SOCIO-ECONOMIC VALENCES OF INSURANCE

Cristina Ungur

Contemporary Economy Journal, 2017, vol. 2, issue 2, 112-118

Abstract: One of the main concerns of economists is economic growth. In this paper we show that insurance is an instrument for influence economic growth. Also, we analyze the impact of social and economic factors on insurance sector development. Thereby, this paper shows that insurance and economy are two correlated dimension. The development of national insurance markets, especially life insurance sector, allows us to promote financial stability, to improve welfare, to develop business and innovation. At the same time, insurance helps government to improve the social security and to strengthen national budget. Al of this effects leads to GDP growth. The results of this paper could be useful for governments, especially in emerging countries, to improve economic growth by stimulative policies for the development of insurance industry.

Keywords: insurance; economic growth; investments; saves (search for similar items in EconPapers)
JEL-codes: G22 O43 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:brc:brccej:v:2:y:2017:i:2:p:112-118

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