Volume 10, Issue 38 (12-2019)
jemr 2019, 10(38): 129-152 |
Back to browse issues page
Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:
Shahabadi A, Raghfar H, Solgi N, Moradi A. The Effect of National Competitiveness on Insurance Penetration in Selected Countries. jemr 2019; 10 (38) :129-152
URL: http://jemr.khu.ac.ir/article-1-1777-en.html
URL: http://jemr.khu.ac.ir/article-1-1777-en.html
1- Alzahra University , a.shahabadi@alzahra.ac.ir
2- Alzahra University
3- Islamic Azad University of Arak
2- Alzahra University
3- Islamic Azad University of Arak
Abstract: (3703 Views)
Insurance as a central risk-taking institution as well as one of the investment institutions increases economic participation, investment development and stimulating economic growth. Therefore, identification of the effective factors on the insurance penetration in developing countries seems necessary. In this regard, the present study attempted to investigate the impact of national competitiveness on insurance penetration coefficient in 20 developing countries during the period 2007-2017. The research model was estimated using panel data and generalized moment’s method in two case. In the first case, the sub-indicators of national competitiveness including basic requirements, efficiency enhancer’s factors and innovation and sophistication factors were used as key variables in the research, and in the second case, the overall competitiveness index is used as a key variable in the research model. The results showed that the effect of overall competitiveness index and its sub-indicators on insurance penetration was positive and significant. Also, the effect of control variables, including per capita income and urbanization rate on insurance penetration is positive and significant, and the effect of dependency ratio on insurance penetration is negative and significant.
Type of Study: Applicable |
Subject:
پولی و مالی
Received: 2019/06/14 | Accepted: 2020/03/18 | Published: 2020/04/23
Received: 2019/06/14 | Accepted: 2020/03/18 | Published: 2020/04/23
References
1. Arellano, M. & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies, 58(2): 277-297. [DOI:10.2307/2297968]
2. Asadi Gharagozlou, S., Daghighi Asl, A., Mahdavi., G. & Damankeshideh, M. (2019). Impact of globalization on insurance penetration of comparative comparison of perspective countries of Iran and developed countries. 26th National Conference on Insurance and Development, date 2019-12-4 by Insurance Research Institute, Tehran. (in persian).
3. Berg, H. V. D. & Schmidt, J. R. (1994). Foreign trade and economic growth: Time series evidence from Latin America. The Journal of International Trade and Economic Development: An International and Comparative Review, 3(3): 249-268. [DOI:10.1080/09638199400000016]
4. Brokesova, Z. & Vachalkova, I. (2016). Macroeconomic environment and insurance industry devel- opment: The case of Visegrad group countries. Central European Review of Economic, 19(2): 63-72.
5. Dragos, S. L., Mare, C., Dragota, I. M., Dragos, C. M. & Muresan. G. M. (2017). The nexus between the demand for life insurance and institutional factors in Europe: New evidence from a panel data approach. Economic Research-Ekonomska Istraživanja, 30(1): 1477-1496. [DOI:10.1080/1331677X.2017.1325764]
6. Ehiogu, C. P., Onyekachi, E. R. & Sunday, N. C. (2018). Effect of inflation rate on insurance penetration of Nigerian insurance industry. International Research Journal of Finance and Economics, 170(1): 66-76.
7. Esmaili, F., Mirzaei, H. & Asadzadeh, A. (2014). Factors affecting life insurance demand in developing selected countries. Iranian Journal of Insurance Reserch, 29(4): 61-83. (in persian).
8. Ghasemi, A. R. & Farzaneh, S. (2015). The impact of institutional factors and macroeconomic variables on Iranian insurance industry structure and selected countries. Journal of Insurance Research, 1(1): 35-54. (in persian).
9. Guerineau, S. & Sawadogo, R. (2015). On the determinants of life insurance development in Sub-Saharan Africa: The role of the institutions quality in the effect of economic development. Working Paper 201519.
