The integration of life and non-life insurance in financial inclusion index

Shen Yap (), Hui-Shan Lee () and Ping-Xin Liew ()
Additional contact information
Shen Yap: Universiti Tunku Abdul Rahman
Hui-Shan Lee: Universiti Tunku Abdul Rahman
Ping-Xin Liew: Universiti Tunku Abdul Rahman

No 13015540, Proceedings of Economics and Finance Conferences from International Institute of Social and Economic Sciences

Abstract: Motivated by the lack of a harmonised financial inclusion measure in the existing literature which accounts for the role of insurance, this paper constructs a multidimensional financial inclusion index which incorporates life and non-life insurance indicators for 79 countries for the year 2019. The computed financial inclusion indices reveal higher financial inclusion in high-income countries in Europe region vis-à-vis that of medium-income countries from the Asian and African regions. When only life insurance indicators are considered, some countries leapfrogged in their financial inclusion level whereas most of the developed and developing countries see a decline in their financial inclusion. On the other hand, non-life insurance appears to have only marginal positive impact on overall financial inclusiveness in the sample countries. The findings of this study indicate the lack of contribution of the insurance spectrum of financial services to financial inclusion.

Keywords: Life Insurance; Non-Life Insurance; Financial Inclusion (search for similar items in EconPapers)
Pages: 10 pages
Date: 2022-07
New Economics Papers: this item is included in nep-fdg, nep-fle, nep-rmg and nep-sea
References: Add references at CitEc
Citations:

Published in Proceedings of the Proceedings of the 16th Economics & Finance Conference, Prague, Jul 2022, pages 189-198

Downloads: (external link)
https://iises.net/proceedings/16th-economics-finan ... 30&iid=016&rid=15540 First version, 2022

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sek:iefpro:13015540

Access Statistics for this paper

More papers in Proceedings of Economics and Finance Conferences from International Institute of Social and Economic Sciences
Bibliographic data for series maintained by Klara Cermakova ().