Insurance Premium and Economic Growth: Evidence from OECD Countries

Year 2017, , 1 - 11, 30.04.2017

Şuayyip Doğuş Demirci , Feyyaz Zeren

https://doi.org/10.22139/jobs.286819

Cited By: 10

Abstract

In this study that covers
1983-2011 periods, per capita insurance premiums and per capita real GDP
relationship was investigated for 13 OECD countries (USA, Germany, Australia,
Belgium, Finland, France, Holland, Spain, Switzerland, Italy, Iceland, Japan and
Norway). Stationary of series are determined with linear Levin, Lin and Chu
(2002), Im, Pesaran & Shin (2003) and Maddala-Wu (1999), non-linear Uçar
& Omay (2009) panel unit root tests. In the paper in which the
Emirmahmutoğlu & Köse (EK) panel causality test (2011) was used, least one
panel causality was determined from insurance premiums to GDP. Sequential panel
selection method which was developed by Chortareas and Kapetanios (2009) was
used and this causality occurred for respectively France, Iceland, Italy and
Spain and there was no findings observed for the other countries. The findings
of this study have an important place for insurance sector in economy and it
also supports the findings obtained in literature.

Keywords

Insurance, Economic Growth, OECD Countries, Panel Unit Root Test, Panel Causality Test.

Sigorta Primi ve Ekonomik Büyüme: OECD Ülkeleri üzerine bir araştırma

Abstract

1983-2011 dönemlerini ele alan bu çalışmada 13 OECD ülkesi (ABD,Almanya,Avustralya, Belçika, Finlandiya, Fransa, Hollanda, İspanya, İsviçre, İtalya, İzlanda, Japonya, Norveç)) için kişi başına sigorta primleri ile kişi başına GSYİH arasındaki ilişki araştırılmıştır. Serilerin durağanlık mertebeleri doğrusal Levin, Lin & Chu (2002) Im, Pesaran & Shin (2003) ve Maddala-Wu (1999); doğrusal olmayan Uçar & Omay (2009) panel birim kök testleriyle belirlenmiştir. Emirmahmutoğlu & Köse panel nedensellik testi (2011)’nin kullanıldığı çalışmada sigorta primlerinden GSYİH’ya doğru en az bir panel nedenselliğin olduğu saptanmıştır. Chortareas and Kapetanios (2009)’un geliştirdiği Ardışık Panel Seçim Method’u kullanılarak bu nedenselliğin sırasıyla Fransa, İzlanda, İtalya ve İspanya için gerçekleştiği, diğer ülkeler içinse herhangi bir bulguya rastlanmadığı görülmüştür. Çalışmamızın bulguları sigorta sektörünün ekonomi içerisinde önemli bir yere sahip olduğunu göstermekte ve literatürde yapılmış çalışmaları destekler niteliktedir

Keywords

Sigorta, Ekonomik Büyüme, OECD Ülkeleri, Panel Birim Kök Test, Panel Nedensellik Test

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