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- Title
THE DETERMINANTS OF NON-LIFE INSURANCE DEMAND IN CENTRAL AND SOUTHEASTERN EUROPE. AN EMPIRICAL PANEL INVESTIGATION.
- Authors
Poposki, Klime; Jordan, Kjosevski
- Abstract
The main purpose of this paper is to identify determinants of the demand of non-life insurance in 16 countries in Central and South- Eastern Europe (CSEE). We use fixed-effects panel model for the period 1998 - 2010 allowing each cross-sectional unit to have a different intercept term serving as an unobserved random variable that is potentially correlated with the observed regressors. We use two measures as a demand for non-life insurance: non-life insurance penetration non- life insurance density. The research results show that GDP per capita, number of passenger cars, gini coefficients, level of education and rule of law are the most robust predictors of the use of non-life insurance. Private credit, inflation,trade, population density, control of corruption and government effectiveness do not appear to be robustly associated with non-life insurance demand.
- Subjects
NONINSURABLE risks; DEMOGRAPHY; INSURANCE administration services; INSURANCE reporting services; CONDUCT of life
- Publication
Horizons Series A, 2014, Vol 13, p131
- ISSN
1857-856X
- Publication type
Article