Insurance sector development and economic growth in transition countries

International Research Journal of Finance and Economics

Volumn 34, Issue , 2009, Pages 29-41

  Ćurak, Marijana ^a   Lončar, Sandra ^a   Poposki, Klime ^b  

^a UNIVERSITY OF SPLIT   (Croatia)

^b University of St Kliment Ohridski Bitola   (Macedonia)

Author keywords

Economic growth; Endogenous growth theory; Insurance; Panel analysis

Indexed keywords

EID: 72249110752     PISSN: 14502887     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (22)

1. Adams, M., J. Andersson, L.F. Andersson, and M. Lindmark, 2005. "The Historical Relation between Banking, Insurance and Economic Growth in Sweden: 1830 to 1998", Norges Handelshøyskole, Department of Economics Discussion Paper SAM, 26
2. Allen, F. and A. Santomero, 1998. "The Theory of Financial Intermediation", Journal of Banking and Finance, 21(11-12), pp. 1461-1485.
3. Ang, J.B., 2008. "A survey of recent developments in the literature of finance and growth", Journal of Economic Surveys, 22(3), pp. 536-576
4. Arena, M., 2006. "Does Insurance Market Promote Economic Growth? A Cross-Country Study for Industrialized and Developing Countries", Journal of Risk and Insurance, 75(4), pp. 921-946.
5. CEA (Comité Européen des Assurances), 2006. "The Contribution of the Insurance Sector to Economic Growth and Employment in the EU", http://www.cea.assur.org (referred on 22/02/2009)
6. Devereux, M.B. and G.W. Smith, 1994. "International Risk Sharing and Economic Growth", International Economic Review, 35 (4), pp. 535-550.
7. Diamond, D., 1984. "Financial Intermediation and Delegated Monitoring", Review of Economic Studies, 51(3), pp. 393-414.
8. Greenwood, J. and B. Jovanovic, 1990. "Financial Development, Growth, and the Distribution of Income", Journal of Political Economy, 98 (5), pp.1076-1107
9. Gurley, J.G. and E.S. Shaw, 1960. "Money in a Theory of Finance", The Brookings Institution, Washington
10. Haiss, P. and K. Sümegi, 2008. "The relationship between insurance and economic growth in Europe: a theoretical and empirical analysis", Empirica, 35 (4), pp. 405-431
11. Jappelli, T. and M. Pagano, 1994. "Saving, growth and liquidity constraints", Quarterly Journal of Economics, 109(1), pp. 83-109
12. Kugler, M. and R. Ofoghi, 2005. "Does Insurance Promote Economic Growth? Evidence from the UK", Working Paper, Division of Economics, University of Southampton, http://repec.org/mmfc05/paper8.pdf (referred on 23/02/2009)
13. Leland, H.E. and D.H. Pyle, 1977. "Informational Asymmetries, Financial Structure, and Financial Intermediation", The Journal of Finance, 32 (2), pp. 371-387.
14. Levine, R., 1997. "Financial Development and Economic Growth: Views and Agenda", Journal of Economic Literature, 35(2), pp. 688-726.
15. Merton, R.C. and Z. Bodie, 1995. "A Conceptual Framework for Analyzing the Financial Environment", in eds. D. B. Crane et. al., The global financial system, a functional perspective, Harvard Business School Press, pp. 3-31.
16. Pagano, M. 1993. "Financial markets and growth - An overview", European Economic Review, 37 (2-3), pp. 613-622
17. Pye, R.B.K., 2003. "The Evolution of the Insurance Sector in Central and Eastern Europe (CEE) and the Newly Independent States (NIS) of the Former Soviet Union", The 9th Dubrovnik Economic Conference organized by the Croatian National Bank: "Banking and the Financial Sector in Transition and Emerging Economies", Dubrovnik, June 26-28, 2003, http://www.hnb.hr/dub-konf/9-konferencija-radovi/robert-pye.pdf (referred on 15/12/2008)
18. Roubini, N. and X. Sala-i-Martin, 1992. "Financial Repression and Economic Growth", Journal of Development Economics, 39 (1), pp. 5-30.
19. Thiel M., 2001. "Finance and Growth - a review of theory and available evidence", European Commission Working paper, 158
20. Ward D. and R. Zurbruegg, 2000. "Does Insurance Promote Economic Growth? Evidence from OECD Countries", The Journal of Risk and Insurance, 67 (4), pp. 489-506.
21. Wadlamannati, K.C., 2008. "Do Insurance Sector Growth & Reforms Effect Economic Development? - Empirical Evidence from India", The Journal of Applied Economic Research, 2(1), pp. 43-86.
22. Webb, I., M.F. Grace, and H. Skipper, 2005. "The effect of banking and insurance on the growth of capital and output", SBS Revista de Temas Financieros (Journal of Financial Issues) 2(2), pp. 1-32