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Impact of Insurance Deepening on Economic Growth in Nigeria

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  • Michael Chukwunaekwu Nwafor

    (Department of Accounting and Finance, Godfrey Okoye University Enugu, Nigeria)

Abstract

This paper examined the impact of insurance deepening on economic growth in Nigeria. Data spanning from 1990 to 2016 was obtained from CBN Statistical Bulletin, 2016 and NAICOM database. Data was imported into SPSS and analyzed using SPSS version 25.0. Finding revealed that insurance deepening has significant impact on economic growth of Nigeria, this impact was further qualified by the slope which had negative sign, emphasizing that the relationship between insurance deepening and economic growth is inverse.

Suggested Citation

  • Michael Chukwunaekwu Nwafor, 2019. "Impact of Insurance Deepening on Economic Growth in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 3(3), pages 62-67, March.
    • Handle: RePEc:bcp:journl:v:3:y:2019:i:3:p:62-67
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    References listed on IDEAS

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    1. Olivier Mahul & Charles J. Stutley, 2010. "Government Support to Agricultural Insurance : Challenges and Options for Developing Countries," World Bank Publications - Books, The World Bank Group, number 2432, April.
    2. Peter Haiss & Kjell Sümegi, 2008. "The relationship between insurance and economic growth in Europe: a theoretical and empirical analysis," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 35(4), pages 405-431, September.
    3. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680, Decembrie.
    4. Maurice Kugler & Reza Ofoghi, 2005. "Does Insurance Promote Economic Growth? Evidence from the UK," Money Macro and Finance (MMF) Research Group Conference 2005 8, Money Macro and Finance Research Group.
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