ISSN: 1648 - 4460

International Journal of Scholarly Papers

VU KHF

Transformations  in
Business & Economics

Transformations in
Business & Economics

  • © Vilnius University, 2002-2020
  • © Brno University of Technology, 2002-2020
  • © University of Latvia, 2002-2020
Article
RELATIONSHIP BETWEEN THE INSURANCE MARKET AND MACROECONOMIC INDICATORS IN THE EU MEMBER STATES
Anna Ostrowska-Dankiewicz, Mihaela Simionescu

ABSTRACT. The paper reviews literature and research conducted so far in the field of connections and mutual relations between the development of the insurance market and economic development. Attention was paid to the use of various measures and tools, as well as various methods used to study the relationship between the economy and insurance in various countries and periods.
In the empirical part for all countries of the European Union, the relationships between insurance market indicators such as direct written premiums (DPW), insurance penetration and insurance density and basic macroeconomic indicators were examined. In order to determine the impact of the economy on insurance in 1996-2017 two types of methods, i.e. mixed-effects models and panel data models, were applied.

KEYWORDS:  insurance, insurance market, direct premium written, insurance penetration, insurance density, EU.

JEL classification:  G20, G22, G29 .

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Scholarly papers Transformations in Business & Economics
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