Socio-economic Dynamics of Social Insurance in Oman: A Model Approach
Omer Ali Ibrahim and
Additional contact information
Omer Ali Ibrahim: Postgraduate and Research Studies, College of Banking and Financial Studies, Muscat, Oman.
Sonal Devesh: Postgraduate and Research Studies, College of Banking and Financial Studies, Muscat, Oman.
International Journal of Economics and Financial Issues, 2020, vol. 10, issue 2, 37-47
The paper examines the socio-economic dynamics and challenges to the social insurance scheme in Oman, during the period 2002-2016, using secondary sources. The study adopts a confirmatory factor analysis (CFA), and develops a model to identify the determinants of social insurance coverage for active insured and elderly beneficiaries. The study finds evidence that social insurance coverage in Oman is low, amounting to 12.1 and 6.6% for the active insured and the elderly beneficiaries respectively. Results also show that the common economic factors that have an influence on social coverage for both groups include per capita GDP, the fixed capital formation and inflation, while globalization has an influence on the active insured only., Omanization is a common, non-economic factor for both groups, in addition to fertility rate for the active insured, and life expectancy for elderly beneficiaries. Economic factors were found to be more important than non-economic factors for social insurance coverage in Oman.
Keywords: Social Insurance Determinants; Active Insured; Elderly Beneficiaries; Confirmatory Factor Analysis; Public Authority for Social Insurance; Oman (search for similar items in EconPapers)
JEL-codes: C5 H55 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eco:journ1:2020-02-5
Access Statistics for this article
International Journal of Economics and Financial Issues is currently edited by Ilhan Ozturk
More articles in International Journal of Economics and Financial Issues from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().