Insurance Market and Economic Growth in an Information-Driven Economy: Evidence from a Panel of High- and Middle-Income Countries?

Rudra P. Pradhan, Sahar Bahmani (), Rebecca Abraham () and John H. Hall ()
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Rudra P. Pradhan: Indian Institute of Technology Kharagpur
Sahar Bahmani: University of Wisconsin-Parkside
Rebecca Abraham: Nova Southeastern University
John H. Hall: University of Pretoria

Asia-Pacific Financial Markets, 2023, vol. 30, issue 3, No 7, 587-620

Abstract: Abstract The main focus of this investigation is potential Granger causal relationships between the insurance market, Information and Communications Technology (ICT) infrastructure, and economic growth in a sample of high- and middle-income countries (H&MICs) from 1980 to 2019. We deployed a panel vector autoregressive model, and found that in the long run, the insurance market and ICT infrastructure Granger-cause economic growth. In the short run, we found robust causal links, but they vary in nature. The findings suggest that H&MICs should base ICT infrastructure planning on strategies that endorse economic growth and policies that may also promote insurance market development. Graphical Abstract

Keywords: ICT infrastructure; Insurance market; Economic growth; H&MICs (search for similar items in EconPapers)
JEL-codes: E31 E44 O16 O43 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s10690-022-09390-8

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