Are Insurance Premiums Stationary in China?

Guochen Pan, Sen-Sung Chen and Tsangyao Chang

Chinese Economy, 2016, vol. 49, issue 1, 45-55

Abstract: This study applies the sequential panel selection method (SPSM), proposed by Chortareas and Kapetanios (2009), to investigate the time-series properties of insurance premiums in China. This method can clearly identify how many and which series in a panel are stationary processes by classifying a whole panel into a group of stationary series and a group of nonstationary series. Time-series data of the total insurance premiums collected from 36 regions in China during the period from January 2006 to December 2011 are used. The empirical results from the SPSM and several other panel-based unit-root tests are compared, and the SPSM tests unequivocally indicate that insurance premiums are stationary for most of the 36 regions under study. Our test results have important economic and policy implications for China.

Date: 2016
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DOI: 10.1080/10971475.2016.1114405

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