Population Aging,Human Capital Investment And Enterprise Export

Caused by low fertility rate and prolonged life expectancy,The trend of China 's population aging is becoming more and more obvious.Its development has severely challenged China 's development model,which is dominated by production and export of labor-intensive products.China is facing pressure to upgrade its industry and export structure.Based on empirical analysis using population data of 30 provinces as well as financial and export data of industrial enterprises from 2005 to 2013,we conduct an empirical analysis of the relationship between population aging and export of enterprises in different age-dependent skills-intensive industries,and the role that human capital investment play in the process of population aging affecting the export of different enterprises.Finally,this paper concludes as follows:(1)the aging population has a significant impact on the export of such enterprises in three different age-dependent skills-intensive industries;(2)The population aging can increase the export of enterprises in age-appreciating skill-intensive industries,and hinder the export of enterprises in age-depreciating skill-intensive and physical skill-intensive industries;(3)Regional human capital investment is conducive to weakening the negative impact of population aging on the export of enterprises in age-depreciating skills-intensive industries;(4)The current increase of human capital in the labor market mostly comes from young labor instead of elder labor,as well as the elder labor is generally less educated and less willingness to invest in human capital like knowledge updates and capacity improvement,which makes relatively decrease in the stock of human capital in age-appreciating skills-intensive industries hiring more elder labor.Therefore,human capital investment has not played a role in strengthening the positive impact of population aging on the export of age-appreciating skills-intensive industries.According to the above conclusions,this article provides a possible development direction for the upgrading of the export structure under the aging population trend and provides countermeasures for different skill-intensive industries.