Location of Repository

Insurance Market Activity and Economic Growth: Evidence from Nigeria

By Philip Chimobi Omoke


The focus of this study is to empirically assess insurance market activities in Nigeria withthe view to determining its impact on economic growth. The period of study was 1970- 2008, thestudy made use of insurance density measures (premium per capita) as a measure for insurancemarket activity and real GDP for economic growth. It also employed control variables such asinflation and savings rate as other determinants ofgrowth. The Johansen cointegration and vectorerror correction approach was used to estimate therelationship between the variables. All thevariables used were stationary at first differenceand the result showed a long term relationshipexisting among the variables. The hallmark findingof this study is that the insurance sector did notreveal any positively and significant affect on economic growth in Nigeria within the period of study.The result shows a low insurance market activity inNigeria and that Nigerians have not fully embracethe insurance industry despite its importance to the growth of theeconomy

Topics: Insurance, Financial Intermediation, Economic growt h, Cointegration, Vector error correction approach, Business, HF5001-6182, Commerce, HF1-6182, Social Sciences, H, DOAJ:Business and Management, DOAJ:Business and Economics
Publisher: Danubius University
Year: 2012
OAI identifier: oai:doaj.org/article:3abc61935a3a401b9def59b69ebfd5a1
Download PDF:
Sorry, we are unable to provide the full text but you may find it at the following location(s):
  • https://doaj.org/toc/2067-340X (external link)
  • https://doaj.org/toc/2065-0175 (external link)
  • http://journals.univ-danubius.... (external link)
  • https://doaj.org/article/3abc6... (external link)
  • Suggested articles

    To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.