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Socio-Economic, Demographic and Institutional Variables¡¯ Impact on the Development of Life Insurance in Sub-Saharan Africa and Madagascar

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  • Momar Sylla Dieng
  • Mouhamadou Fall

Abstract

This study empirically analyzes the Socio-economic, Demographic and Institutional Variables¡¯ Impact on the Development of Life Insurance in Sub-Saharan Africa and Madagascar taking into account the Socio-economic and the Cultural structures of the set of countries. A mixed effect panel model is used to estimate the relationship between these variables and life insurance provisions, life insurance density and life insurance premium. covering the period 2000-2013, we found that financial development and urbanization are the only variables significantly related to all the variables of interest.

Suggested Citation

  • Momar Sylla Dieng & Mouhamadou Fall, 2017. "Socio-Economic, Demographic and Institutional Variables¡¯ Impact on the Development of Life Insurance in Sub-Saharan Africa and Madagascar," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(1), pages 10-19, January.
    • Handle: RePEc:ibn:ijefaa:v:9:y:2017:i:1:p:10-19
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    References listed on IDEAS

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    4. Lee, Chien-Chiang & Lee, Chi-Chuan & Chiu, Yi-Bin, 2013. "The link between life insurance activities and economic growth: Some new evidence," Journal of International Money and Finance, Elsevier, vol. 32(C), pages 405-427.
    5. Donghui Li & Fariborz Moshirian & Pascal Nguyen & Timothy Wee, 2007. "The Demand for Life Insurance in OECD Countries," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 74(3), pages 637-652, September.
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    More about this item

    Keywords

    life insurance; socio-economic and cultural structures; mixed effect panel model; Sub-Saharan Africa and Madagascar;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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