The Influence of Aging on Technological Innovation: Empirical Evidence from China

Using panel data from 30 Chinese provinces for the period between 2003 and 2017, this paper explores the relationship between the aging and technological innovation. The global principal components analysis is used to construct the index system of technological innovation from three aspects: innovation input, innovation output and innovation diffusion. Then, the inverted U-shape relationship between population aging and technological innovation is obtained from the dynamic perspective by using two-step system generalized method of moments (SYS-GMM). The influence of population aging on technological innovation is firstly promoted and then suppressed. in addition, the degree of opening up, the level of economic development, the construction of network infrastructure and human capital all have positive impact on technological innovation.