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Efficiency and Productivity of the Insurance Industry in the OECD Countries

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Author Info

  • Olivier Donni

    (Olivier Donni: University of Mons-Hainaut and CREPP, Belgium)

  • Fabienne Fecher

    (Fabienne Fechner: University of Li�ge and CREPP, Belgium)

Abstract

The purpose of the paper is to measure technical efficiency levels in 15 OECD insurance industries over the period 1983-1991 and to decompose productivity changes into technical progress and efficiency variations. We show that the growth in the productivity observed in all countries is essentially imputable to improvements in technical progress. We then try to see whether some structural national characteristics of insurance markets can partly explain the differentials in efficiency levels across countries. Reinsurance rates and market shares in OECD both seem to favor efficiency levels. The study is a step towards a comprehensive efficiency comparative study of the OECD insurance markets especially desirable in this period of increasing integration and deregulation of the market.

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Bibliographic Info

Article provided by Palgrave Macmillan in its journal The Geneva Papers on Risk and Insurance.

Volume (Year): 22 (1997)
Issue (Month): 4 (October)
Pages: 523-535

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Handle: RePEc:pal:gpprii:v:22:y:1997:i:4:p:523-535

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Cited by:
  1. Amel, Dean & Barnes, Colleen & Panetta, Fabio & Salleo, Carmelo, 2004. "Consolidation and efficiency in the financial sector: A review of the international evidence," Journal of Banking & Finance, Elsevier, vol. 28(10), pages 2493-2519, October.
  2. Eling, Martin & Luhnen, Michael, 2010. "Efficiency in the international insurance industry: A cross-country comparison," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1497-1509, July.
  3. Carlos Pestana Barrosa & Milton Nektariosb & Nicolas Peypochc, 2009. "A Luenberger Index for the Greek Life Insurance Industry," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 3-18.
  4. Maria Rosa Borges & Milton Nektarios & Carlos Pestana Barros, 2008. "Analysing The Efficiency Of The Greek Life Insurance Industry," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 35-52.
  5. Dean Amel & Colleen Barnes & Fabio Panetta & Carmelo Salleo, 2002. "Consolidation and efficiency in the financial sector: a review of the international evidence," Finance and Economics Discussion Series 2002-47, Board of Governors of the Federal Reserve System (U.S.).
  6. Dean Amel & Colleen Barnes & Fabio Panetta & Carmelo Salleo, 2002. "Consolidation and efficiency in the financial sector: a review of the international evidence," Temi di discussione (Economic working papers) 464, Bank of Italy, Economic Research and International Relations Area.

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