10. Gupta, R., Lahiani, A., Lee, C. C. & Lee, C. C. (2019). Asymmetric dynamics of insurance premium: The impacts of output and economic policy uncertainty. Empirical Economics,57(6): 1959-1978. [DOI:10.1007/s00181-018-1539-z]
11. Hasanzadeh, A. & Kazemnejad, M. (2011). The role of information technology in the insurance industry business. 18th National and 4th International Conference on Insurance and Development In date 2011-11-29 by in Tehran was held.
12. Jahangard, E. (2011). Insurance and economic growth : The case of Iran's economy. Journal of Economic Research and Policies, 19(59) :53-80. (in persian).
13. Nouraei Motlagh, S., Lotfi, F., Mohajerzadeh, Z., Abolghasem Gorji, H. & Omranikhoo, H. (2016). A study of determinants on demand for life insurance in selected countries. Journal of Health Administration, 19(63) :9-20. (in persian).
14. Onafalujo, A. K. (2019). Underwriting performance shocks in the non-life Nigerian insurance industry and macroeconomic risks: A vector auto regressive approach. Economics and Organization, 16(2): 129-144. [DOI:10.22190/FUEO1902129O]
15. Peleckiene, V., Peleckis, K., Dudzeviciute, G. & Kestutis K. P. (2019). The relationship between insurance and economic growth: evidence from the European :union: countries. Economic Research-Ekonomska Istraživanja, 32(1): 1138-1151 [DOI:10.1080/1331677X.2019.1588765]
16. Sadegh, N., Sajadi, S. A. & Agili, S. V. (2013). The role of establishing e-government on efficiency of insurance companies (case study, Iran insurance company). Journal of Urban Management Studies, 5(16): 97-107. (in persian).
17. Sepehrdoust, H. & Ebrahimnasab, S. (2013). Good governance and life insurance demand; Economic challenges in developing countries. Quarterly Journal of The Macro and Strategic Policies, 1(3): 39-54. (in persian).
18. Sepehrdoust, H. & Ebrahimnasab, S. (2016). Impact of administrative-financial-corruption control on financial development of life insurance market. Iranian Journal of Insurance Reserch, 31(1): 81-101. (in persian).
19. Shahabadi, A., Ahmadi, M. & Moradi A. (2018). The interaction of financial development and economic freedom on insurance penetration unsuccessful countries in the development of the insurance industry. Journal of Economic Modeling Research, 8(31): 41-68. (in persian). [DOI:10.29252/jemr.8.31.41]
20. Shahabadi, A. & Sadeghi, H. (2012). Competitiveness assessment of OPEC member: with an emphasis on innovation-driven componets. Journal of roshde-fanavari, 8(29): 3-15. (in persian).
21. Shahikitash, M. N. (2013). A study of concept of competition in economics and it size in Iranian economy. Journal of Business Reviews, 11 (60): 1-16. (in persian).
22. Shirkavand, S. (2012). Monetary and financial organizations. Kavir Publications, First Edition. (in persian).
23. Soo, H. H. (1996). Life insurance and economic growth: theoretical and empirical investigation. University of Nebraska, Lincoln.
24. Van Wyk, J. (2010). Double diamonds, real diamonds: Botswana's national competitiveness. Academy of Marketing Studies Journal, 14(2): 55-76.
25. Vares, S. H., Mohammadi, S. & Parvandi, Y. (2012). On economic prosperity: Providing a model for improving national competetiveness of Iran. Iranian journal of management sciences, 7(26): 25-48. (in persian).
26. Yadollahzadeh Tabari, N., A. & Shahrokhi Sahneh, M. (2015). A study of relationship between risk avoidance and demand for life insurance. Second National Conference on Applied Economics and Management, date 2015-07-20 by in Babolsar was held. (in persian).
27. Yu, P. & Guo, P. (2014). An analysis of the synergy degree of insurance innovation and financial development in China. International Conference on Logistics Engineering, Management and Computer Science (LEMCS 2014) will be held from May 24 to 26, 2014, in Shenyang, China. [DOI:10.2991/lemcs-14.2014.132]
28. http://data.worldbank.org/data-catalog/world-development-indicators.
29. http://www.swissre.com/sigma.
Send email to the article author
| Rights and permissions | |
 | This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. |
