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Does the pattern of age dependency matter in the promotion of financial development in an emerging economy?

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  • Mantu Kumar Mahalik
  • John Nkwoma Inekwe
  • Kuntal Kumar Das
  • Umakant Dash
  • Augustine C. Arize

Abstract

In this study, we examine the financial development effect of population aging pattern in India. We examine the period 1960 to 2017 and analyse the various types of age dependency, which includes both old and young measures. By using structural VAR and ARDL techniques, we find that changes in young age dependency have a significant impact on changes in financial development in India while dependency by the old generation does not affect it. This study suggests that government and policymakers should protect the health, longevity and working conditions of young age people for the promotion of better financial development in India.

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  • Mantu Kumar Mahalik & John Nkwoma Inekwe & Kuntal Kumar Das & Umakant Dash & Augustine C. Arize, 2022. "Does the pattern of age dependency matter in the promotion of financial development in an emerging economy?," Applied Economics, Taylor & Francis Journals, vol. 54(48), pages 5622-5637, October.
    • Handle: RePEc:taf:applec:v:54:y:2022:i:48:p:5622-5637
    DOI: 10.1080/00036846.2022.2047605
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    More about this item

    JEL classification:

    • F39 - International Economics - - International Finance - - - Other
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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