Impact of Insurance Market on Economic Growth in Post-Transition Countries

Phutkaradze Jaba
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Phutkaradze Jaba: Ph. D. Student, Warsaw School of Economics

International Journal of Management and Economics, 2014, vol. 44, issue 1, 92-105

Abstract: The purpose of this work is to identify whether the development of an insurance market is linked to economic growth in former transition countries. A multiple regression analysis is employed to estimate the insurance-growth relationship, using a cross-country panel dataset analysis tracking annual total insurance penetration in 10 countries over the 2000-2012 period, and applying a fixed effect model to test the hypothesis that this linkage is demonstrably positive. The results show a negative and statistically non-significant correlation between insurance and GDP growth, suggesting a lack of evidence that insurance promotes economic growth in post-transition economies.

Keywords: insurance sector; GDP; total insurance penetration; economic growth; post-transition countries (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ijomae:v:44:y:2014:i:1:p:92-105:n:5

DOI: 10.1515/ijme-2015-0011

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