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Type: Journal article
Title: Law, politics and life insurance consumption in Asia
Author: Ward, D.
Zurbrugg, R.
Citation: The Geneva Papers on Risk and Insurance, 2002; 27(3):395-412
Publisher: Blackwell Publishers
Issue Date: 2002
ISSN: 1018-5895
Statement of
Damian Ward and Ralf Zurbruegg
Abstract: This paper investigates the determinants of consumption for one of the fastest growing financial products in Asia. We find evidence that increased provision of civil rights and political stability leads to an increase in life insurance provision. However, by utilizing various estimation procedures, a number of differences between the more developed insurance markets and those in Asia are illustrated. In particular, the estimated income effect is found to be far higher in Asia than in other countries. However, the size of this difference is reduced once political and legal factors are controlled for, suggesting that future insurance market growth in Asia may not exceed that in the rest of the world.
Description: Copyright © Palgrave Macmillan Ltd
RMID: 0020021634
DOI: 10.1111/1468-0440.00181
Appears in Collections:Business School publications

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