The Determinants of Life Insurance Demand In Central and Southeastern Europe

Kjosevski, Jordan (2012) The Determinants of Life Insurance Demand In Central and Southeastern Europe. International Journal of Economics and Finance, 4 (3). pp. 237-247.

Text 2012 The determinants of life insurance demand in CSEE.pdf - Published Version Download (204kB)

Abstract

The main purpose of this study is to identify determinants of the demand of life insurance in 14 countries in Central
and South- Eastern Europe (CSEE). We use fixed-effects panel model for the period 1998 - 2010 allowing each
cross-sectional unit to have a different intercept term serving as an unobserved random variable that is potentially
correlated with the observed regressors. We use two measures as a demand for life insurance: life insurance
penetration and life insurance density. The research results show that higher, GDP per capita, inflation, health
expenditure, level of education and rule of law are the most robust predictors of the use of life insurance. Real
interest rates, ratio of quasi-money, young dependency ratio, old dependency ratio control of corruption and
government effectiveness do not appear to be robustly associated with life insurance demand.

Item Type:	Article
Subjects:	Scientific Fields (Frascati) > Social Sciences > Economics and Business
Depositing User:	UKLO Mrezha
Date Deposited:	27 May 2024 06:08
Last Modified:	27 May 2024 06:08
URI:	https://eprints.uklo.edu.mk/id/eprint/9993

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