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Efficiency of the Transition of Insurance Markets in South-Eastern European Post-Communist Countries

Author

Listed:
  • Safet Kozarevic

    (University of Tuzla, Bosnia and Herzegovina)

  • Laura Peressin

    (MIB School of Management, Trieste, Italy)

  • Giorgio Valentinuz

    (University of Trieste, Italy)

Abstract

This article focuses on the insurance markets transition process in ten South-Eastern Europe (SEE) post-communist countries. These insurance markets, characterized by a large number of small insurance companies, have been analyzed from several aspects in order to underline the main obstacles to their development. The research aims at identifying the relations between insurance market development and the European Union (EU) integration process as well as the overall economic development. To this end, indicators of the success in implementing these relevant processes have been identified and countries have been consistently ranked.

Suggested Citation

  • Safet Kozarevic & Laura Peressin & Giorgio Valentinuz, 2013. "Efficiency of the Transition of Insurance Markets in South-Eastern European Post-Communist Countries," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 11(2), pages 139-164.
    • Handle: RePEc:seb:journl:v:11:y:2013:i:2:p:139-164
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    File URL: http://www.asecu.gr/Seeje/issue21/issue21-kozarevic-peressin-valentinuz.pdf
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    References listed on IDEAS

    as
    1. Barbara Casu & Claudia Girardone, 2006. "Bank Competition, Concentration And Efficiency In The Single European Market," Manchester School, University of Manchester, vol. 74(4), pages 441-468, July.
    2. Peter Haiss & Kjell Sümegi, 2008. "The relationship between insurance and economic growth in Europe: a theoretical and empirical analysis," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 35(4), pages 405-431, September.
    3. Darko Tipuric & Mirjana Pejic Bach & Tomislava Pavic, 2008. "Concentration of the insurance industry in selected transition countries of Central and Eastern Europe, 1998-2006," Post-Communist Economies, Taylor & Francis Journals, vol. 20(1), pages 97-118.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Safet Kozarevic & Sanida Hodzic, 2021. "What drives life insurance purchasing decisions in Bosnia and Herzegovina?," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 24(3), pages 263-278, September.
    2. Martin Ertl, 2017. "Insurance Convergence and Post-crisis Dynamics in Central and Eastern Europe," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 42(2), pages 323-347, April.
    3. Gentiana Sharku & Sali Shehu, 2016. "Concentration of Albanian Insurance Market," Ekonomika a Management, Prague University of Economics and Business, vol. 2016(3).
    4. Achkasova Svitlana, 2017. "Determination of priority groups of indicators for threats identification to the financial security of insurance market," Technology audit and production reserves, 2(34) 2017, Socionet;Technology audit and production reserves, vol. 2(5(34)), pages 54-60.
    5. Tomislava Pavić Kramarić & Mirjana Pejić Bach & Ksenija Dumičić & Berislav Žmuk & Maja Mihelja Žaja, 2018. "Exploratory study of insurance companies in selected post-transition countries: non-hierarchical cluster analysis," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 26(3), pages 783-807, September.
    6. Akinlo Taiwo & Idachaba Daniel Adukwu, 2024. "Insurance and economic growth in sub-Saharan Africa: Institutional quality threshold effect," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 69(241), pages 7-39, April – J.
    7. Opeshko Nataliya & Hontar Daria & Kovalchuk Viktoriia, 2017. "Improving the assessment of the non-life insurance market development level in Ukraine," Technology audit and production reserves, 2(34) 2017, Socionet;Technology audit and production reserves, vol. 2(5(34)), pages 45-50.

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    More about this item

    Keywords

    Insurance; Transition; Post-Communist Countries; South-Eastern Europe;
    All these keywords.

    JEL classification:

    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • P30 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - General

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