• Home
  • Register
  • Login

Journal of Global Economics, Management and Business Research

  • About
    • About the Journal
    • Submissions & Author Guidelines
    • Articles in Press
    • Editorial Team
    • Editorial Policy
    • Publication Ethics and Malpractice Statement
    • Contact
  • Archives
  • Indexing
  • Submission
Advanced Search
  1. Home
  2. Archives
  3. 2019 - Volume 11 [Issue 3]
  4. Original Research Article

DO INSURANCE MARKET ACTIVITIES PROMOTE ECONOMIC GROWTH IN NIGERIA? EVIDENCE FROM VECTOR ERROR CORRECTION APPROACH

  •  EUGENE IHEANACHO

Journal of Global Economics, Management and Business Research, Page 142-154

Published: 3 June 2019

  • View Article
  • Download
  • Cite
  • Statistics
  • Share

Abstract


This study examined the dynamic relationships between insurance market activities, and economic growth in Nigeria using the Johansen approach to cointegration analysis, Vector Error Correction Model (VECM), and Granger Causality test on yearly data over the period 1985 to 2017. The results show that total premium (life and non-life) to nominal GDP exerts positive and significant relationship with real GDP in the long run. Insurance Density exerts a negative and significant relationship on real GDP. In the short run, the result of Granger causality as indicates that there is a weak unidirectional causality running from, insurance density to real GDP. The study established a weak relationship between insurance development and growth in Nigeria. The study recommends the need to establish financial institutions that would strengthen and resolve the institutional and structural problems in the economy and create structures that would sustain other causal factors that mediates growth and financial intermediation (insurance side) where appropriate.


Keywords:
  • Total premium
  • insurance density
  • market activities
  • economic growth.
  • PDF Requires Subscription or Fee (USD 30)
  •  PDF (INR 2100)

How to Cite

IHEANACHO, E. (2019). DO INSURANCE MARKET ACTIVITIES PROMOTE ECONOMIC GROWTH IN NIGERIA? EVIDENCE FROM VECTOR ERROR CORRECTION APPROACH. Journal of Global Economics, Management and Business Research, 11(3), 142-154. Retrieved from https://www.ikprress.org/index.php/JGEMBR/article/view/4451
  • ACM
  • ACS
  • APA
  • ABNT
  • Chicago
  • Harvard
  • IEEE
  • MLA
  • Turabian
  • Vancouver
  • Abstract View: 811 times
    PDF Download: 1 times

Download Statistics

Downloads

Download data is not yet available.
  • Linkedin
  • Twitter
  • Facebook
  • WhatsApp
  • Telegram
Make a Submission
Subscription

Login to access subscriber-only resources.

Information
  • For Readers
  • For Authors
  • For Librarians
Current Issue
  • Atom logo
  • RSS2 logo
  • RSS1 logo


Terms & Condition | Privacy Policy | Help | Team | Advertising Policy
Copyright @ 2000-2021 I.K. Press. All rights reserved.