Abstract
This paper examines the bequest motives of Indian households in a context of changing demographic factors such as ageing and economic shocks such as the financial crisis of 2009, and demonetization...
Highlights
According to the United Nations Department of Economic and Social Affairs Population Division’s report on “Global and Regional Trends in Population Ageing”, 2017, the older population in developing regions is growing much faster relative to developed regions
We examine the bequest motives of Indian households in the context of changing demographic factors such as aging trends and the increasing percentage of the dependent population
Our study reveals that as self-interest increases the intention to bequest decreases
Summary
We examine the bequest motives of Indian households in the context of changing demographic factors such as aging trends and the increasing percentage of the dependent population. The report documents that the debts of Indian households show an unusual pattern of peaking towards the retirement age when they are no longer earning income It notes that the social arrangements through which households bequeath housing wealth to future generations is an important determinant of these patterns. The report argues that these traditional structures are increasingly under pressure due to shifting demographic patterns, and changes in social norms and economic conditions In this context, we explore the bequeathing behavior of Indian households. We attempt to spur a discussion about the bequest motives of Indian households in the prevailing context of rapidly changing demographic patterns, social norms, and economic conditions. In this paper, we focus on bequest behavior where the prospective donor received an inheritance from his/her forefathers
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