Peter Haiss, Kjell Sümegi
The role of the insurance sector and links into other financial sectors have grown in importance. While there is a plethora of research on the causal relationship between bank lending and economic growth and capital markets and economic growth, the insurance sector has not received ample attention in this respect. We fill this gap by reviewing theory and empirical evidence and identify channels of influence. We apply a cross-country panel data analysis using annual insurance premium data from 29 European countries over the 1992 to 2004 period. We find weak evidence for a growthsupporting role of life insurance and explain this with similarities to recent bank and stock sector findings.
Plačiau galima perskaityti čia: The relationship of insurance and economic growth – a theoretical and empirical analysis