The impact of Insurance for Economic Growth: the Evidence from new EU member States
Hristo Kondovski

The aim of this paper is to examine relationship between insurance sector development and economic in 11 new EU member states from Central and Eastern Europe, using annual data for the period 1999-2018. We apply dynamic and fully modified ordinary least squares to estimate the relationship between the variables. The results of our study indicate there are a positive and a significant relationship between insurance, measured through penetration, and economic growth These results could be useful for regional governments that seek to improve economic growth as they suggest the need for implementation of stimulative policies for the development of insurance industry.

Full Text: PDF     DOI: 10.15640/jfbm.v9n1a2