Finance and growth: new evidence on the role of insurance

W.N.w Azman-Saini and Peter Smith

MPRA Paper from University Library of Munich, Germany

Abstract: This paper provides new evidence that sheds light on the the impact of insurance sector development on output growth, capital accumulation, and productivity improvement, using data from 51 countries (developed and developing) during 1981-2005. The dynamic panel data analysis results demonstrate that insurance sector development affects growth predominantly through productivity improvement in developed countries, while in developing countries it promotes capital accumulation.

Keywords: Insurance; financial development; economic growth; productivity growth; capital accumulation (search for similar items in EconPapers)
JEL-codes: G22 O16 O40 (search for similar items in EconPapers)
Date: 2010-11-11
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Citations: View citations in EconPapers (5)

Published in South African Journal of Economics 2.79(2011): pp. 111-127

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Related works:
Journal Article: FINANCE AND GROWTH: NEW EVIDENCE ON THE ROLE OF INSURANCE (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:65836

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