LIBERALISATION, MARKET CONCENTRATION AND PERFORMANCE IN THE NON-LIFE INSURANCE INDUSTRY OF EX-YUGOSLAVIA

Vladimir Njegomir (), Dragan Stojic () and Dragan Markovic ()
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Vladimir Njegomir: Faculty for Legal and Business Studies, Novi Sad, Serbia
Dragan Stojic: University of Novi Sad, Serbia
Dragan Markovic: DDOR Novi Sad, Serbia

Economic Thought and Practice, 2011, vol. 20, issue 1, 21-40

Abstract: The aim of this paper is to examine market structure, liberalisation and performance relationship for the non-life insurance industry in the ex-Yugoslavia region. We use the country-speciï¬ c fixed effects models for panel data allowing each cross-sectional unit to have a different intercept term serving as an unobserved random variable that is potentially correlated with the observed regressors. Three models are presented, each placing market structure, liberalisation and profitability in distinct surroundings defined by related control variables. The research results indicate strong influence of market structure and liberalisation on market profitability.

Keywords: non-life insurance; market structure; profitability; ex-Yugoslavia region (search for similar items in EconPapers)
JEL-codes: G22 L10 (search for similar items in EconPapers)
Date: 2011
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