The relationship between insurance growth and economic development - 80 empirical papers for a review of the literature

The objective is to examine the determinants of the relationship between insurance growth and economic development. This paper contributes to this body of research by providing an extensive literature review of empirical studies that have looked at both sides of the relationship, i.e. the demand side (economic growth is an explanatory variable among other factors that affect the demand) and the development side (insurance is a determinant of growth).Insurance demand, financial development¸ economic growth.

FINANCIAL DEVELOPMENT, HUMAN CAPITAL AND POLITICAL STABILITY

In this paper we take a look at the empirical relationship between the level of financial development and socio-economic variables reflecting different levels of development in the light of the recent literature on the role of human capital in economic development. The empirical results, based on a cross-sectional analysis of 57 developing countries, indicate that human capital and socio-political stability are important factors explaining the level of financial development of these markets.

Fusions et économies de dimension sur le marché des assurances générales au Québec

À l’aide d’une analyse de régression en coupe instantanée l’auteur tente de mesurer l’importance des économies de dimensions dans l’industrie des assurances générales avant 1978 et d’expliquer l’augmentation des fusions dans cette industrie, au Québec, entre 1978 et 1981. Les deuxième et troisième sections portent sur la question du choix d’une approche pertinente au problème de mesure des économies de dimension dans cette industrie. La dernière partie présente les résultats empiriques.Cross section regressions are used to evaluate the extent of economies of scale in the property-liability insurance industry prior to 1978 and to explain the increased number of mergers between 1978 and 1981 in the Quebec market. The second and third section of this paper discusses the appropriate approach to the problem of measuring economies of scale in the insurance industry. The fourth section describes the data and the empirical results

Fusions et économies de dimension sur le marché des assurances générales au Québec

Cross section regressions are used to evaluate the extent of economies of scale in the property-liability insurance industry prior to 1978 and to explain the increased number of mergers between 1978 and 1981 in the Quebec market. The second and third section of this paper discusses the appropriate approach to the problem of measuring economies of scale in the insurance industry. The fourth section describes the data and the empirical results. À l’aide d’une analyse de régression en coupe instantanée l’auteur tente de mesurer l’importance des économies de dimensions dans l’industrie des assurances générales avant 1978 et d’expliquer l’augmentation des fusions dans cette industrie, au Québec, entre 1978 et 1981. Les deuxième et troisième sections portent sur la question du choix d’une approche pertinente au problème de mesure des économies de dimension dans cette industrie. La dernière partie présente les résultats empiriques.

Un exemple de l’utilisation des méthodes de l’analyse des données dans la démarche scientifique en économie

The purpose of this paper is both to report on a new methodology in the field of automatic classification, and to discuss the need of these many techniques which are referred to as factor analysis. The paper is designed to explore one group of procedures and to illustrate with a specific example that such a methodology can lead to an awareness of the problem and to a better understanding and forecasting of economic phenomena

The Willingness to Pay for Cider Products: Results of a Survey on Habits and Consumption Behavior

Purpose : The objective of the paper is to investigate the impact of habits and consumption behavior on the willingness to pay (WTP) for cider by surveying young consumers. Method : The analysis is based on a questionnaire distributed to a group of 433 French business students from December 2017 to January 2018. Specifically, the questionnaire is designed to test whether young consumers would pay a premium price or not for quality ciders with respect to a traditional sweet cider with similar characteristics. We are modelling the premium that consumers are willing to pay for an organic cider, a farmer cider and rosé cider. To accommodate the feature of a significant proportion of zero or negative premiums in dependent variables, the Heckman two-stage estimation procedure is performed. Results : Results show that the young generation consider cider as a cheap, festive and non-organic beverage and is willing to pay a premium for quality ciders like specifically rosé and farmer ciders. Conclusion : The results from this research have useful implications not only for the cider market but also in the understanding of the characteristics of competitive beverages that young consumers may prefer and value

Underwriting Apophenia and Cryptids: Are Cycles Statistical Figments of our Imagination?

This paper re-examines the evidence in favour of the existence of underwriting cycles in property and casualty insurance and their economical significance. Using a meta-analysis of published papers in the area of insurance economics, we show that the evidence supporting the existence of underwriting cycles is misleading. There is, in fact, little evidence in favour of insurance cycles with a linear autoregressive character. This means that any cyclicality in firm profitability in the property and casualty insurance industry is not predictable in a classical econometric framework. It follows that pricing in the property and casualty insurance industry is not incompatible with that of a competitive market

Rentabilité technique et cycles en assurance I.A.R.D. au Canada

The underwriting cycle has been the subject of much recent discussion in the insurance industry. The typical explanation is that this cycle, if indeed it exists, is a supply-side phenomenon. The purpose of this paper is to provide some measure of this cycle for the Canadian market and to show that variables usually considered to explain these fluctuations are not significant in this market