RT Journal Article
SR Electronic
T1 Do Mauritians Have Altruistic Bequest Motives?
JF The Journal of Wealth Management
FD Institutional Investor Journals
SP 17
OP 24
DO 10.3905/jwm.2009.12.1.017
VO 12
IS 1
A1 Taruna Shalini Ramessur
YR 2009
UL https://pm-research.com/content/12/1/17.abstract
AB In this article, the author empirically tests for the presence of altruistic bequest motives in a small liquidity-constrained economy, Mauritius, by taking into account simultaneity and exogeneity issues. The results emanating from the econometric exercise reveal that Mauritians do transfer bequests to their heirs out of altruism implying that the policy implications of the “generational accounting” framework are not valid. The Error Correction Model further reveals that any short-run policy intended to increase bequests has to aim at increasing current real GDP to a value higher than last period real GDP.TOPICS: Wealth management, emerging, legal/regulatory/public policy