Insurance Market and Economic Growth in an Information-Driven Economy: Evidence from a Panel of High- and Middle-Income Countries?

The insurance sector provides protection to individuals and businesses against many types of risks and also promotes economic growth, being an important source of long-term capital. Analyzing factors that facilitate insurance sector development is important for both individuals and the entire economy. The purpose of this study is to investigate the relationship between information and communication technologies (ICT) represented by mobile cellular subscriptions per 100 people and individuals using the Internet (% of population) and insurance sector development represented by insurance company assets to GDP (%). Using data from 10 new member states of the European Union for the period 2000–2020, this study reveals a mutual interaction between ICT penetration indicators and insurance sector development. Furthermore, a regression analysis reveals that Internet penetration has a significant positive influence on insurance sector growth. Specifically, at the country level, the results indicate the existence of bidirectional causality between mobile cellular subscriptions and the insurance sector in Latvia, Poland, and Slovakia, and unidirectional causality between insurance and mobile cellular subscriptions in Estonia and Hungary.

show abstract

scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.

Contact Info

customersupport@researchsolutions.com

10624 S. Eastern Ave., Ste. A-614

Henderson, NV 89052, USA

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Blog Terms and Conditions API Terms Privacy Policy Contact Cookie Preferences Do Not Sell or Share My Personal Information

Made with 💙 for researchers

Part of the Research Solutions Family.

Insurance Market and Economic Growth in an Information-Driven Economy: Evidence from a Panel of High- and Middle-Income Countries?

Cited by 2 publications

References 55 publications

Insurance market development and economic growth in Africa: Contingencies and thresholds of structural transformation

Insurance market development and economic growth in Africa: Contingencies and thresholds of structural transformation

ICT Penetration and Insurance Sector Development: Evidence from the 10 New EU Member States

Contact Info

Product

Resources

About