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A High-Frequency Digital Economy Index: Text Analysis and Factor Analysis based on Big Data

Author

Listed:
  • Xu, Yonghong
  • Su, Bingjie
  • Pan, Wenjie
  • Zhou, Peng

    (Cardiff Business School)

Abstract

We propose a high-frequency digital economy index by combining official white papers and big data. It aims to resolve the discrepancy between the new economic reality and old economic indicators used by decision-makers and policymakers. We have demonstrated a significant effect due to keyword rotations on the indices. Further analysis of the Dagum-Gini coefficient shows that spatial heterogeneity and temporal variation of the digital economy indices can be mainly attributed to between-group inequality.

Suggested Citation

  • Xu, Yonghong & Su, Bingjie & Pan, Wenjie & Zhou, Peng, 2024. "A High-Frequency Digital Economy Index: Text Analysis and Factor Analysis based on Big Data," Cardiff Economics Working Papers E2024/11, Cardiff University, Cardiff Business School, Economics Section.
    • Handle: RePEc:cdf:wpaper:2024/11
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    References listed on IDEAS

    as
    1. Peng Zhou & Huw Dixon, 2019. "The Determinants of Price Rigidity in the UK: Analysis of the CPI and PPI Microdata and Application to Macrodata Modelling," Manchester School, University of Manchester, vol. 87(5), pages 640-677, September.
    2. Zhou, Bo & Zhang, Ying & Zhou, Peng, 2021. "Multilateral political effects on outbound tourism," Annals of Tourism Research, Elsevier, vol. 88(C).
    3. Dagum, Camilo, 1997. "A New Approach to the Decomposition of the Gini Income Inequality Ratio," Empirical Economics, Springer, vol. 22(4), pages 515-531.
    4. Wojciech Charemza & Imran Husssain Shah, 2013. "Stability price index, core inflation and output volatility," Applied Economics Letters, Taylor & Francis Journals, vol. 20(8), pages 737-741, May.
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    Cited by:

    1. Mao, Jianhui & Yu, Bo & Guan, Chao, 2025. "Digital economy, official promotion pressure, and firm innovation," Global Finance Journal, Elsevier, vol. 64(C).
    2. Xu, Zhenhua & Xu, Wenhao & Xin, Daleng, 2025. "Digital–real economy integration and urban low-carbon development in China," Economic Analysis and Policy, Elsevier, vol. 86(C), pages 606-621.

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    Keywords

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    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis

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