Development Under Regulation: The Way of the Ukrainian Insurance Market
AbstractThis study is intended to assess the introduction of increased capitalization requirements in Ukrainian insurance firms. To do so, the paper employs up-to-date frontier efficiency analysis. The analysis suggests that an increase in size occurs not only because of the regulator’s requirements, but also because all scale inefficient firms have been persistently operating under increasing returns to scale. The analysis identifies the winners and losers among small, medium and large companies. The findings are consistent with the hypothesis that regulation forces firms to concentrate on efficiency.
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Bibliographic InfoArticle provided by IUP Publications in its journal The IUP Journal of Managerial Economics.
Volume (Year): VII (2009)
Issue (Month): 3-4 (August-November)
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Other versions of this item:
- Oleg Badunenko & Bogdana Grechanyuk & Oleksandr Talavera, 2006. "Development under Regulation: The Way of the Ukrainian Insurance Market," Discussion Papers of DIW Berlin 644, DIW Berlin, German Institute for Economic Research.
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
- C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
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- Leopold Simar & Paul Wilson, 2000.
"A general methodology for bootstrapping in non-parametric frontier models,"
Journal of Applied Statistics,
Taylor and Francis Journals, vol. 27(6), pages 779-802.
- Simar, L. & Wilson, P.W., 1998. "A General Methodology for Bootstrapping in Nonparametric Frontier Models," Papers 9811, Catholique de Louvain - Institut de statistique.
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