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Information asymmetry and insurance in Africa

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  • Asongu, Simplice A
  • Odhiambo, Nicholas M

Abstract

In this study, we assess the relevance of decreasing information asymmetry on life and non-life insurance consumption, by using data from 48 African countries during the period 2004-2014. Reduced information asymmetry is proxied by information sharing offices, namely: public credit registries and private credit bureaus. The empirical evidence is based on the Generalised Method of Moments. The findings show that information sharing offices increase insurance consumption with a comparatively higher magnitude in life insurance penetration, relative to non-life insurance penetration. Practical and theoretical implications are discussed.

Suggested Citation

  • Asongu, Simplice A & Odhiambo, Nicholas M, 2020. "Information asymmetry and insurance in Africa," Working Papers 26639, University of South Africa, Department of Economics.
  • Handle: RePEc:uza:wpaper:26639
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    More about this item

    Keywords

    Insurance; Information Asymmetry;

    JEL classification:

    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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