Interaction Between Population Aging and Technological Innovation: A Chinese Case Study
Xiang Li* and Xindong Zhao**,
*School of Economics and Finance, Huaqiao University
No. 269, Chenghua North Road, Fengze District, Quanzhou, Fujian 362021, China
**Institute of Quantitative Economics, Huaqiao University
No. 668, Jimei Avenue, Jimei District, Xiamen, Fujian 361021, China
Based on the method of unidirectional causality measure, this paper analyzes the long-term and short-term dynamic effects and causality between China’s population aging and technological innovation. According to the empirical results, first, the aging of the population will eventually have a continuous long-term impact, although it has little effect on the technology innovation in the short term. Second, when compared with the old-age dependency ratio, the child-raising ratio has a remarkable unidirectional causal effect on the technological innovation in the short term. Third, when compared with the old-age dependency ratio, the total dependency ratio has a stronger impact on the scientific and technological innovation ability, which is a long-term effect. The finding indicates that the elderly population and the children’s population have a continuous impact on China’s scientific and technological innovation, that is, the increase in social support burden affects the technological innovation for a long time.
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