An Empirical Study On The Impact Of Population Aging On Technological Innovation

Population problem is a persistent global topic,and its influence has penetrated into all aspects of a country’s social and economic development.At present,China’s economy has entered the "new normal",and the economy has also changed from high-speed development to high-quality development.However,to achieve high-quality development,it is far from enough to rely on factor driving alone,and it is necessary to rely on innovation driving.Under the background of the deepening of population aging and the popularity of technological innovation,it is of great practical and theoretical significance to clarify the impact of population aging on technological innovation for promoting China’s high-quality economic development and accelerating the construction of an innovative country,Therefore,this paper selects the relevant data of 30 provinces and autonomous regions except Tibet Autonomous Region from 2002 to 2018 to study the impact of population aging on technological innovation.First of all,this paper combs and summarizes the relevant literature of population aging and technological innovation,and then expounds the connotation and related theories of the two.Secondly,from the theoretical level,this paper analyzes the impact path of population aging on technological innovation,and then analyzes its impact mechanism,and puts forward three theoretical hypotheses.Then we use the data of various provinces in China from 2002 to 2018 to analyze the impact effect of the two.First,we build the static panel regression model and dynamic panel regression model,and use the multiple econometric method to estimate them.Then,we test the endogenous and robustness of the empirical results to consolidate the extraction of the causal relationship between the two.In order to eliminate the endogeneity of the model,tool variable 2SLS method is used to test the endogeneity of the model,and then bootstrap and substitution variable method are used to test the robustness of the model,Make the results more convincing.Finally,according to the empirical results,it puts forward some suggestions for China to deal with the challenges of the aging population to the development of technological innovation.Through the combination of theoretical and empirical research,this paper draws the following conclusions:(1)The deepening of the degree of population aging will hinder technological innovation.When the degree of population aging deepens by 1%,technological innovation will decline by 0.409%.Through the endogeneity test and robustness test,the results again verify that the aging population will hinder technological innovation.(2)Human capital is the intermediary variable of population aging affecting technological innovation.Population aging will hinder the accumulation of human capital and inhibit technological innovation 24.45% of the inhibition of technological innovation by population aging is achieved through human capital.(3)The burden of providing for the aged influences technological innovation for the aging population The aging population will increase the burden of providing for the aged,crowd out R &D funds,and hinder technological innovation.In the process of technological innovation affected by the aging population,25.67% of the burden is borne by the elderly.The contributions of this paper are as follows:(1)Integrating population aging and technological innovation into the same research framework further enriches the research on the impact of population aging on economic and social development.(2)Starting from multiple paths,this paper studies the impact of population aging on technological innovation,and clarifies the impact mechanism between the two.(3)This paper uses multiple econometric method to test the impact of population aging on technological innovation,and uses the intermediary effect method to verify the role of intermediary variables in the relationship between the two,to clarify the internal mechanism of the impact of the two,and uses multiple test method to test the empirical results,which makes the conclusion more rigorous,reliable and persuasive.