Does globalization affect the insurance markets? Bootstrap panel Granger causality test

Tsangyao Chang, Shu-Ching Cheng, Guochen Pan and Tsung-pao Wu

Economic Modelling, 2013, vol. 33, issue C, 254-260

Abstract: This study applies the bootstrap panel Granger causality test to identify whether globalization promotes insurance activity using data from Sigma reports of the Swiss Reinsurance Company of 8 Eastern Asian countries over the period of 1979–2008. Empirically, results for one-way Granger causality show the influence of insurance activity on globalization only in Japan. However, there is strong interaction causality between globalization and insurance activity in India, South Korea, and Thailand. In our research, the results show that the causality between globalization and insurance activity varies across countries under different conditions. The findings of this study could provide important policy implications for the 8 Eastern Asian countries under study, namely India, Indonesia, Japan, Malaysia, the Philippines, Singapore, South Korea, and Thailand.

Keywords: Globalization; Insurance markets; Bootstrap panel Granger causality test; Eastern Asia; Cross dependence (search for similar items in EconPapers)
JEL-codes: C22 C23 R11 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:33:y:2013:i:c:p:254-260

DOI: 10.1016/j.econmod.2013.04.008

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