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Determinants of The Life Insurance Demand: The Case Of Turkey

Year 2021, Volume: 35 Issue: 2, 407 - 427, 18.04.2021
https://doi.org/10.16951/atauniiibd.729438

Abstract

References

  • ALIN, A. (2010). Multicollinearity. Wiley Interdisciplinary Reviews: Computational Statistics, 2(3), 370-374.
  • ALHASSAN, A. L. ve BIEKPE, N. (2016). Determinants of life insurance consumption in Africa. Research in International Business and Finance, 37, 17-27.
  • ANDREWS, D. W. ve MONAHAN, J. C. (1992). An improved heteroskedasticity and autocorrelation consistent covariance matrix estimator. Econometrica: Journal of the Econometric Society, 953- 966.
  • BABBEL, D. F. (1979). Measuring inflation impact on life insurance costs. Journal of Risk and Insurance, 425-440.
  • BECK, T. ve WEBB, I. (2003). Economic, Demographic, and Institutional Determinants of Life Insurance Consumption across Countries. The World Bank Economic Review, 17(1), 51-88.
  • BROWNE, M. J. ve KIM, K. (1993). An international analysis of life insurance demand. Journal of Risk and Insurance, 616-634.
  • BURIC, M N., SMOLOVIC, J. C., BOZOVIC, M. L. ve FILIPOVIC, L. (2017), Impact of Economic Factorson Life Insurance Development in Western Balkan Countries, Vol 35, No 2, 331-352.
  • ÇELİK, S., & KAYALİ, M. M. (2009). Determinants of demand for life insurance in European countries. Problems and perspectives in management, (7, Iss. 3), 32-37.
  • CHEN, P. F., LEE, C. C.,ve LEE, C. F. (2012). How does the development of the life insurance market affect economic growth? Some international evidence. Journal of International Development, 24(7), 865-893.
  • CUMMINS, D., CRAGG, M., ZHOU, B. ve deFONSEKA, J. (2018), The Social and Economic Contributions of the Life Insurance Industry, The Brattle Group. HOOD, C. C., ASHLEY, J. D. ve Findley, D. F. (2000, October). An empirical evaluation of the performance of TRAMO/SEATS on simulated series. In Proceedings of the American Statistical Association, Business and Economic Statistics Section. Alexandria VA: American Statistical Association, 171-176.
  • HOŞGÖR, Ş., AKPINAR, Ö. ve KIRKBEŞOĞLU, E. (2014), Hayat Sigortaları, E. Kırkbeşoğlu içinde, Risk Yönetimi ve Sigortacılık (s.382-396)Ankara: Gazi Kitabevi.
  • HWANG, T. ve GAO, S. (2003). The determinants of the demand for life insurance in an emerging economy-the case of China. Managerial Finance, 29(5-6), 82-96.
  • KJOSEVSKİ, J. (2012). The determinants of life insurance demand in central and southeastern Europe. International Journal of Economics and Finance, 4(3), 237-247.
  • KUMAR, S. (2014). Financial development as an instrument of economic growth in India: evidence from cointegration and causality analysis. IUP Journal of Applied Economics, 13(4), 28.
  • NOOR, N. N. M., ZAIN, Z. M., MA’IN, M. ve ATORY, N. A. A. (2020). A Cointegration Analysis Of The Demand Of Life Insurance In Malaysia. International Journal of Advanced Research in Economics and Finance, 2(1), 48-60.
  • SANJEEWA, W. S., HONGBING, O. ve Hashmi, S. H. (2019). Determinants of Life Insurance Consumption in Emerging Insurance Markets of South-Asia. International Journal of Information, Business and Management, 11(4), 109-129.
  • SATROVIC, E. ve MUSLIJA, A. (2018). Economic and Demographic Determinants of the Demand for Life Insurance: Multivariate Analysis. Yönetim ve Ekonomi Araştırmaları Dergisi, 16(1), 102-115.
  • SRBINOSKI, B. (2019) Life Insurance Demand and Borrowing Constraints. http://aso.mk/wp-content/uploads/2019/11/trub_br1.pdf
  • LAURENT, D. ve KIVYIRO, P. (2015). Macroeconomic and Demographic Determinants of Demand of Life Insurance: A case of Kenya, Nigeria, and South Africa. Chronicle of the Neville Wadia Institute of Management Studies & Research, 221-233.
  • LI, D., MOSHIRIAN, F., NGUYEN, P. ve Wee, T. (2007). The demand for life insurance in OECD countries. Journal of Risk and Insurance, 74(3), 637-652.
  • LENTEN, L. J. ve RULLI, D. N. (2006). A time-series analysis of the demand for life insurance companies in Australia: an unobserved components approach. Australian Journal of Management, 31(1), 41-66.
  • MAPHARING, M., OTUTEYE, E. ve RADIKOKO, I. (2015), Determinants of Demand for Life Insurance: The Case of Canada, Journal of Comparative International Management, Vol 18, No 2, 1-22.
  • MELNYCHUK, Y., CHVERTKO, L., KORDIIENKO, T. VINNYTSKA.O. ve GARMATIUK, O. (2019), Analysis of the Factors Influencing the Market of Insurance Services in Life Insurance, TEM Journal, Volume 8, Issue 1.
  • MITRA, D. ve GHOSH, D. (2010). Determinants of life insurance demand in India in the post economic reform era (1991-2008). International journal of business management, economics and information technology, 2(1), 19-36.
  • OUTREVILLE, J. F. (1996). Life insurance markets in developing countries. Journal of Risk and Insurance, 63(2), 263-279.
  • RUDEBUSCH, G. D., WILSON, D. J. ve MAHEDY, T. (2015). The puzzle of weak first-quarter GDP growth. FRBSF Economic Letter 2015:16. 1-4.
  • ZERRIAA, M., AMIRI, M. M., NOUBBIGH, H. ve NAOUI, K. (2017). Determinants of life insurance demand in Tunisia. African Development Review, 29(1), 69-80.
  • SİGMA DERGİSİ (2011), 2009 Yılında Dünya Sigortacılığı, No: 2/2010, 18 Nisan 2020 tarihinde https://www.swissre.com/institute/research/sigma-research/sigma- 2010-02.html adresinden alındı.
  • SİGMA DERGİSİ (2019), 2018 Yılında Dünya Sigortacılığı, No: 3/2018, 18 Nisan 2020 tarihinde, https://www.swissre.com/institute/research/sigma-research/sigma-2018- 03.html adresinden alındı.
  • T.C. Hazine ve Maliye Bakanlığı (2019), Sigortacılık ve Bireysel Emeklilik Faaliyetleri Hakkında Rapor-2018, 18 Nisan 2020 tarihinde https://www.hmb.gov.tr/sigortacilik-ve-ozel-emeklilik-raporlari adresinden alındı.

