。 5 Yoo Y.， Henfridsson O. & Lyytinen K.， “Research commentary—the new organizing logic of digital innovation： an agenda for information system research，” Information System Research， Vol. 21， No. 4 （2010）， pp. 724-735. 6 Porter M. E. & Heppelmann J. E.， “How smart， connected products are transforming competition，” Harvard Business Review， Vol. 92， No. 11 （2014）， pp. 64-88. 7 Saldanha T.， Mithas S. & Krishnan M. S.， “Digital innovation， customer involvement， information technology， relational information processing capability， analytical information processing capability， business value of it，” MIS Quarterly， Vol. 41， No. 1 （2017）， pp. 367-396. 8 Grossman G. M. & Helpman E.， “Quality ladders in the theory of growth，” Review of Economic Studies， Vol. 58， No. 1 （1991）， pp. 43-61. 9 Aghion P. & Howitt P.， “A model of growth through creative destruction，” Econometrica， Vol. 60， No. 2 （1992）， pp. 323-352. 10 Klette T. J. & Kortum S.， “Innovating firms and aggregate innovation，” Journal of Political Economy， Vol. 112， No. 5 （2004）， pp. 986-1018. 11 Akcigit U. & Kerr W. R.， “Growth through heterogeneous innovations，” Journal of Political Economy， Vol. 126， No. 4 （2018）， pp. 1374-1442. 12 Brynjolfsson E. & Oh J.， “The attention economy： measuring the value of free digital services on the internet，” https：//conference.nber.org/conf_papers/f60747.pdf， 2022-07-08. 13 Redding S. J. & Weinstein D. E.， “Measuring aggregate price indices with taste shocks： theory and evidence for CES preferences，” The Quarterly Journal of Economics， Vol. 135， No. 1 （2020）， pp. 503-560. 14 Brown J. R. & Goolsbee A.， “Does the internet make markets more competitive？ evidence from the life insurance industry，” Journal of Political Economy， Vol. 110， No. 3 （2002）， pp. 481-507. 15 Goolsbee A. & Klenow P. J.， “Internet rising， prices falling： measuring inflation in a world of e-commerce，” 2018-05-30， https：//ssrn.com/abstract=3185922， 2022-07-08. 16 房超、马述忠： 《线下市场分割是否促进了企业线上销售——对中国电子商务奇迹的一种解释》，《经济研究》2020年第7期，第123-139页。 17 魏悦羚、张洪胜： 《跨境电商与出口产品质量升级：基于进口中间品搜寻视角的分析》，《宏观质量研究》2022年第3期，第79-91页。 18 Romer P. M.， “Increasing returns and long-run growth，” Journal of Political Economy， Vol. 94， No. 5 （1986）， pp. 1002-1037. 19 Romer P. M.， “Endogenous technological change，” Journal of Political Economy， Vol. 98， No. 5 （1990）， pp. 71-102. 20 Lucas R. E.， “On the size distribution of business firm，” The Bell Journal of Economics， Vol. 9， No. 2 （1978）， pp. 508-523. 21 Kortum S.， “Research， patenting and technology change，” Econometrica， Vol. 65， No. 6 （1997）， pp. 1389-1419. 22 Cai J. & Li N.， “Growth through intersectoral knowledge linkages，” Review of Economic Studies， Vol. 86， No. 5 （2019）， pp. 1827-1866. 23 Acemoglu D.， Akcigit U. & Alp H. et al.， “Innovation， reallocation and growth，” American Economic Review， Vol. 108， No. 11 （2018）， pp. 3450-3491. 24 Hsieh C. T. & Klenow P. J.， “Misallocation and manufacturing TFP in China and India，” The Quarterly Journal of Economics， Vol. 124， No. 4 （2009）， pp. 1403-1448. 25 林毅夫、董先安： 《信息化、经济增长与社会转型》，https：//max.book118.com/html/2016/1210/70453826.shtm，2022年7月8日。 26 罗珉、李亮宇： 《互联网时代的商业模式创新：价值创造视角》，《中国工业经济》2015年第1期，第95-107页。 27 郭家堂、骆品亮： 《互联网对中国全要素生产率有促进作用吗？》， 《管理世界》2016年第10期，第34-49页。 28 Gourio F. & Rudanko L.， “Customer capital，” https：//ssrn.com/abstract=1882159， 2022-07-08. 29 Foster L.， Haltiwanger J. & Syverson C.， “The slow growth of new plants： learning about demand，” Economica， Vol. 83， No. 329 （2016）， pp. 91-129. 30 Goldmains M.， Hortacsu A. & Syverson C. et al.， “E-commerce and market structure of retail industries，” https：//www.nber.org/papers/w14166， 2022-07-08. 31 Song M. Z.， Thomas D. & Wang M. J. et al.， “The rise of modern retail in China： an anatomy of the footwear industry （preliminary and incomplete），” 2019-03-16， https：//conference.nber.org/conf_papers/f116897.pdf， 2022-07-08. 32 Melitz M. J.， “The impact of trade on intra-industry reallocations and aggregate industry productivity，” Econometrica， Vol. 71， No. 6 （2003）， pp. 1695-1725. 33 Einav L.， Klenow P. J. & Levin J. D. et al.， “Customers and retail growth，” https：//www.nber.org/papers/w29561， 2022-07-08. 34 Scott J.， “Firm versus industry variability in R&D intensity，” https：//www.nber.org/system/files/chapters/c10051/c10051.pdf， 2022-07-08. 35 Klette T. J. & Johansen F.， “Accumulation of R&D capital and firm dynamic firm performance： a not-so-fixed effect model，” The Economics and Econometrics of Innovation， No. 49-50 （1998）， pp. 389-419. 36 Spence M.， “Job market signaling，” The Quarterly Journal of Economics， Vol. 87 （1973）， pp. 355-374. 37 Milgrom P. & Roberts J.， “Prices and advertising signals of product quality，” Journal of Political Economy， Vol. 94， No. 4 （1986）， pp. 796-821.
2022, Vol. 52 
