Insurance Development and Economic Growth

Financial Statistical Journal

View Publication Info
 
 
Field Value
 
Title Insurance Development and Economic Growth
 
Creator Lee, Huishan
 
Subject insurance development, economic growth, regional analysis, life insurance, non-life insurance
 
Description This study aims to investigate the effect of continent and initial GDP per capita level of a country on the relationship between insurance activities and economic growth. This study considers panel data consists of 123 countries from 1967 to 2014. Both static panel model and dynamic panel model are used to evaluate the effect of both continent and initial GDP per capita level of a country to the economic growth. The findings show significant causal relationship between insurance development and economic growth. However, the relationship is varied in different countries due to different initial income levels and locations. The effect of insurance development on economic growth of a country is indirect because it depends on the performance of the investment of insurers. Therefore, policymakers should consider their own country’s special characteristics when formulating a policy. Policymakers should clearly understand the nature of their insurance sector such as interconnectedness between financial sector and insurance sector, whether to promote insurance sector to grow their economy. By understanding the effect of continent and the initial GDP per capita level, policymakers could formulate and implement more effective policies on their country’s insurance sector to ensure the prosperity of the country’s economic growth.
 
Publisher EnPress Publisher LLC
 
Contributor
 
Date 2019-02-26
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier https://systems.enpress-publisher.com/index.php/FSJ/article/view/1057
10.24294/fsj.v1i4.1057
 
Source Financial Statistical Journal; Vol 1, No 4 (Published)
2578-1960
10.24294/fsj.v1i4
 
Language eng
 
Relation https://systems.enpress-publisher.com/index.php/FSJ/article/view/1057/828
 
Rights Copyright (c) 2018 HuiShan Lee
http://creativecommons.org/licenses/by-nc/4.0
 

Contact Us

The PKP Index is an initiative of the Public Knowledge Project.

For PKP Publishing Services please use the PKP|PS contact form.

For support with PKP software we encourage users to consult our wiki for documentation and search our support forums.

For any other correspondence feel free to contact us using the PKP contact form.

Find Us

Twitter

Copyright © 2015-2018 Simon Fraser University Library