In the digital era, data capital has become a new production factor and a driving force for technological innovation. Using panel data from 31 provinces in mainland China from 2012 to 2019, this paper constructs a method for estimating the value of data capital (consists of raw data and structured data) in each region and verifies the positive role of data in enhancing regional export technological sophistication (ETS). Moreover, this paper explores the innovation mechanism through which data enhances ETS and analyzes the interaction between data and various other production factors in different types of innovation. Moreover, through a heterogeneous analysis of exports to different types of regions worldwide, we investigate how these cross-border export patterns, influenced by different knowledge spillover effects, play varying moderating roles in the impact of data on enhancing ETS. Specifically, exporting to regions with higher knowledge or technological compatibility enhances the role of data capital in improving ETS, better leveraging the new data-based resource advantage. We believe this research makes a meaningful contribution to the literature on international knowledge spillovers by deepening our understanding of their dynamics and implications, and also offers valuable policy and practical insights into the evolving data-driven economy and emerging patterns of cross-border exports.
