How does digital economy affect carbon emissions? Evidence from global 60 countries.

The digital economy is of great significant for countries to achieve carbon neutrality and carbon peak. Using country-level panel data from 2008 to 2018, this study empirically examined the impact of the development of the digital economy on carbon emissions and the associated transmission mechanisms by using the intermediary effect model. Our main findings are as follows. (1) The level of digital economy development varies greatly between countries, and the difference between "hyper-digitalized countries" and "under-connected countries" is increasingly obvious. (2) Development of the digital economy significantly reduces the carbon emission intensity, but promotes increases in the per capita carbon emissions. (3) Analysis shows that economic growth, financial development, and industrial structure upgrading play mediating roles between the digital economy and carbon emissions. Our study not only advances the study on digital economy and carbon emissions, but also provides a significant reference for policy makers to achieve carbon peak and carbon neutrality.