Impact of Insurance on Economic Growth: The Case of Republic of Macedonia

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.

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APA

Pagli, D. (2018). Impact of Insurance on Economic Growth: The Case of Republic of Macedonia. Afribary. Retrieved from https://afribary.com/works/impact-of-insurance-on-economic-growth-the-case-of-republic-of-macedonia

MLA 8th

Pagli, Don "Impact of Insurance on Economic Growth: The Case of Republic of Macedonia" Afribary. Afribary, 13 Oct. 2018, https://afribary.com/works/impact-of-insurance-on-economic-growth-the-case-of-republic-of-macedonia. Accessed 14 Jul. 2024.

MLA7

Pagli, Don . "Impact of Insurance on Economic Growth: The Case of Republic of Macedonia". Afribary, Afribary, 13 Oct. 2018. Web. 14 Jul. 2024. < https://afribary.com/works/impact-of-insurance-on-economic-growth-the-case-of-republic-of-macedonia >.

Chicago

Pagli, Don . "Impact of Insurance on Economic Growth: The Case of Republic of Macedonia" Afribary (2018). Accessed July 14, 2024. https://afribary.com/works/impact-of-insurance-on-economic-growth-the-case-of-republic-of-macedonia

Document Details
By: Don Pagli Field: Insurance Type: Paper 6 PAGES (5677 WORDS) (pdf)