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A matter of life or non-life: the role of economic uncertainty on insurance consumption

Author

Listed:
  • Selahattin Tolga Er

    (Institute of Law and Economics, University of Hamburg, Germany)

  • Ender Demir

    (Department of Business Administration, School of Social Sciences, Reykjavik University)

Abstract

This paper examines the effect of economic uncertainty proxied by the World Uncertainty Index on life and non-life insurance consumption using a panel dataset from 114 countries between 1996 and 2017. We find evidence that while higher economic uncertainty lowers life insurance penetration, non-life insurance penetration remains unaffected by economic uncertainty.

Suggested Citation

  • Selahattin Tolga Er & Ender Demir, 2022. "A matter of life or non-life: the role of economic uncertainty on insurance consumption," Economics Bulletin, AccessEcon, vol. 42(3), pages 1305-1313.
    • Handle: RePEc:ebl:ecbull:eb-22-00454
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    File URL: http://www.accessecon.com/Pubs/EB/2022/Volume42/EB-22-V42-I3-P110.pdf
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    More about this item

    Keywords

    Life Insurance; Non-life Insurance; Insurance Consumption; Economic Uncertainty; World Uncertainty Index;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services

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