The Impact of Population Aging on Digital Economy: A Perspective on Human Capital
Research Article
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The Impact of Population Aging on Digital Economy: A Perspective on Human Capital

Yuhao Zhang 1*
1 Shanghai University of Finance and Economics
*Corresponding author: 2023110436@stu.sufe.edu.com
Published on 22 October 2025
Journal Cover
AEMPS Vol.231
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-80590-463-2
ISBN (Online): 978-1-80590-464-9
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Abstract

As China moves into a stage of deep population aging, demographic transitions are increasingly reshaping patterns of economic development. Drawing on provincial panel data spanning 2013 to 2022, this study employs a panel threshold model to explore the dynamic interactions among aging, digital economy expansion, and human capital accumulation. The results indicate that, in general, population aging exerts a dampening effect on digital economic growth. However, the extent of this impact is contingent upon the level of human capital: inadequate human capital significantly constrains digital progress, while higher levels of human capital can offset demographic pressures and even foster digital development. Moreover, notable regional disparities emerge. In the eastern provinces, the effect of aging on digitalization is statistically insignificant, whereas in the central, western, and northeastern regions, aging generates pronounced negative consequences. These findings suggest that to mitigate demographic challenges and harness the opportunities of an aging society, it is essential to integrate the “silver economy” with digital transformation, enhance digital literacy and adaptability among older populations, and address regional imbalances in digital economy advancement, thereby promoting more coordinated and inclusive growth.

Keywords:

Digital Economy, Population Aging, Human Capital, Threshold Model

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Zhang,Y. (2025). The Impact of Population Aging on Digital Economy: A Perspective on Human Capital. Advances in Economics, Management and Political Sciences,231,93-102.

References

[1]. Javaid, M., Haleem, A., Singh, R. P., & Sinha, A. K. (2024). Digital economy to improve the culture of Industry 4.0: A study on features, implementation and challenges. Green Technologies and Sustainability.

[2]. Xu, J., & Li, W. (2022). The impact of the digital economy on innovation: New evidence from panel threshold model. Sustainability.

[3]. Zhu, T., Chen, X., Zhang, W., & Sharp, B. (2023). Analysis of the spatial–temporal evolution of the digital economy and its impact on the employment structure in China from 2001 to 2020. Sustainability.

[4]. Cheng, M. Y., & Wang, Y. L. (2024). Study on the mechanism and effect of digital infrastructure driving changes in employment structure. Economic Issues Exploration, 133–153.

[5]. Zhang, B. (2002). Analysis of the socio-economic consequences of population aging in China and policy options. Macroeconomic Research, 27–33.

[6]. Ngoc, B. T., & Mai, T. T. (2023). The impact of population aging on economic development in Vietnam. Journal of Multidisciplinary Science Mikailalsys.

[7]. Wang, M. J. (2025). The impact of population aging on digital economy development. SME Management and Technology, 74–76.

[8]. Bi, R. J. (2023). Study on the impact of population aging on the digital economy [Master’s thesis, Shandong University of Finance and Economics].

[9]. Han, Z. B. (2022). Population aging, pension income distribution, and economic growth [Doctoral dissertation, Liaoning University].

[10]. Che, N. (2022). How the digital economy responds to the challenges of aging. Financial Review (Wealth), 42–43.

[11]. Liu, J., Yang, Y. Y., & Zhang, S. F. (2020). Measurement and driving factors of China’s digital economy. Shanghai Economic Research (Issue 6).

[12]. Zhao, T., Zhang, Z., & Liang, S. K. (2020). Digital economy, entrepreneurial activity, and high-quality development: Empirical evidence from Chinese cities. Management World (Issue 10).

References

[1]. Javaid, M., Haleem, A., Singh, R. P., & Sinha, A. K. (2024). Digital economy to improve the culture of Industry 4.0: A study on features, implementation and challenges. Green Technologies and Sustainability.

[2]. Xu, J., & Li, W. (2022). The impact of the digital economy on innovation: New evidence from panel threshold model. Sustainability.

[3]. Zhu, T., Chen, X., Zhang, W., & Sharp, B. (2023). Analysis of the spatial–temporal evolution of the digital economy and its impact on the employment structure in China from 2001 to 2020. Sustainability.

[4]. Cheng, M. Y., & Wang, Y. L. (2024). Study on the mechanism and effect of digital infrastructure driving changes in employment structure. Economic Issues Exploration, 133–153.

[5]. Zhang, B. (2002). Analysis of the socio-economic consequences of population aging in China and policy options. Macroeconomic Research, 27–33.

[6]. Ngoc, B. T., & Mai, T. T. (2023). The impact of population aging on economic development in Vietnam. Journal of Multidisciplinary Science Mikailalsys.

[7]. Wang, M. J. (2025). The impact of population aging on digital economy development. SME Management and Technology, 74–76.

[8]. Bi, R. J. (2023). Study on the impact of population aging on the digital economy [Master’s thesis, Shandong University of Finance and Economics].

[9]. Han, Z. B. (2022). Population aging, pension income distribution, and economic growth [Doctoral dissertation, Liaoning University].

[10]. Che, N. (2022). How the digital economy responds to the challenges of aging. Financial Review (Wealth), 42–43.

[11]. Liu, J., Yang, Y. Y., & Zhang, S. F. (2020). Measurement and driving factors of China’s digital economy. Shanghai Economic Research (Issue 6).

[12]. Zhao, T., Zhang, Z., & Liang, S. K. (2020). Digital economy, entrepreneurial activity, and high-quality development: Empirical evidence from Chinese cities. Management World (Issue 10).

Cite this article

Zhang,Y. (2025). The Impact of Population Aging on Digital Economy: A Perspective on Human Capital. Advances in Economics, Management and Political Sciences,231,93-102.

Data availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

About volume

Volume title: Proceedings of ICEMGD 2025 Symposium: Resilient Business Strategies in Global Markets

ISBN: 978-1-80590-463-2(Print) / 978-1-80590-464-9(Online)
Editor: Florian Marcel Nuţă, Li Chai
Conference website: https://2025.icemgd.org/CAU.html
Conference date: 20 September 2025
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.231
ISSN: 2754-1169(Print) / 2754-1177(Online)

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