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Beyond the S-curve : Insurance Penetration, Institutional Quality and Financial Market Development

Author

Listed:
  • Gine,Xavier
  • Barboza Ribeiro,Bernardo
  • Wrede,Peter Friedrich Wilhelm

Abstract

This paper provides new evidence of factors, other than GDP per capita, that correlate with the development of insurance markets. Based on 20 years of insurance premium data from 180 countries, and a similar wealth of data on institutions and financial market development, the paper presents important correlates of insurance market development. Although the analysis cannot identify which factors directly cause insurance market growth, the results suggest that interventions aimed at stimulating insurance supply and demand should take enabling factors, such as the quality of institutional governance and the degree of financial market development, into consideration.

Suggested Citation

  • Gine,Xavier & Barboza Ribeiro,Bernardo & Wrede,Peter Friedrich Wilhelm, 2019. "Beyond the S-curve : Insurance Penetration, Institutional Quality and Financial Market Development," Policy Research Working Paper Series 8925, The World Bank.
    • Handle: RePEc:wbk:wbrwps:8925
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    File URL: http://documents.worldbank.org/curated/en/272881561663514250/pdf/Beyond-the-S-curve-Insurance-Penetration-Institutional-Quality-and-Financial-Market-Development.pdf
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    Cited by:

    1. Mamadou Bah & Nelson Abila, 2024. "Institutional determinants of insurance penetration in Africa," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 49(1), pages 138-179, January.

    More about this item

    Keywords

    Insurance&Risk Mitigation; Economic Growth; Industrial Economics; Economic Theory&Research; Pollution Management&Control; Judicial System Reform; Financial Sector Policy;
    All these keywords.

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