A Study of the Correlation between Economic Growth and Insurance in Developing Countries - the Case of the Republic of Macedonia

Topuzoska, Slagjana and Mecheski, Stevcho and Joldeska, Irina (2022) A Study of the Correlation between Economic Growth and Insurance in Developing Countries - the Case of the Republic of Macedonia. Multidisciplinary Research Journal “Olcinium”, 11 (2). pp. 42-50. ISSN 2661-2674

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Abstract

Every country strives for the development of insurance, because it is of exceptional importance for the entire economic system, due to the fact that it covers risks in the long term, as well as the significant savings component included in life insurance. There is a lot of research on the impact of insurance. In this paper, research has been done on the impact of insurance on economic growth in developing countries, with special reference to the Republic of Macedonia. The gross domestic product is used as a measure of economic growth, while the gross policy premium is used as a measure of insurance development. The results indicate that insurance has an impact on economic growth itself.

Item Type:	Article
Uncontrolled Keywords:	insurance, economic growth, gross domestic product, gross insurance premium, determinants
Subjects:	Scientific Fields (Frascati) > Social Sciences > Economics and Business Scientific Fields (Frascati) > Social Sciences > Other social sciences
Divisions:	Faculty of Tourism and Hospitality
Depositing User:	Prof. d-r Stevcho Mecheski
Date Deposited:	13 Feb 2023 13:48
Last Modified:	13 Feb 2023 13:48
URI:	https://eprints.uklo.edu.mk/id/eprint/7717

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