Insurance market density and economic growth in Eurozone countries: the granger causality approach

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

doi:10.1186/s40854-017-0065-x

Cited by 27 publications

(15 citation statements)

References 68 publications

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“…The results show that biased and inconsistent results might be obtained by using the linear insurance premiums models. Pradhan et al (2017) found mixed some evidence on the relationship between insurance market density and economic growth in the Eurozone countries, both at the individual country level and at the panel setting. On some occasions, insurance market density leads to economic growth, lending support to supply-leading hypothesis of insurance market-growth nexus.…”

Section: Literature Reviewmentioning

confidence: 93%

The contribution of life and non-life insurances on ASEAN economic growth

Safitri¹

2019

10.5267/j.msl

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ASEAN is one of the regions with great potential of the world economic power. Countries included in the association of Southeast Asian countries are predicted to show strong economic growth. There are many factors for the development of the ASEAN region such as insurance industry. The Southeast Asian insurance industry, with a stable and long-term financial asset commitment, could play a bigger role in supporting the region's overall economic growth. This study aims at investigating the contribution of the insurance sector measured by three parameters; namely insurance penetration, insurance density and premium volume. The research was conducted to investigate the factors which are related to the insurance industry and could affect the economic growth of 6 countries; namely Singapore, Malaysia, Philippine, Thailand, Vietnam and Indonesia, in ASEAN area over the period 2005-2015 using a fixed effect model. The result revealed that premium volume of life insurance and non-life insurance, respectively, maintained positive and significant effects on the economic growth. Life insurance penetration and density also give significant effects on economic growth while non-life insurance penetration and density are not statistically significant for the economic growth.

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Section: Literature Reviewmentioning

confidence: 93%

The contribution of life and non-life insurances on ASEAN economic growth

Safitri¹

2019

10.5267/j.msl

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“…This results are consistent with previous studies focused on developing countries, one of them is revealed by Ul Din, Abu-Bakar, & Regupathi, (2017) life insurance penetration has positive and a significant relationship with economic growth in a developing/emerging countries. Pradhan, Dash, Maradana, Jayakumar, & Gaurav (2017) also showed there is an unidirectional causality from life insurance density to economic growth (GDP) for the countries in Eurozone. Another explanatory variable of labour workforce also generates a positive impact and increase the economic growth.…”

Section: R E S U L T Smentioning

confidence: 96%

The Impact of the Life Insurance on Economic Growth in ASEAN

Safitri¹

2018

Asia Pr soc sci

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The development of the insurance business in ASEAN has an impressive growth in the course of recent years. Reverse statement from OuÃ©draogo et al., (2016) who explained the level of life insurance development in developing countries remains low comparatively to developed countries. The ASEAN insurance industry, with the increasing number of insurance companies and people using insurance services, can even play a greater role in supporting overall economic growth in that region. This study aimed at examining the contribution of life insurance sector which is measured by three parameters e.g insurance penetration, insurance density and premium volume to the economic growth in the sample of 6 developing countries on ASEAN religion during 2005-2015 period i.e. Singapore, Malaysia, Phillipine, Thailand, Vietnam and Indonesia. The analytical method is applied by using fixed effect model. The result of this study showed that the life insurance premium volume, penetration and density have positive effects on economic growth.

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“…Su Chi-Wei et al [11] examined the relationship between insurance development and economic growth using the bootstrap panel Granger causality test, finding two-way Granger causality between life insurance and macroeconomics in high-income countries. Rudra P. Pradhan et al [12] used Granger causality [17] and Sajid Mohy Ul Din et al [18] believed that life insurance had a positive effect on economic growth when the time selection rate and productivity of human capital were sufficiently low or for India, Pakistan There are more studies on the relationship between insurance and economic growth, but less on the relationship between the development of insurance market and economic growth, while the research on the development of foreign capital insurance market and economic growth in China is a blank.…”

Section: Literature Reviewmentioning

confidence: 99%

The Development of Foreign Capital Insurance Market, FDI and Economic Growth in China

Wang¹,

Li²

2019

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This paper analyzes the relationship among foreign capital insurance market, FDI and economic growth in China. We use unit root test, least square regression and Granger causality test to examine the relationship with the data over the period 1984-2015. It is found that the development of China's foreign capital insurance market has not promoted China's economic growth, FDI has promoted China's economic growth, and China's economic growth has generally promoted the development of foreign capital insurance market. The channels of insurance market acting on economic growth are not smooth enough for foreign capital in China, and its action modes may be mainly applicable to China's domestic insurance market.

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Insurance market density and economic growth in Eurozone countries: the granger causality approach

Cited by 27 publications

References 68 publications

The contribution of life and non-life insurances on ASEAN economic growth

The contribution of life and non-life insurances on ASEAN economic growth

The Impact of the Life Insurance on Economic Growth in ASEAN

The Development of Foreign Capital Insurance Market, FDI and Economic Growth in China

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