AccScience Publishing / IJPS / Volume 9 / Issue 2 / DOI: 10.36922/ijps.0429
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RESEARCH ARTICLE

The older, the wiser and also the less innovative? An empirical analysis of the relationship between population aging and innovativeness

Gabriele Ruiu1* Marco Breschi1 Alessio Fornasin2
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1 Department of Economics and Business, University of Sassari, Sassari, Italy
2 Department of Economics and Statistics, University of Udine, Udine, Italy
IJPS 2023, 9(2), 61–74; https://doi.org/10.36922/ijps.0429
Submitted: 12 April 2023 | Accepted: 12 August 2023 | Published: 18 September 2023
© 2023 by the Author(s). This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution -Noncommercial 4.0 International License (CC-by the license) ( https://creativecommons.org/licenses/by-nc/4.0/ )
Abstract

Entrepreneurship is generally considered the engine of growth, given its role in introducing innovations into the economic system. Developed countries have already become a victim of rapid aging of their populations, while the similar trend has just started in developing countries. The previous literature has suggested that aging and nascent entrepreneurship are negatively related. This study investigated the relationship between aging and innovation using dynamic panel techniques. We found that the level of innovation activities represented by the number of patent applications is negatively related to aging. This association remains even after other demographic and institutional confounders are taken into account. We also found that education and flexibility of business regulations are positively related to innovation.

Keywords
Innovation
Population aging
Patents
Dynamic panel methods
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Conflict of interest
The authors declare they have no competing interests.
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