Does Economic Freedom in Host Countries Lead to Increased Non-Life Insurance Development?

Lee, Hui Shan; Chong, Shyue Chuan; Yap, Shen; Sia, Bik Kai; Chen, Ying Xi

doi:10.1177/21582440211054486

Cited by 3 publications

(4 citation statements)

References 48 publications

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“…The insurance policies provided to the women increases the position of financial resources. Similar to the current study, previous studies mentioned the relationship between credit, insurance and economic freedom (Ahmed et al, 2021;Bruneckiene et al, 2020;Lee et al, 2021;Liu & Liu, 2020). Therefore, the current study proposed that credit and insurance have positive role to promote women economic freedom leading to the following hypotheses.…”

Section: Green Microfinance Institutions and Women Economic Freedomsupporting

confidence: 83%

Social Responsibility of Green Microfinance Institutions: A Tool for Promoting Women’s Economic Empowerment in China

Pei

2024

Technological and Economic Development of Economy

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Economic freedom has central importance among the nations, however, Chinese economic freedom index declining continuously, leading to the several issues. Particularly, economic freedom is low among the Chinese female population. The world average of economic freedom index in 2022 based on 175 countries is 60 index points, but the Chinese index is 48. To address this issue, this study introduced green microfinance institutions based on Mayoux’s Feminist Empowerment Theory. The objective of this study is to examine the role of green microfinance institutions in women economic freedom in China. A survey questionnaire is used to collect data from female clients of microfinance institutions. 315 respondents responded to the survey and data analysis is carried out by using Structural Equation Modeling (SEM). Results of the study identified that, green microfinance institution’s services such as credit and insurance can facilitate green micro enterprises. The promotion of green micro enterprises causes to increase women economic security, leading to the economic freedom. Additionally, green microfinance policy is a critical factor to promote the positive relationship between green microfinance institution’s services and women economic freedom. Findings of this are helpful for the practitioners to increase women economic freedom in China by providing various services of green microfinance institutions.

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Section: Green Microfinance Institutions and Women Economic Freedomsupporting

confidence: 83%

Social Responsibility of Green Microfinance Institutions: A Tool for Promoting Women’s Economic Empowerment in China

Pei

2024

Technological and Economic Development of Economy

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“…In this way, data has no drastic shocks, arising from seasonality of scholar year. v) -inflationvariable used to reflect the price level in the economy and as a proxy for insurance price (Outreville, 1992;Lee at al., 2021;Çelik, Kayali, 2009); vi) -interest rateshort-term -3-month Euribor rate (monthly data was averaged into respective quarters) (Lee at al., 2021).…”

Section: Methodsmentioning

confidence: 99%

“…The majority of research papers examine insurance demand through practical approaches looking to variations of one variable, when adding different factor variables (Trinh et al, 2021;Kozarevića et al, 2013;Lee et al, 2021;Ondruska, 2018;Kjosevski, Petkovski, 2015;Seneta, 2013). One of the most used variables included in regression analysis is the level of income (Beenstock et al, 1988;Esho et al, 2004, Dragos 2014).…”

Section: Literature Reviewmentioning

confidence: 99%

“…The insurance business itself helps to remove uncertainty from either businesses or private consumers and transforms it into regular, pre-determined cash-flow. Moreover, this industry not only helps households and businesses, but it also contributes to the economy's development as a whole (Lee et al, 2021;Gupta et al, 2019;Chang, Lee, 2012;Outreville, 2014;Pradhan, et al, 2015). There are various ways identified, how it influences it, spanning from better trade and tax allocation to savings mobilization.…”

Section: Introductionmentioning

confidence: 99%

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Factors Influencing Non-Life Insurance Demand: Case of Lithuania

Malakauskienė¹,

Lakštutienė

Witkowska

2022

Management Theory and Studies for Rural Business and Infrastructure Development

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This paper studies factors affecting non-life insurance demand in Lithuania. The study identified variables that are important in analyzing the demand for non-life insurance and were applied in estimating multivariate VAR, Classical Granger, and Toda-Yamamoto causalities. Lithuania's case showed three significant causal relationships: positive -between non-life insurance demand and inflation and loss probability, negative -between density and short-term interest rate. Loss probability and short-term interest rate have been shown to be significant across all models. Inflation was deemed to be the effect of shift in demand rather than the cause.

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Contribution of the non-life insurance sector to the economic growth of Nepal: Analysis from the EGLS approach

Mani Upadhyaya,

Raj Kharel,

Prasad Aryal

et al. 2024

Insurance Markets and Companies

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Nepal’s non-life insurance sector holds immense potential to drive economic growth and boost the nation towards a secure financial future. Embracing this potential is a goal and a pivotal catalyst for substantial change. The study aims to determine how the non-life insurance sector can drive economic growth in Nepal. The methodology of this study uses quantitative analysis of financial data from 2013 to 2022 from 20 non-life insurance companies in Nepal and econometric modeling to assess the sector’s impact on economic growth. Using Panel EGLS (Estimated Generalized Least Squares) regression analysis, the findings show that with one-unit increments in total investment, total premium, and total tax paid, GDP is expected to change by approximately 591.52, –920.54 and 8,470.65 units, respectively. In contrast, the coefficient for total profit is –910.3477 and is not statistically significant. The study’s main conclusion implies that the insurance sector contributes to the country’s economic growth by investing in productive activities and paying taxes to the government. Still, it also imposes a cost on the economy by charging high premiums to the insured. The profitability of the insurance sector does not affect the GDP, which indicates that the insurance sector is competitive and efficient or that other factors determine the GDP besides the insurance sector. This study contributes to a deeper understanding of the non-life insurance sector’s role in Nepal’s economic development and informs evidence-based policy decisions.

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Does Economic Freedom in Host Countries Lead to Increased Non-Life Insurance Development?

Cited by 3 publications

References 48 publications

Social Responsibility of Green Microfinance Institutions: A Tool for Promoting Women’s Economic Empowerment in China

Social Responsibility of Green Microfinance Institutions: A Tool for Promoting Women’s Economic Empowerment in China

Factors Influencing Non-Life Insurance Demand: Case of Lithuania

Contribution of the non-life insurance sector to the economic growth of Nepal: Analysis from the EGLS approach

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