Using econometrics to understand the endogenous relationship between life ınsurance and economic growth
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Dosyalar
Tarih
2016
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
The aim of this research is to analyze whether or not life insurance matters for economic growth taking
into account the possible endogenous relationship between economic terms of interest. Research problem
that is recognized based on research to date is low treatment of potential endogeneity problem between
life insurance and economic growth.To fill in this gap in literature, balanced panel data for 94 countries
during the period 1994-2013 are used in this analysis. The methodology used includes static panel data
estimators. Hausman test is used to decide between fixed and random effects. Moreover, Maximum
likelihood estimator is used to control for potential endogeneity issue. The obtained results indicate a
significant positive impact of life insurance and human capital on economic growth. Inflation and
government spending are reported to have negative impact while trade openness is not reported to have a
significant impact on economic growth. The model that does not control for the potential endogeneity
issue tends to underestimate the impact of life insurance on economic growth.Based on the obtained
results, several useful insights are given especially for policy makers and researches. The paper suggests
that, in order to enhance economic growth, the government should stimulate life insurance sector,
educational attainment and trade openness while it should reduce government spending and inflation
Açıklama
Anahtar Kelimeler
economic growth, endogenous relationship, life insurance, panel analysis
Kaynak
Book of Abstracts and Conference Proceedings
WoS Q Değeri
Scopus Q Değeri
Cilt
Sayı
Künye
Satrovic, Elma.(2016).Using econometrics to understand the endogenous relationship between life ınsurance and economic growth.
