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Socio-Economic and Macro-Financial Determinants and Spatial Effects on European Private Health Insurance Markets

Author

Listed:
  • Gabriela Mihaela Mure?an

    (Babe?-Bolyai University, Cluj Napoca, România)

  • Cristian Mihai Dragos

    (Babe?-Bolyai University, Cluj Napoca, România)

  • Codru?a Mare

    (Babe?-Bolyai University, Cluj Napoca, România)

  • Simona Laura Dragos

    (Babe?-Bolyai University, Cluj Napoca, România)

  • Alexandra Pintea

    (Babe?-Bolyai University, Cluj Napoca, România)

Abstract

There is a great variation in the development of private health insurance (PHI) between European countries. Using data provided by Insurance Europe, World Bank and Standard and Poor's for 30 European countries, our research investigates the main factors influencing the size of these markets. In addition to some classical economic and social factors, the role of the size of national macrofinancial aggregates is also highlighted. In order to relax the constraints due to the multicollinearity phenomenon, we use as explanatory variables aggregated indicators, both calculated by financial institutions and by us, based on component items, used as proxy variables for different components of the financial system at national level. Using cross-section regressions with White corrections for heteroskedasticity and elements of spatial econometrics, we also analyze the possible phenomena of clustering and behavioural contagion between the countries in the sample.

Suggested Citation

  • 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.
    • Handle: RePEc:aes:amfeco:v:23:y:2021:i:56:p:290
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    More about this item

    Keywords

    private health insurance; White OLS; spatial econometrics; spatial contagion; clusterization;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models

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