Hayat Sigortası Talebinin Belirleyicileri: Türkiye Örneği

Year 2021, Volume: 35 Issue: 2, 407 - 427, 18.04.2021
https://doi.org/10.16951/atauniiibd.729438

Abstract

Hayat sigortası bireyleri risklere karşı korurken aynı zamanda tasarruf yapabilmelerini de sağlamaktadır. Sigortanın bir parçası olan hayat sigortası ülke ekonomisinin uzun vadeli tasarruflar ile ekonomik büyümesine katkıda bulunmaktadır. Hayat sigortasının hem bireyler hem de ülke ekonomisi için önemine rağmen, gelişmekte olan ülkelerde hayat sigortası prim hacminin gelişmiş ülkelerin oldukça gerisinde kaldığı görülmektedir. Hayat sigortası talebinin belirleyicilerinin ortaya konulması hayat sigortası sektörünün gelişimi açısından büyük önem arz etmektedir. Bu çalışmanın amacı, Türkiye'de hayat sigortası talebinin ekonomik, finansal ve demografik belirleyicilerini ortaya koymaktır. Literatür taramasında farklı ülkelerinde yer aldığı panel veri ve çapraz kesit örneklemlerinde Türkiye’nin yer aldığı ancak Türkiye özelinde hayat sigortası talebi araştırmalarının sınırlı olduğu görülmüştür. Bu bağlamda, 2009-2019 yıllar arasında çeyreklik verilerle zaman serisi analizi gerçekleştirilmiştir. Araştırmada Türkiye’de hayat sigorta talebini belirleyen faktörler olarak gelir, enflasyon, faiz oranı, finansal derinleşme, finansal sistemin karmaşıklığı ve nüfus değişkenleri ele alınmıştır. Model tahmini sonucunda tüm değişkenlerin anlamlı etkide bulunduğu görülmüştür. Ekonomik değişken olarak gelir değişkeni pozitif etkide bulunmuştur. Enflasyon ve reel faiz oranı beklendiği üzere negatif yönde etkileyen ekonomik değişkenler olmuştur. Finansal derinleşmenin pozitif etkiye sahip olduğu tespit edilmiştir. Finansal yapının karmaşıklığı faktörü negatif etkili saptanmıştır. Son olarak, demografik değişken olarak ele alınan çalışma çağındaki nüfus değişkenin negatif etkili olduğu belirlenmiştir.

