The Synergistic Effects Between Insurance and Credit Markets on Economic Growth: Evidence from China

Liu, Guanchun; He, Lei

doi:10.1080/1226508x.2015.1075897

Cited by 11 publications

(6 citation statements)

References 27 publications

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“…The potential social impact of this study is that the findings can create more opportunities for people to have sufficient life insurance coverage in the event of unexpected challenges, extend employment opportunities, and generate new businesses. Increasing business success 1) multiplies individuals' economic abilities; 2) enhances thriving local communities because individuals can have stable streams of incomes and jobs, and 3) mitigates sentiments of job insecurity, thereby leading to a balanced and healthier life for employees (Liu, Lee, & He, 2016). Community leaders could use the taxes that small business owners pay to provide social amenities and infrastructures that include libraries, roads, health centers, housings, and schools.…”

Section: Effective Business Practicementioning

confidence: 99%

“…Community leaders could use the taxes that small business owners pay to provide social amenities and infrastructures that include libraries, roads, health centers, housings, and schools. Leary et al (2014) and Liu et al (2016) asserted, growth in the life insurance business has direct bearings on nations' economies and aids in creating value and wealth for infrastructural developments and improvements. The findings could also influence social change by 1) providing information that leads to the expansion and sustainability of small business ventures; and 2) making the life insurance industry healthy enough to attract more investors, thereby contributing to United States' economic development.…”

Section: Effective Business Practicementioning

confidence: 99%

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Operational Plan Small Business Owners Use to Sustain Business

Jakes¹,

Burrus²

2022

OJBM

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The purpose of this multiple case study was to identify and explore the strategies that life insurance brokerage owners use to sustain business operations beyond 5 years. Porter's 5 forces model was served as the conceptual framework for exploring this subject matter. Owners of 3 separate small life insurance brokerage firms in Texas, who sustained their businesses beyond 5 years, participated in semistructured interviews. A secondary source of data was relevant to company documents. Methodological triangulation and member checking assured the reliability and validity of the interpretations. Through thematic analysis and supporting software, 5 themes emerged: exceptional customer service, relationship-building, efficient promotional strategies, regular training of salespersons, and hiring the right employees. Findings in this study supported the efforts of small business owners to improve strategies to sustain business operations beyond 5 years.

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Section: Effective Business Practicementioning

confidence: 99%

Section: Effective Business Practicementioning

confidence: 99%

Operational Plan Small Business Owners Use to Sustain Business

Jakes¹,

Burrus²

2022

OJBM

View full text Add to dashboard Cite

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“…In addition, credit expansion can also influence generous behavior and prosocial spending. Credit growth plays an important role in stimulating economic growth and is strongly associated with faster economic growth [68,69]. An interesting experiment by Kellner et al [70] showed that when people knew their income would increase, their donations would be higher.…”

Section: Moderating Hypothesismentioning

confidence: 99%

Does the Credit Cycle Have an Impact on Happiness?

Zhong

2019

IJERPH

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The 2008 international financial crisis triggered a heated discussion of the relationship between public health and the economic environment. We test the relationship between the credit cycle and happiness using the fixed effects model and explore the transmission channels between them by adding the moderating effect. The results show the following empirical regularities. First, the credit cycle has a negative correlation with happiness. This means that credit growth will reduce the overall happiness score in a country/region. Second, the transmission channels between the credit cycle and happiness are different during credit expansion and recession. Life expectancy and generosity can moderate the relationship between the credit cycle and happiness only during credit expansion. GDP per capita can moderate this relationship only during credit recession. Social support, freedom, and positive affect can moderate this relationship throughout the credit cycle. Third, the total impact of the credit cycle on happiness will become positive by the changes in the moderating effects. In general, we can improve subjective well-being if one of the following five conditions holds: (1) with the adequate support from the family and society, (2) with enough freedom, (3) with social generosity, (4) with a positive and optimistic outlook, and (5) with a high level of GDP per capita.

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“…5 Related to this, the risk tolerance capacity of the financial system is also important in determining the effect of greater exchange rate flexibility on financial risks (Zhang et al, 2016). Liu et al (2016) show that the interaction of insurance and credit markets in Chinese regions is also important for financial risks and economic growth. account balance to also be tightly controlled.…”

Section: China's Capital Account Policymentioning

confidence: 99%

Capital Account Liberalisation by China and the Effects on Global FDI and Trade

Verikios

2018

Global Economic Review

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We model the partial liberalisation of the capital account by China using a dynamic computable general equilibrium model of the world economy. Our results indicate that a reduced capital controls on FDI would lead to a significant increase in FDI capital in China and a significant reduction in the cost of capital in China relative to the rest of the world. Further, we observe an increase in capital stocks in most regions, which benefits most regions in terms of GDP and GNP. The Chinese economy grows by 3.3% driven by a significant fall in the rental price of capital that, in turn, lowers domestic costs, causes a real depreciation of the exchange rate and thus increased exports relative to other regions. We also observe an across-the-board increase in the saving rate driven by the rise in the price of consumption relative to investment (saving) in all regions. JEL codes:C68, E22, F21, F23, F38, F40.

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The Synergistic Effects Between Insurance and Credit Markets on Economic Growth: Evidence from China

Cited by 11 publications

References 27 publications

Operational Plan Small Business Owners Use to Sustain Business

Operational Plan Small Business Owners Use to Sustain Business

Does the Credit Cycle Have an Impact on Happiness?

Capital Account Liberalisation by China and the Effects on Global FDI and Trade

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