The Relationship Between Insurance and Economic Growth
Küçük Resim Yok
Tarih
2020
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Economic Laboratory Transition Research Podgorica-Elit
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Insurance business has several important functions within the economic structure such as providing insurance through the premiums collected by the insurance companies against the risks for the economic structure, managing these premiums collected through using the financial institutional role, risk management and transfer of the premiums into productive areas. While continuing on its activities, insurance business also enhances the economic development. In this study, a research on the relationship between insurance business and economic growth was conducted by using the data from 36 countries from the period between the years 1985-2018. Results of the panel causality test introduced by Dumitrescu and Hurlin (2012) indicated that there is a mutual causality between life insurance business and economic growth & a one-way causality from economic growth to the non-life insurance business. These results bring the conclusions that rather than the non-life insurance business, life insurance business brings contributes more to the economic growth with the long term and regular resources that it provides.
Açıklama
Anahtar Kelimeler
Insurance, Economic Growth, Panel Causality
Kaynak
Montenegrin Journal of Economics
WoS Q Değeri
N/A
Scopus Q Değeri
Q2
Cilt
16
Sayı
4