References

  • ALIN, A. (2010). Multicollinearity. Wiley Interdisciplinary Reviews: Computational Statistics, 2(3), 370-374.
  • ALHASSAN, A. L. ve BIEKPE, N. (2016). Determinants of life insurance consumption in Africa. Research in International Business and Finance, 37, 17-27.
  • ANDREWS, D. W. ve MONAHAN, J. C. (1992). An improved heteroskedasticity and autocorrelation consistent covariance matrix estimator. Econometrica: Journal of the Econometric Society, 953- 966.
  • BABBEL, D. F. (1979). Measuring inflation impact on life insurance costs. Journal of Risk and Insurance, 425-440.
  • BECK, T. ve WEBB, I. (2003). Economic, Demographic, and Institutional Determinants of Life Insurance Consumption across Countries. The World Bank Economic Review, 17(1), 51-88.
  • BROWNE, M. J. ve KIM, K. (1993). An international analysis of life insurance demand. Journal of Risk and Insurance, 616-634.
  • BURIC, M N., SMOLOVIC, J. C., BOZOVIC, M. L. ve FILIPOVIC, L. (2017), Impact of Economic Factorson Life Insurance Development in Western Balkan Countries, Vol 35, No 2, 331-352.
  • ÇELİK, S., & KAYALİ, M. M. (2009). Determinants of demand for life insurance in European countries. Problems and perspectives in management, (7, Iss. 3), 32-37.
  • CHEN, P. F., LEE, C. C.,ve LEE, C. F. (2012). How does the development of the life insurance market affect economic growth? Some international evidence. Journal of International Development, 24(7), 865-893.
  • CUMMINS, D., CRAGG, M., ZHOU, B. ve deFONSEKA, J. (2018), The Social and Economic Contributions of the Life Insurance Industry, The Brattle Group. HOOD, C. C., ASHLEY, J. D. ve Findley, D. F. (2000, October). An empirical evaluation of the performance of TRAMO/SEATS on simulated series. In Proceedings of the American Statistical Association, Business and Economic Statistics Section. Alexandria VA: American Statistical Association, 171-176.
  • HOŞGÖR, Ş., AKPINAR, Ö. ve KIRKBEŞOĞLU, E. (2014), Hayat Sigortaları, E. Kırkbeşoğlu içinde, Risk Yönetimi ve Sigortacılık (s.382-396)Ankara: Gazi Kitabevi.
  • HWANG, T. ve GAO, S. (2003). The determinants of the demand for life insurance in an emerging economy-the case of China. Managerial Finance, 29(5-6), 82-96.
  • KJOSEVSKİ, J. (2012). The determinants of life insurance demand in central and southeastern Europe. International Journal of Economics and Finance, 4(3), 237-247.
  • KUMAR, S. (2014). Financial development as an instrument of economic growth in India: evidence from cointegration and causality analysis. IUP Journal of Applied Economics, 13(4), 28.
  • NOOR, N. N. M., ZAIN, Z. M., MA’IN, M. ve ATORY, N. A. A. (2020). A Cointegration Analysis Of The Demand Of Life Insurance In Malaysia. International Journal of Advanced Research in Economics and Finance, 2(1), 48-60.
  • SANJEEWA, W. S., HONGBING, O. ve Hashmi, S. H. (2019). Determinants of Life Insurance Consumption in Emerging Insurance Markets of South-Asia. International Journal of Information, Business and Management, 11(4), 109-129.
