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The Effects of Insurances, Pensions and Mutual Funds on Economic Growth

Journal of Economics and Public Finance

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Title The Effects of Insurances, Pensions and Mutual Funds on Economic Growth
Creator Ramoutar, Richard S.
Description Earlier studies on the impact of the insurance sectors activities on economic growth have largely failed. To examine the financial development market interaction of pensions and mutual funds linkages, through which insurance assets affects economic growth. This study re-examines the impact of life insurance premium volume, non-life insurance premium volume, insurance company assets, pension fund assets and mutual fund assets on economic growth. Using panel data of 33 countries over the period 2000-2016. The study applied the Autoregressive Distributed Lag (ARDL) model in panel setting using the PMG (Pooled Mean Group) and MG (Mean Group) estimators in this analysis. The study findings indicate that cointegration exists among all series and that insurances and mutual funds stimulate economic growth in both the short and long run.
Date 2020-01-06
Type info:eu-repo/semantics/article
Peer-reviewed Article
Format application/pdf
Source Journal of Economics and Public Finance; Vol 6, No 1 (2020); p17
Language eng
Rights Copyright (c) 2020 Richard S. Ramoutar