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Human Development And Perceived Corruption As Key Factors Of Life Insurance

Author

Listed:
  • Gabriela-Mihaela Muresan

    (UBB FSEGA)

  • Gabriel Armean

Abstract

A commonly recognized proxy, life insurance penetration was used as a dependent variable in our analysis for the 28 EU countries during the period 2004 – 2014. We apply a panel data analysis to assess the influence of human development, corruption level, inflation, population growth, and employment rate to life insurance penetration. Our contributions resides in a new effort to understand the life insurance penetration in terms of behavioural finance. Moreover, our results shows that Human Development generates increases of the life insurance market.

Suggested Citation

  • Gabriela-Mihaela Muresan & Gabriel Armean, 2017. "Human Development And Perceived Corruption As Key Factors Of Life Insurance," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 443-451, July.
    • Handle: RePEc:ora:journl:v:1:y:2017:i:1:p:443-451
    as

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    References listed on IDEAS

    as
    1. Emily Norman Zietz, 2003. "An Examination of the Demand for Life Insurance," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 6(2), pages 159-191, September.
    2. Thorsten Beck & Ian Webb, 2003. "Economic, Demographic, and Institutional Determinants of Life Insurance Consumption across Countries," The World Bank Economic Review, World Bank, vol. 17(1), pages 51-88, June.
    3. Philip Chimobi Omoke, 2012. "Insurance Market Activity and Economic Growth: Evidence from Nigeria," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 2(2), pages 34-47, April.
    4. Mr. Francesco Grigoli & Alexander Herman & Klaus Schmidt-Hebbel, 2014. "World Saving," IMF Working Papers 2014/204, International Monetary Fund.
    5. Levin, Andrew & Lin, Chien-Fu & James Chu, Chia-Shang, 2002. "Unit root tests in panel data: asymptotic and finite-sample properties," Journal of Econometrics, Elsevier, vol. 108(1), pages 1-24, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    behavioral finance; life insurance; human development; panel data;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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