Reassessing the Nexus between Insurance Activities and Economic Growth in China Through Quantile Approaches

Guochen Pan (), Tsangyao Chang (), Mei-Chih Wang (), Mengqi Liu () and Iuliana Carmen Bărbăcioru ()
Additional contact information
Guochen Pan: Business School, Wuchang University of Technology, Wuhan, China. Corresponding author.
Tsangyao Chang: Department of Finance, Feng Chia University, Taichung, TAIWAN.
Mei-Chih Wang: Department of Finance, Providence University, Taichung, TAIWAN.
Mengqi Liu: Economics and Management School, Wuhan University, CHINA.
Iuliana Carmen Bărbăcioru: Department of Energy, Environment and Agrotourism ”Constantin Brâncusi” University of Târgu. Jiu.

Journal for Economic Forecasting, 2023, issue 4, 57-71

Abstract: This study reexamines the relationship between insurance activities and economic growth in China, employing both the Quantile approach and the Quantile-on-Quantile approach, which have rarely been used in the previous studies. It is identified that economic growth generally contains causal impacts on life/non-life insurance activities, and a feedback causal relation is identified at 0.1~0.5 quantiles. Results from Quantile_on_Quantile approach give more details about the causal relation of the nexus and find the relation varying at different quantiles. Furthermore, interest rate is found to affect the causal relations significantly. Our empirical results contain important implications for insurance policy making and insurance firm management in China.

Keywords: Insurance activities; economic growth; quantile approach; Quantile_on_Quantile approach; Granger causality (search for similar items in EconPapers)
JEL-codes: C22 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.ipe.ro/rjef/rjef4_2023/rjef4_2023p57-71.pdf

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:rjr:romjef:v::y:2023:i:4:p:57-71

Access Statistics for this article

Journal for Economic Forecasting is currently edited by Lucian Liviu Albu and Corina Saman

More articles in Journal for Economic Forecasting from Institute for Economic Forecasting Contact information at EDIRC.
Bibliographic data for series maintained by Corina Saman ( this e-mail address is bad, please contact ).