engleski

ECONOMIC AND DEMOGRAPHIC DETERMINANTS OF DEMAND FOR LIFE INSURANCE

The insurance industry, particularly its stronger component life insurance, is increasingly gaining in importance as financial intermediary that facilitate the role of the financial system in economic growth. Important position of the life insurance industry will be explained by economic and demographic determinants on the example of the transition countries of central Europe, applying a static panel model. According to the results of previous studies, hypothesis has been confirmed - a rise in income contributes to the growth of the insurance market and the demand for life insurance is function of bequest motive. The limiting factor in the development of the life insurance market is unemployment, which is becoming very disturbing in the study on a group of countries. As an additional reason for the interest of the study stands out relatively few studies comparing them with the banking sector.

Life insurance demand, Transition countries of central Europe, Static panel analysis

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