Dynamic cost productivity and economies of scale of Ghanaian insurers

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      <subfield code="a">Ohene-Asare, Kwaku</subfield>
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      <subfield code="a">Dynamic cost productivity and economies of scale of Ghanaian insurers</subfield>
      <subfield code="c">Kwaku Ohene-Asare, Jones Kofi Anyimadu Asare, Charles Turkson</subfield>
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      <subfield code="a">Previous insurance efficiency studies have focused on cost efficiency or static and dynamic technical productivity and therefore ignored dynamic cost productivity. Previous studies have also failed to consider econornies of scale at the firm level. This study employs a panel data of insurers to assess the dynamic cost productivity growth in Ghana from 2005 to 2014. We also explore the deterrninants of cost productivity growth in the Ghanaian insurance industry. We find that the introduction of the Insurance Act of 2006 saw some large cost productivity growths; however, since 2012 the industry has been facing some marginal cost productivity decline. The cost improving policies in the Act that encouraged cost efficiency must be revisited by regulators, as it seems that the industry is going back to the preregulation cost environment. Additionally, not many insurers have been operating at the optimal production scale over the period</subfield>
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      <subfield code="a">Productividad</subfield>
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      <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">01/01/2019 Volumen 44 Número 1 - enero 2019 , p. 149-177</subfield>
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