Determinants of insurance industry development in transition economies : empirical analysis of visegrad group data

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      <subfield code="a">Determinants of insurance industry development in transition economies</subfield>
      <subfield code="b">: empirical analysis of visegrad group data</subfield>
      <subfield code="c">Zuzana Brokesová, Erika Pastoráková, Tomás Ondruska</subfield>
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      <subfield code="a">The private insurance industry represents an integral part of all advanced economies. However, in transition economies its role differs. Monopolisation of the industry as well as wide social systems in the era of communistic government, inter alia, led to the reduction in the needs and offers of private insurance. Its importance began to grow after the regime change in 1989. This paper focuses on the examination of areas and factors that influenced the development of the insurance industry in four Central European transition economies: the Czech Republic, Hungary, the Republic of Poland and the Slovak Republic, also known as the Visegrad Four (V4) countries. Based on the results obtained, we were able to confirm that between 1995 and 2010 in V4 countries, the development of insurance markets was fuelled by different determinants from those fuelling the insurance industry in advanced economies. Different results were found for determinants including inflation rate, the age dependency ratio, degree of urbanisation, the social security system and rate of criminality.</subfield>
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      <subfield code="w">MAP20077100215</subfield>
      <subfield code="t">Geneva papers on risk and insurance : issues and practice</subfield>
      <subfield code="d">Geneva : The Geneva Association, 1976-</subfield>
      <subfield code="x">1018-5895</subfield>
      <subfield code="g">07/07/2014 Volumen 39 Número 3 - julio 2014 </subfield>
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