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The impact of human development on the Romanian life insurance market: A county spatial econometric analysis

Author

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  • Codruța Mare
  • Simona Laura Dragoș
  • Ingrid-Mihaela Dragotă

Abstract

This work adds to the debate on the determinants of the demand for life insurance providing new insights for the unexplored Romanian market, and the new perspective of spatial econometric analysis. Results show that there are spatial interactions between the Romanian counties regarding the life insurance density, positively and significantly conditioned by the level of the local human development. The latter is included in the analysis in the form of the Local Human Development Index (LHDI) developed and computed for the Romanian counties and update for this study. The spatial econometrics regression models emphasize significant diffusion and contagion processes on the local Romanian life insurance market. We also identified a significant positive impact of income, urbanization and medical staff over the life insurance demand.

Suggested Citation

  • Codruța Mare & Simona Laura Dragoș & Ingrid-Mihaela Dragotă, 2019. "The impact of human development on the Romanian life insurance market: A county spatial econometric analysis," Cogent Business & Management, Taylor & Francis Journals, vol. 6(1), pages 1707609-170, January.
    • Handle: RePEc:taf:oabmxx:v:6:y:2019:i:1:p:1707609
    DOI: 10.1080/23311975.2019.1707609
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    Cited by:

    1. Tudorache, Maria-Daniela, 2021. "Development in Romania during the post-crisis period: A human, economic and social perspective," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 28(3(628)), pages 15-32.
    2. Maria-Daniela TUDORACHE, 2021. "Development in Romania during the post-crisis period: A human, economic and social perspective," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(3(628), A), pages 15-32, Autumn.
    3. Patricia Born & Douglas Bujakowski, 2022. "Insurance research in Central, Eastern, and Southeastern Europe: What we can learn from XPRIMM data," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 25(2), pages 219-231, June.
    4. Gabriela Mihaela Mure?an & Cristian Mihai Dragos & Codru?a Mare & Simona Laura Dragos & Alexandra Pintea, 2021. "Socio-Economic and Macro-Financial Determinants and Spatial Effects on European Private Health Insurance Markets," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 23(56), pages 290-290, February.

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