Impact of insurance on Economic growth: The Case of Republic of Macedonia

Kjosevski, Jordan (2011) Impact of insurance on Economic growth: The Case of Republic of Macedonia. European Journal of Business and Economics, 4. pp. 34-39.

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Abstract

The purpose of this paper is to examine the impact of
insurance and economic growth, with empirical analysis for
the Republic of Macedonia. We apply multiple regression
and control for other relevant determinants of economic
growth. The analysis used data for the period 1995 2010.
In order to solve the model in the analysis will use the
technique of least squares, followed by analysis of variability
in order to identify the effects of each variable. Insurance
development is measured by insurance penetration
(insurance premiums in percentage of GDP). We used three
different insurance variables life
insurance, nonlife
insurance and total insurance penetration. According to our
findings, insurance sector development positively and
significantly affects economic growth. The results are
confirmed in terms of nonlife
insurance, and, total
insurance, while the results show that life insurance
negatively affect economic growth.

Item Type:	Article
Subjects:	Scientific Fields (Frascati) > Social Sciences > Economics and Business
Depositing User:	UKLO Mrezha
Date Deposited:	27 May 2024 05:58
Last Modified:	27 May 2024 05:58
URI:	https://eprints.uklo.edu.mk/id/eprint/9996

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