Re-investigating the insurance-growth nexus using common factors

Miguel Rodriguez Gonzalez, Christoph Wegener and Tobias Basse

Finance Research Letters, 2022, vol. 46, issue PA

Abstract: This study re-investigates the linkage between insurance market activity and economic activity by using panel cointegration techniques. The methodology used here accounts for the presence of cross-sectional dependence. Considering nine panels formed from the data of 90 countries, we find evidence in favor of panel cointegration among real insurance market activity per capita and real GDP per capita.

Keywords: Insurance-growth nexus; Panel cointegration; Cross-sectional dependence (search for similar items in EconPapers)
JEL-codes: C12 C23 G22 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:46:y:2022:i:pa:s1544612321002907

DOI: 10.1016/j.frl.2021.102231

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