  • SATROVIC, E. ve MUSLIJA, A. (2018). Economic and Demographic Determinants of the Demand for Life Insurance: Multivariate Analysis. Yönetim ve Ekonomi Araştırmaları Dergisi, 16(1), 102-115.
  • SRBINOSKI, B. (2019) Life Insurance Demand and Borrowing Constraints. http://aso.mk/wp-content/uploads/2019/11/trub_br1.pdf
  • LAURENT, D. ve KIVYIRO, P. (2015). Macroeconomic and Demographic Determinants of Demand of Life Insurance: A case of Kenya, Nigeria, and South Africa. Chronicle of the Neville Wadia Institute of Management Studies & Research, 221-233.
  • LI, D., MOSHIRIAN, F., NGUYEN, P. ve Wee, T. (2007). The demand for life insurance in OECD countries. Journal of Risk and Insurance, 74(3), 637-652.
  • LENTEN, L. J. ve RULLI, D. N. (2006). A time-series analysis of the demand for life insurance companies in Australia: an unobserved components approach. Australian Journal of Management, 31(1), 41-66.
  • MAPHARING, M., OTUTEYE, E. ve RADIKOKO, I. (2015), Determinants of Demand for Life Insurance: The Case of Canada, Journal of Comparative International Management, Vol 18, No 2, 1-22.
  • MELNYCHUK, Y., CHVERTKO, L., KORDIIENKO, T. VINNYTSKA.O. ve GARMATIUK, O. (2019), Analysis of the Factors Influencing the Market of Insurance Services in Life Insurance, TEM Journal, Volume 8, Issue 1.
  • MITRA, D. ve GHOSH, D. (2010). Determinants of life insurance demand in India in the post economic reform era (1991-2008). International journal of business management, economics and information technology, 2(1), 19-36.
  • OUTREVILLE, J. F. (1996). Life insurance markets in developing countries. Journal of Risk and Insurance, 63(2), 263-279.
  • RUDEBUSCH, G. D., WILSON, D. J. ve MAHEDY, T. (2015). The puzzle of weak first-quarter GDP growth. FRBSF Economic Letter 2015:16. 1-4.
  • ZERRIAA, M., AMIRI, M. M., NOUBBIGH, H. ve NAOUI, K. (2017). Determinants of life insurance demand in Tunisia. African Development Review, 29(1), 69-80.
  • SİGMA DERGİSİ (2011), 2009 Yılında Dünya Sigortacılığı, No: 2/2010, 18 Nisan 2020 tarihinde https://www.swissre.com/institute/research/sigma-research/sigma- 2010-02.html adresinden alındı.
  • SİGMA DERGİSİ (2019), 2018 Yılında Dünya Sigortacılığı, No: 3/2018, 18 Nisan 2020 tarihinde, https://www.swissre.com/institute/research/sigma-research/sigma-2018- 03.html adresinden alındı.
  • T.C. Hazine ve Maliye Bakanlığı (2019), Sigortacılık ve Bireysel Emeklilik Faaliyetleri Hakkında Rapor-2018, 18 Nisan 2020 tarihinde https://www.hmb.gov.tr/sigortacilik-ve-ozel-emeklilik-raporlari adresinden alındı.
There are 30 citations in total.

Details

Primary Language Turkish
Journal Section Makaleler
Authors

Alp Polat 0000-0002-5472-5686

Faruk Akın 0000-0002-5921-2628

Publication Date April 18, 2021
Published in Issue Year 2021 Volume: 35 Issue: 2

Cite

APA Polat, A., & Akın, F. (2021). Hayat Sigortası Talebinin Belirleyicileri: Türkiye Örneği. Atatürk Üniversitesi İktisadi Ve İdari Bilimler Dergisi, 35(2), 407-427. https://doi.org/10.16951/atauniiibd.729438

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