The Analyse of The Relationship Between Insurance Industry Development & Economic Growth in Developing Countries(Algeria, Indonesia, Malaysia, Pakistan, Turkey, Philipines, Egypt, India) & Comparson

Subject Areas : Financial Economics

Sakineh  Safari ¹ (Assistant professor in Economics, Islamic Azad University ,Central Tehran Branch)
Hamed  soltani ² (M.A. in Economics)
Ghadir  Mahdavi ³ (Assistant professor in Economics , Allame Tabatabaei University)

Received: 2015-05-06 Accepted : 2015-05-06 Published : 2012-12-21

Keywords: Insurance, Insurance Industry, Capital Market, financial market, investment, premium, Economic Growth,

Abstract :

insurance institutions, including financial institutions that are providing security near the economic capital in creating the financial resources at time intervals to receive insurance premium and pay damages, especially in long-term insurance can lead to mobility and dynamicaly and development financial markets and with accumulation of capital necessary can provide fields of economic growth. In this study with using a CROOSS – COUNTRY PANEL DATA technique to examine the relationship between insurance sector expantion and economic growth in Iran and the selection countries at during the period 1186-2991. The results were considered significant and positive relationship between study variables and economic growth and with increasing 1 percent in the insurance penetration coefficient (the ratio of premium to GDP), the economic growth will increase 90993 percent, then insurance is one of the factors affecting the country's economic growth during the period of review and, the Schumpeter’s opinion (1111) and supply leading theories will be approved.

References:

 

1. احمدوند ،محمد رحیم،(1379)"بررسی نقش صنعت بیمه در بازار سرمایه و تامین وجوه "موسسه تحقیقات پولی بانکی ،.


2. احسانی،( 1383) ،" واسطه‌های مالی و رشد اقتصادی"فصلنامه صنعت بیمه.


3. حسن زاده ، علی، مهدی کاظم نژاد (1387) " ،مروری بر نقش صنعت بیمه در اقتصاد و بازار سرمایه ایران و برخی کشور های در حال توسعه و توسعه یافته" ،فصلنامه صنعت بیمه، شماره 91-92 ،پاییز و زمستان.


4. روزبهان،محمود، (1379)"مبانی توسعه اقتصادی"انتشارات دانشگاه شهید بهشتی.


5. شاکرین، مهدی(1373)،"نقش بیمه در بازار سرمایه و تضمین امنیت سرمایه های ملی "فصل نامه صنعت بیمه.


6. عباس زادگان ،م،(1380)"نقش بیمه های مسئولیت در توسعه اقتصادی و اجتماعی کشور "،فصلنامه صنعت بیمه ،شماره چهارم.


7. عزیزی ،فیروزه وپاسبان ،فاطمه(1376) ،"رابطه بین بیمه زندگی و رشد اقتصادی" ،فصلنامه صنعت بیمه ،نشریه بیمه مرکزی.


8. عسگری،ضرغام(1386) ،"رابطه بین رشد اقتصادی و حق بیمه بیمه های اموال و مسئولیت  طی دوره 1348-1384"،علوم اقتصادی ،دانشگاه آزاد واحد خوراسگان.


9. جعفری صمیمی،کاردگر ، (1385) ،"آیا توسعه بیمه رشد اقتصادی را حمایت می کند؟ " ،فصلنامه پژوهشهای اقتصادی ،سال ششم ،شماره 2.


10. کاوه پیروز  ، علی ، (1382) ،" تاثیر صنعت بیمه بر شاخص های اقتصادی در ایران (با استفاده از جدول داده - ستانده )" ،پژوهشگاه علوم انسانی و مطالعات فرهنگی .


11. گجراتی ،دامودار،(1382) ،"مبانی اقتصاد سنجی "،ترجمه حمید ابریشمی،انتشارات دانشگاه تهران .


12. کشاورز حداد ،غلام رضا (1381)،"اهمیت بخش خدمات مالی در اقتصاد کشور بررسی تحلیلی موسسات مالی و بیمه و بانکداری در تولید ملی "فصلنامه پژوهشی اقتصاد ایران ،شماره 21 .


13. فر مهین  فراهانی ،راضیه  (1386) "بررسی رابطه میان مصرف انرژی  برق و  رشد اقتصادی در کشورهای منتخب صادر کننده نفت ،پایان نامه کارشناسی ارشد،دانشگاه تهران.


14. هوشمند ،محمود(1378)،"نقش بیمه در فرایند توسعه اقتصادی"،مجله دانشکده علوم اقتصادی و دارایی .


15. Adams Mike,Jonas Andersson(2005) ,”The historical relation between banking ,insurance ,and economic growth :1830to 1998”university of wales swansea ,uk,norwegian school of economics and business administration ,norway.


