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Insurance Stock Returns and Economic Growth

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<title>Insurance Stock Returns and Economic Growth</title>
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<abstract displayLabel="Summary">In this paper, we propose to use insurance stock returns as an indicator of insurance activities, and apply a dynamic panel technique to examine the link between the role of insurance and economic growth. Our empirical results show that after we control for the variations of market index returns, there is a significantly positive relationship between insurance stock returns and future economic growth. Furthermore, we also investigate how law environment and governance quality affect the link between the role of insurance and economic growth. The empirical results are consistent with our expectation that a well-defined law environment and governance quality facilitate the functioning of insurance companies, and strengthen the role of insurance in economic growth. We find generally that the effect of law and governance on the link between the role of insurance and economic growth is more significant in developed markets than in emerging markets.</abstract>
<note type="statement of responsibility">Chunyang Zhou...[et.el]</note>
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<topic>Crecimiento económico</topic>
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<topic>Mercado de seguros</topic>
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<title>Geneva papers on risk and insurance : issues and practice</title>
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<publisher>Geneva : The Geneva Association, 1976-</publisher>
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<identifier type="issn">1018-5895</identifier>
<identifier type="local">MAP20077100215</identifier>
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<text>02/07/2012 Volumen 37 Número 3  - julio 2012 , p. 405-428</text>
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