Affiliation:
1. Adeyemi Federal University of Education, Department of Economics, Ondo
Abstract
This paper examines the influence of institutional quality institutional
quality on the relationship between the extent of both non-life insurance
and life insurance and economic growth in sub-Saharan Africa. The paper
employs a dynamic threshold model for the analysis of a panel of data
consisting of 34 countries over the period 1990 to 2017. The findings of the
research reveal that non-life insurance exerts an significant effect on
economic growth when the level of institutional quality institutional
quality is high, while the association becomes insignificant when the level
of institutional quality institutional quality is low. In contrast, the
effect of life insurance on economic growth is insignificant at both at high
and low levels of institutional quality. The paper also considered the
effect of the different types of insurance in both low- and middle-income
countries in the sub-Saharan region. Overall, the paper emphasises the
important role of non-life insurance in enhancing economic growth, and the
dependence of this effect on the level of institutional quality in a
country.
Publisher
National Library of Serbia