Insurance market penetration and economic growth in Eurozone countries: Time series evidence on causality

Dash, Saurav; Pradhan, Rudra P.; Gaurav, Kunal; Zaki, Danish B.; Jayakumar, Manju

doi:10.1016/j.fbj.2017.11.005

Cited by 37 publications

(26 citation statements)

References 61 publications

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“…The long-term findings from this study show that the variable NOGDP is significant with a positive effect on ID, suggesting that higher contribution of non-oil sectors is advantageous to ID in Saudi Arabia. These results confirm those of Hemrit and Benlagha ( 2019 ), Dash et al ( 2018 ) and Pradhan et al ( 2017 ). One possible explanation for this effect could be the cocreation mechanism and flow of financial resources, working then to the participation of insurance companies in long-term investment financing.…”

Section: Descriptive and Empirical Resultssupporting

confidence: 91%

“…In addition, a change in INF or NOGDP causes a change in NPW, suggesting that a rapid positive change will affect ID. The ID–NOGDP growth connection supports the demand-following view (Dash et al 2018 ; Balcilar et al 2018 ). A unidirectional Granger causality runs from INF or NOGDP to GPRS, indicating that the stresses associated with the changes in leading economic indicators today create a broader set of geopolitical menaces.…”

Section: Descriptive and Empirical Resultssupporting

confidence: 67%

“…Thus, advocators of this theory tend to set up a free market system, which can mobilise resources for financial investment so as to promote macrofinancial stability and foster the emergence of growth-enhancing financial markets and intermediaries. For a scoping review of the extant empirical literature on this view of the insurance-growth nexus, see Lee and Lee ( 2020 ), Dash et al ( 2018 ), Pradhan et al ( 2017 ) and Haiss and Sümegi ( 2008 ).…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Does insurance demand react to economic policy uncertainty and geopolitical risk? Evidence from Saudi Arabia

Hemrit

2021

Geneva Pap Risk Insur Issues Pract

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Section: Descriptive and Empirical Resultssupporting

confidence: 91%

Section: Descriptive and Empirical Resultssupporting

confidence: 67%

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Does insurance demand react to economic policy uncertainty and geopolitical risk? Evidence from Saudi Arabia

Hemrit

2021

Geneva Pap Risk Insur Issues Pract

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“…In addition to the above literature, recent work by Dash et al () validates all four hypotheses for different European countries in research that examined the causal relationship between insurance market penetration and per capita economic growth in 19 Eurozone countries over the period 1980–2014.…”

Section: Literature Reviewmentioning

confidence: 71%

Does insurance‐growth nexus hold for Malaysia?

Anwer

Ahad

Imran

2019

Asian-Pac Economic Lit

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The study investigates the impact of insurance activities on economic growth in Malaysia over the period 1990–2015. Combined cointegration in the presence of identified structural breaks was used to confirm the existence of long‐run relationships among economic growth, insurance activities, human capital, physical capital, and industrial production. The findings indicate feedback effects between insurance activities and economic growth in the long run. The study provides new insights for policymaking to enhance economic growth via insurance activities.

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“…However, according to reference [12], insurance market effect is limited in some developing countries based due to the limited opportunities for the development of private insurers and foreign investors in countries with less economic development. Reference [4] study the relationship between insurance market penetration and the economic growth in Eurozone countries for the period 1980-2014.…”

Section: Literature Reviewmentioning

confidence: 99%

Insurance Sector Development and its Effect on the Financial Markets in Developing Countries: The Case of Kosovo

Baruti¹

2020

EJBMR

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The purpose of this paper is to extract the important factors in the nature of insurance companies and their direct role in the economic and financial system development. This market study aims to analyse the insurance system in Kosovo by determining and then analysing its structure, the degree of concentration of insurance companies on the insurance market, their behaviour towards price, number of participants, companies operating in this market and types of products and services they provide. Our analysis are gathered on statistical and qualitative data through the study of the theories on insurance market development in other countries. Furthermore, for the empirical analysis, we used secondary data from Central Bank of Kosovo, Insurance Companies and Association Insurance of Kosovo. Also, we conducted two surveys. First, we conducted a survey with finance managers from all insurance companies and secondary survey was in general, for people who work. This way we tried to get a better understanding of the issue at hand. The identification of these factors would enable insurance companies to design policies that tackle the demands of consumers for voluntary insurance policies and at the same time to contribute to financial stability of Kosovo’s economy. At the end we have to come out with conclusions on the main research question: Does Insurance Development affect the Financial Markets in developing countries? The expected outcome is that the insurance sector in Kosovo is an important factor for the further development of the financial system.

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Insurance market penetration and economic growth in Eurozone countries: Time series evidence on causality

Cited by 37 publications

References 61 publications

Does insurance demand react to economic policy uncertainty and geopolitical risk? Evidence from Saudi Arabia

Does insurance demand react to economic policy uncertainty and geopolitical risk? Evidence from Saudi Arabia

Does insurance‐growth nexus hold for Malaysia?

Insurance Sector Development and its Effect on the Financial Markets in Developing Countries: The Case of Kosovo

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