Insurance and economic development growth, stabilization and distribution

Denis. Kessler, Amélie de. Montchatlin and Christian Thimann

ILO Working Papers from International Labour Organization

Abstract: Insurance is a largely invisible yet ubiquitous part of our economies. Our health, movements, purchases, homes, and even lives are usually covered by insurance. Without insurance, the unpredictability of the future would be too great and it would be difficult to take risks and innovate. In other words, insurance typically allows people to break the psychological and financial barriers which normally prevent them from engaging in potentially riskier activities thus forgoing greater reward and innovation. Insurance has contributed to macroeconomic development through economic growth, stabilization, distribution, and innovation.

Keywords: microinsurance; economic development (search for similar items in EconPapers)
Pages: 1 online resource (25 p.) pages
Date: 2016
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Published in Impact insurance working paper series

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Persistent link: https://EconPapers.repec.org/RePEc:ilo:ilowps:995186990502676

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