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The Relationship Between Insurance and Economic Growth

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  • Zekai Senol
  • Fatma Zeren
  • Mehmet Canakci

Abstract

Insurance business has several important functions within the economic structure such as providing insurance through the premiums collected by the insurance companies against the risks for the economic structure, managing these premiums collected through using the financial institutional role, risk management and transfer of the premiums into productive areas. While continuing on its activities, insurance business also enhances the economic development. In this study, a research on the relationship between insurance business and economic growth was conducted by using the data from 36 countries from the period between the years 1985- 2018.

Suggested Citation

  • Zekai Senol & Fatma Zeren & Mehmet Canakci, 2020. "The Relationship Between Insurance and Economic Growth," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 16(4), pages 145-155.
    • Handle: RePEc:mje:mjejnl:v:16:y:2020:i:4:145-155
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    References listed on IDEAS

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    2. Meytang Cédric & Ongo Nkoa Bruno Emmanuel, 2024. "Infrastructure development in sub-Saharan African countries: does insurance matter?," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 49(4), pages 747-778, October.
    3. Li, Xiaolong & Ozturk, Ilhan & Ullah, Sana & Andlib, Zubaria & Hafeez, Muhammad, 2022. "Can top-pollutant economies shift some burden through insurance sector development for sustainable development?," Economic Analysis and Policy, Elsevier, vol. 74(C), pages 326-336.

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