Merits of Life Insurance


Textbook, 2018
183 Pages, Grade: 14

Abstract or Introduction

In this book linear panel data estimators are employed to investigate the relationship between life insurance and economic growth. This study contributes to previous studies by using Maximum likelihood estimation of dynamic panel that was not used in previous studies concerning the aforementioned relationship; by controlling for number of factors thought to influence economic growth; by referring to a much larger number of countries and by exploring the relationship between life insurance and economic growth while controlling for the degree of financial sector development, as well as for the regional and income disparities. Sixteen models that explore the impact of control variables integrated singly in the equations and an integrated model that controls for the impact of all key variables are estimated. Empirical results reveal a significant positive relationship between life insurance and economic growth in models -. Education is reported to have a positive impact on economic growth. Government spending is found to have a negative impact on economic growth, while model reports that inflation has a negative impact on economic growth. Trade openness is not reported to have a significant impact on economic growth in model. Model reveals a significant positive impact of banking sector on economic growth; significant negative impact of non-life insurance sector while stock market is not reported to have a significant impact. An integrated model that controls for the impact of all key variables gives a strong support to the results obtained in models -. Results of models - that attempt to control for the importance of regional disparities indicate that a significant positive relationship between life insurance and economic growth is reported for all regions but South Asia and North America. Models - that additionally control for differences in levels of development reveal a significant positive relationship between life insurance and economic growth in high-, middle- and low-income countries.

Details

Title
Merits of Life Insurance
College
University of Sarajevo
Grade
14
Author
Year
2018
Pages
183
Catalog Number
V439587
ISBN (eBook)
9783668792753
ISBN (Book)
9783668792760
Language
English
Tags
insurance, economic, growth, life, financial, education
Quote paper
Elma Satrovic (Author), 2018, Merits of Life Insurance, Munich, GRIN Verlag, https://www.grin.com/document/439587

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