Development under Regulation: The Way of the Ukrainian Insurance Market
Oleg Badunenko (),
Bogdana Grechanyuk and
No 644, Discussion Papers of DIW Berlin from DIW Berlin, German Institute for Economic Research
This study is intended to assess the introduction of increased capitalization requirements for Ukrainian insurance firms. To do so, we employ up-to-date frontier efficiency analysis. The analysis suggests that an increase in size occurs not only because of the regulator's requirements, but also because all scale inefficient firms have been persistently operating under increasing returns to scale. Additionally, we show that the Ukrainian insurance industry experiences significant increases in technical efficiency. Our analysis identifies winners and losers among small, medium and large companies. The findings are consistent with the hypothesis that regulation forces firms to concentrate on efficiency.
Keywords: insurance industry; efficiency and productivity analysis; returns to scale; bootstrap; Ukraine (search for similar items in EconPapers)
JEL-codes: G22 G28 C15 (search for similar items in EconPapers)
Pages: ca. 35 p.
New Economics Papers: this item is included in nep-eff, nep-ias and nep-tra
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Journal Article: Development Under Regulation: The Way of the Ukrainian Insurance Market (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:diw:diwwpp:dp644
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