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Investment In Education As A Key Determinant Of Agricultural Insurance Growth

Author

Listed:
  • Sofija Adzic

    (University of Novi Sad)

  • Dragan Stojic

    (University of Novi Sad)

Abstract

The main objective of this paper is to examine the impact of education, on decision tu purchase insurance. We measure the impact of education both through years of formal education and capital invested in research and development. The focus is on insurance in agriculture, due to the fact that Serbia, and it's prominent province of Vojvodina possess mainly agricultural lands. We use regression method incorporating several macro-economic variables as control variables: GDP per capita, index of economic freedom, foreign direct investments and private sector credit, to name few. Main results indicate significant and positive influence of education, as the educational elasticity of demand for insurance is significantly higher than one.

Suggested Citation

  • Sofija Adzic & Dragan Stojic, 2013. "Investment In Education As A Key Determinant Of Agricultural Insurance Growth," CBU International Conference Proceedings, ISE Research Institute, vol. 1(0), pages 118-124, June.
    • Handle: RePEc:aad:iseicj:v:1:y:2013:i:0:p:118-124
    DOI: 10.12955/cbup.v1.23
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    More about this item

    Keywords

    agriculture; insurance; human capital;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets

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