Abstract This paper examines the causal relationship between insurance market penetration and per capita economic growth in 19 Eurozone countries for the period — With regard to the logarithmic linear model, it is often assumed that: Moreover, and in line with the international evidence for developed countries, a two-way effect between the financial sector and the insurance sector with economic growth is found. Table 7 Estimates of growth rate of China's insurance industry — Billion Yuan. Among the variables of interest, insurance density is higher in the non-life segment than in life insurance. The variable is intended to show the value of human capital in the economic performance of the countries.
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Panel data analysis allows us to exploit cross-country and time-series variation in life insurance consumption and directs us to investigate which economic and institutional factors give rise to a vibrant life insurance market. In particular, while life insurance consumption is positively related to national income and banking sector development, it is negatively related to inflation. Trade, capital and schooling are positive and statistically significant. This finding supports arguments in favor of the relevance of the insurance industry to foster economic prosperity. In consideration of the different characteristics of life and non-life insurance, however, we will prefer the latter option and separately estimate the models for world life and non-life insurance growth curves, which will be much more precise than an entire-industry estimation. Wen , for example.
The Chinese Insurance Market: Estimating its Long-Term Growth and Size | SpringerLink
Evidence from OECD countries. However, no causal relationship between insurance use and economic growth was properly established. Abstract This paper examines the long-run causal relationship between insurance penetration and economic growth in Ghana from to Theoretically, the market exchange rate method considers the real exchange rate in an international market, and is a reasonable way to depict the reality. Geneva Papers Risk Insurance,
The effect of banking and insurance on the growth of capital. They found no significant relationship for the whole data set. Banco Central de Chile. In addition, the regulatory variables including the governance of law and quality of rules and regulations, the political factors including issues of political stability and democracy have positive and significant effect on life insurance demand. Financial Development in Latin America and the Caribbean: