SELECTION OF THE OPTIMAL WAY OF DEVELOPMENT FOR THE OIL DEPENDENT ECONOMY OF KAZAKHSTAN

Wang Ying ()
Additional contact information
Wang Ying: Macroeconomy and Strategy Institute & PICC Asset Management Co. Ltd., China

Eurasian Journal of Economics and Finance, 2018, vol. 6, issue 2, 21-30

Abstract: Among banking, securities, and insurance industries in the field of finance; insurance industry was opened earliest and most thoroughly. Starting from 1980 when foreign insurance companies were allowed to set up representative offices, China's insurance industry has undergone nearly 40 years of opening-up. Under the background of China's proposal to further enhance the opening-up of the financial industry, this paper assesses the actual opening-up of the insurance industry since 2004 from the three dimensions such as the number of Chinese-foreign joint-venture insurance companies, the premium income of foreign-funded insurance companies, and the asset size of foreign-funded insurance companies. The Mattoo method was used to measure the openness of the insurance industry since 1992. The results show that the openness of China's insurance industry will reach the international advanced level after 2020 as a whole, but it will take a longer period for the life insurance industry to reach the level of developed countries. At present, the main problem facing China's insurance industry is not excessive opening-up but the inadequacy of openness and industry competitiveness.

Keywords: Insurance Industry; Openness; Enhanced Supervision; High-Quality Development (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://eurasianpublications.com/wp-content/uploads/2021/02/EJEF-6.2.3.pdf (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ejn:ejefjr:v:6:y:2018:i:2:p:21-30

Access Statistics for this article

Eurasian Journal of Economics and Finance is currently edited by Xuan Vinh Vo

More articles in Eurasian Journal of Economics and Finance from Eurasian Publications
Bibliographic data for series maintained by Esra Barakli ().