16. Arena,M.(2006),”Does insurance market activity promote economic growth?”World bank policy research working paper , N. 4098.World Bank Washington.D.C.


17. Bagehot,Walter[1873](1991),”Lombard street:Adescription of money market”,Philadelphia:Orion editions.


18. Ben habib,Jess,Eshpiegel ,Mark,(2000), ”Human capital”, Risk paper.vol 5. ,no 54/584.


19. Beenstock ,M.et al (1988),”The relationship between property liability insurance penetration and income :an international analysis” ,journal of risk and insurance vol,55,no .2.


20. Boon,T.(2004),”Do commercial banks stock market and insurance market promote economic growth?:an analysis of  Singapor economy”,School of Humanities and social studies Nanyang Technological university.


21. Das,U,et al (2003) ,”insurance and issues  in financial soundness” ,IMF working paper 3/138.


22. Davis,E.Phu.y(2004)”Is there a link between pension fund assets and economic growth?a cross-country study study” ,public policy discussion department of economics and faineance ,brunel university ,England.


23. Esmith ,Gold,(1964),”Capital market in economic”,Journal of risk,vol 45,no 7.


24. Francois Outreville ,( 1990),”The economic significance of insurance markets in developing countries”,The journal of risk aid in airmce.


25. Gunita arun CHandhokmm,( 2004) ”insurance –A Tool to eradicate and a vehicle to econamic development“ ,women,s university ,chennai, India.


26. Hais ,p.Sumegi ,k. ,(2007),” The Relationship of Insurance and Economic Growth A Theoretical and Empirical Analysis”, Lecturer, EuropeInstiute, University of Economics and Business Administration, Vienna, Austria.


27. Holsber ,j.h.(1999),”Respositioning  of insurance industry in financial sector and its economic role” ,the Geneva papers on risk and insurance,vol .24,no.2


28. Hicks,John,(1969),”financial growth”, policy research paper no ,2824,world bank.


29. Ilhan EGE,et al,(2011), ”The relationship between insurance sector and economic growth :An economertric analysis”,INT.J.ECO.RES,2(2),1-9.


30. Khan and Senhadji ,(1985),” development and growth” ,journal  of risk  and insurance,vol .58,no .5


31. Kugler ,M.Ofoghi ,r.(2005),” Does insurance promote economic growth?evidence uk”, journal of insurance,no 3846,p 68.


32. Levine,R.(2004),”Finance and growth :Theory and evidence”,NBER,Working paper.


33. Mckinon and Shaw,(2003),”Fund paid ,april 4 ,journal ,4/5,britian college economics.


34. MacKinnon,James G (1973),  “Numerical distribution functions for unit root and cointegration tests” ,Journal of Applied Econometrics, 11, 1996, 601-618.


35. Merton,R.C. and Bodie,Z.(2004),”The design of financial systems:Toward a synthesis of function and structure,”National Bureau of economic research working paper.


36. Outreville ,j.(1997),”Life insurance markets in developing countries” ,journal of risk and insurance,vol .57,no.3


37. Pagano,M.(1993),”Financial markets and growth:an overview,European Economic Review.


38. RanadI ,Ahuja ,(2001),”Impact on saving via insurance reform ,Indian council for research on international economic relation” ,working paper 67.


39. Schumpeter,J.A.(1911),”The theory of economic development ,”Cambridge:Harvard university press.


40. Sollow and Merton,(2004),”Growth and life insurance market “,draft paper the department of economic,vinea university of economics.


41. Ward , Zurbregg ,R.(2000)”Does  insurance promote economic growth –evidence OECD countries” ,journal  of risk  and insurance,vol .67,no.4.


42. Webb ,I,(2002),”The effect of banking and insurance  on the growth capital and output” ,center  of risk management  and insurance working paper ,no.2-1 ,Robonson college of business ,Georgia state university Atlanta.


43. WWW.WDI(WORLD DEVELOPMENT INDICATORS). COM/ INDICATORS/ DATA BY COUNTRY


44. WWW.WORLD BANK(WB) .COM/DATA BASE /COUNTRY PUBLICATIONS


45. WWW.UNITED NATION.ORG/UN


46. WWW.WHO(WORLD HEALTH ORGANIZATION).ORG/INDEX AND INDICATORS


47. WWW.IMF.ORG/DATA AND STATISTICS


48. WWW.IFS.ORG/INTERNATIONAL FINANCIAL STATISTICS/ DATA BASE AND STATISTICS


49. WWW.SWISS.RE/SIGMA/LIFE AND NON LIFE  PREM