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Decisive Factors in the Evolution of the Insurance Market in Romania

Author

Listed:
  • Silviu-Valentin Carstina

    (University of Craiova, Faculty of Economics and Business Administration)

  • Radu Buziernescu

    (University of Craiova, Faculty of Economics and Business Administration)

  • Stelian Selisteanu

    (University of Craiova, Faculty of Economics and Business Administration)

Abstract

The evolution of the insurance market in relation to certain economic, social, educational factors is the central point of our research work. Thus, starting from statistical data from the period 2015 – 2022 on the eight development regions in Romania, we analyzed the existing correlation level between the insurance market represented by the density of gross premiums in the case of general insurance, viewed as a dependent variable and other factors such as: growth economic represented by GDP/capita; the standard of living reflected by the average net salary and the average/family income, but also the level of education of people from a certain region on bachelor's, master's and doctoral study cycles, as independent variables. With the help of the statistical program Eviews, we highlighted the level and type of correlation between the variables, at the same time, after testing with certain statistical methods, reaching the outline of a regression model.

Suggested Citation

  • Silviu-Valentin Carstina & Radu Buziernescu & Stelian Selisteanu, 2024. "Decisive Factors in the Evolution of the Insurance Market in Romania," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 597-603, August.
    • Handle: RePEc:ovi:oviste:v:xxiv:y:2024:i:1:p:597-603
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    More about this item

    Keywords

    insurance; economic growth; standard of living; level of education;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development

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