Transnational Innovation Networks, Population Aging and The Silver Economy: Challenges, Opportunities and the State of Play

Abstract

Globally, lower fertility rates combined with increased life expectancy and the transition of “baby boomers” toward retirement have contributed to an aging population in many societies. Ultimately, these demographic developments contain immense societal and economic implications for the public and private sectors. Subsequently, the term “Silver Economy” has been used to describe the delivery of products and services to older people, with a particular focus on leveraging Information Communication Technologies (ICTs) to improve the well-being of older citizens in multi-faceted domains: healthcare, the labor market, social care, mobility, housing, and many others. In an increasingly globalized knowledge economy, regional knowledge sharing, integration, and synergy can enable innovation in the Silver Economy and combat population aging. Transnational innovation networks (TINs) represent a pathway for achieving these goals. Although research exploring population aging, primarily from the EU, has grown in the literature over the past five years, there is a knowledge gap regarding transnational innovation approaches, platforms, and initiatives in the Silver Economy domain. Thus, this paper utilizes a literature review approach from a global perspective to survey the Silver Economy and population aging transnational innovation landscape. Our state-of-the-art review shows the importance of transnational knowledge flows enabled by TINs and subsequent innovations.