Insurance market density and economic growth in Eurozone countries:the granger causality approach  

作　　者：Rudra P.Pradhan Saurav Dash Rana Pratap Maradana Manju Jayakumar Kunal Gaurav 

机构地区：[1]Vinod Gupta School of Management,Indian Institute of Technology,Kharagpur 721302,India [2]KL University,Andhra Pradesh 522502,India

出　　处：《Financial Innovation》2017年第1期214-237,共24页金融创新（英文）

摘　　要：Background:This study examines the relationship between insurance market density(IMD)and economic growth.Methods:We employed Granger causality technique in 19 Eurozone countries for the period 1980-2014.We use three different indicators of IMD,namely life insurance density,non-life insurance density,and total insurance density.We particularly emphasize on whether Granger causality runs between IMD and economic growth both ways,one way,or not at all.Results:Our empirical result recognizes the presence of both unidirectional and bidirectional causality between insurance market density and economic growth.However,these results are mostly non-uniform across Eurozone countries.Conclusions:This study holds important policy implications-economic policies should recognize the differences in the insurance market density and economic growth in order to maintain sustainable economic growth in the Eurozone.

关 键 词：Insurance market density Economic growth Granger causality Eurozone countries 

分 类 号：F42[经济管理—产业经济]