The Effects of Macro economic Variables on Life Insurance Demand (Case study: MENA Region (

Subject Areas : Applied Economics

کامبیز پیکارجو ¹ , فرهاد غفاری ² , فهیمه شاهانی ³

1 - ندازد
2 - ندازد
3 - مسئول مکاتبات

Received: 2011-05-25 Accepted : 2011-10-18 Published : 2011-06-22

Keywords: macro economic variables, Demand, Life insurance, MENA Region, Panel data,

Abstract :

In developed countries a significant part of trade volume of insurance industry (over 50 percent) belong to the life insurance. The share of life insurance in insurance markets in developed countries, is considered as a degree of development in insurance industries in different countries, therefore developing countries intended to review the factors that affect growth and development life insurance to be able to accelerate development and increase the input size of insurance sector of capital markets. This research assesses  the effects of macro economic  variables on the demand for life insurance in the selected countries by using panel data estimation method between 1999-2008. Results of this study show that all macro economic variables( inflation, interest rates, financial development, GDP per capital and employment) have significant effect on demand for life insurance in studied countries. It is obvious that financial development has minimum effect on purchasing life insurance in this countries, also there is no significant relationship between oil shock and the demand for life insurance in studied countries.