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- Title
Demand Following Hypothesis: Empirical Evidence from Insurance Sector of Emerging Asian Markets.
- Authors
SINGHAL, NIKITA; GOYAL, SHIKHA; SINGHAL, TANMAY
- Abstract
Using a two-step system GMM estimation, this study examines demand-following hypotheses (effect of macro-economic factors on insurance growth) on the sample of 19 emerging economies of Asia between 2007 and 2017. Effect of GDP is stronger in high income countries as compared to middle income countries. The positive significant impact of inflation exists only in middle income countries. A positive impact of trade openness and banking sector development is observed for both middle income and high income countries. Unemployment in high income countries doesn't have any significant impact on insurance premium.High old dependency ratio, young dependency ratio and populationhave significant positive impact on insurance premium in middle income countries but result was insignificant for high income countries.
- Subjects
ASIA; INDIA; HIGH-income countries; MIDDLE-income countries; EMERGING markets; MIDDLE class; INSURANCE premiums; INSURANCE; UNEMPLOYMENT
- Publication
Finance India, 2022, Vol 36, Issue 2, p777
- ISSN
0970-3772
- Publication type
Article