 Does insurance promote economic growth: A comparative study of developed and emerging/developing economiesSajid Mohy Ul Din, Arpah Abu-Bakar and Angappan Regupathi Cogent Economics & Finance, 2017, vol. 5, issue 1, 1390029 Abstract: This paper examines the relationship between insurance and economic growth in 20 countries for the period 2006–2015. Insurance activity is measured through three distinctive proxies such as net written premiums, penetration and density. The Hausman statistics confirmed that fixed effect model is appropriate for this data-set. This study found a positive and a significant relationship between life insurance, measured through net written premiums and density, and economic growth for developed countries while the same is true for developing countries when insurance is measured through penetration proxy. The results also reveal that non-life insurance has statistically significant, for all three proxies, relationship with economic growth for developing countries whereas, in case of developed countries, the results are only significant when insurance density is used as a proxy for insurance. Moreover, the role of non-life insurance is more significant for developing countries as compared to developed countries. Date: 2017 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:oaefxx:v:5:y:2017:i:1:p:1390029 Ordering information: This journal article can be ordered from DOI: 10.1080/23322039.2017.1390029 Access Statistics for this article Cogent Economics & Finance is currently edited by Steve Cook, Caroline Elliott, David McMillan, Duncan Watson and Xibin Zhang More articles in Cogent Economics & Finance from Taylor & Francis Journals |
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