Abstract:This paper examines the relationship between insurance market development and economic growth and various conditions that affect the insurance-growth nexus. The conditions tested are degree of financial development, banking activity, and demographic profile of a country. The empirical study uses cross country panel data from 90 countries for the period 1995 to 2015 and applies Hausman-Taylor random effect model. The main findings confirm a positive non-linear relationship between insurance market development a… Show more
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