The Impact Of China's Aging Population On Technological Innovation

In the deepen of increasingly aging population,it is faced pressure and challenge in the high-quality development of economy,when technological innovation is seen to be the primary driving force and the strategic foundation to cope with it,The Communist Party of China Central Committee and the State Council have jointly unveiled a medium-and long-term plan for responding proactively to population aging pointed in 2019.This paper studies the relationship between aging population and the technological innovation of industry,and the impact of the heterogeneity characters on them.It is important to promote the technological innovation of industry and solve the problem of aging population with technological innovation.This paper studies present status of aging population and technological innovation in China,the relationship between aging population and technological innovation.And discusses the mechanism how aging population impact technological innovation in the perspective of heterogeneity as state-owned property right proportion,scale and technology density in industry.It is analyzed and tested based on China's Inter-provincial Panel Data.The result from regression analysis of two-way fixed effect model revealed that the relationship between the trend of aging population and the level of industry's technological innovation in China is notable inverted “U” type.Which means the level of the industry's technological innovation raises as the aging population grows,until it reaches the point of inflection,then the relationship between them reversed.While heterogeneity is taken into consideration,the aging population negatively influenced the technological innovation in state-owned enterprises,and it depresses the technological innovation in big and medium enterprises.The “U” type relationship is shown between aging population and the level of technological innovation of high technology density enterprises.And the aging population depresses the technological innovation in non-high technology density enterprises.Baes on the result,advises are given to promote the level of technological innovation and cope the problems bringing from aging population.