Interface of Insurance and Economic Growth: Nigerian Experience
<p>The study aims to confirm the existence of positive and significant relationship between insurance penetration/activity and economic growth in Nigeria. Applying Ordinary Least Square model on Nigerian time series data for the period 1996-2015 reveals that insurance industry makes positive a...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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EconJournals
2018-07-01
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| Series: | International Journal of Economics and Financial Issues |
| Online Access: | https://www.econjournals.com/index.php/ijefi/article/view/6629 |
| _version_ | 1797917246463410176 |
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| author | Adedokun Lateef Adetunji E. Chuke Nwude Sergius N. Udeh |
| author_facet | Adedokun Lateef Adetunji E. Chuke Nwude Sergius N. Udeh |
| author_sort | Adedokun Lateef Adetunji |
| collection | DOAJ |
| description | <p>The study aims to confirm the existence of positive and significant relationship between insurance penetration/activity and economic growth in Nigeria. Applying Ordinary Least Square model on Nigerian time series data for the period 1996-2015 reveals that insurance industry makes positive and significant contribution on Nigeria's economic growth. Based on the findings, it is recommended that government should implement economic policies capable of stimulating insurance industry activity such as the enforcement of the statutory insurances; insurance industry stake-holders should improve the insurance image laundry and market awareness activity by promoting systematic educational campaign in the media and among the general public.</p><p><strong>Keywords: </strong>Insurance, economic growth, Nigeria, insurance premium, insurance investment, emerging economy.</p><p><strong>JEL Classifications:</strong> C32, E31, E37, F31, O52</p> |
| first_indexed | 2024-04-10T13:11:17Z |
| format | Article |
| id | doaj.art-34cf9da283f141a59a4ed4016b8926f1 |
| institution | Directory Open Access Journal |
| issn | 2146-4138 |
| language | English |
| last_indexed | 2024-04-10T13:11:17Z |
| publishDate | 2018-07-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Economics and Financial Issues |
| spelling | doaj.art-34cf9da283f141a59a4ed4016b8926f12023-02-15T16:12:38ZengEconJournalsInternational Journal of Economics and Financial Issues2146-41382018-07-018416263354Interface of Insurance and Economic Growth: Nigerian ExperienceAdedokun Lateef AdetunjiE. Chuke NwudeSergius N. Udeh<p>The study aims to confirm the existence of positive and significant relationship between insurance penetration/activity and economic growth in Nigeria. Applying Ordinary Least Square model on Nigerian time series data for the period 1996-2015 reveals that insurance industry makes positive and significant contribution on Nigeria's economic growth. Based on the findings, it is recommended that government should implement economic policies capable of stimulating insurance industry activity such as the enforcement of the statutory insurances; insurance industry stake-holders should improve the insurance image laundry and market awareness activity by promoting systematic educational campaign in the media and among the general public.</p><p><strong>Keywords: </strong>Insurance, economic growth, Nigeria, insurance premium, insurance investment, emerging economy.</p><p><strong>JEL Classifications:</strong> C32, E31, E37, F31, O52</p>https://www.econjournals.com/index.php/ijefi/article/view/6629 |
| spellingShingle | Adedokun Lateef Adetunji E. Chuke Nwude Sergius N. Udeh Interface of Insurance and Economic Growth: Nigerian Experience International Journal of Economics and Financial Issues |
| title | Interface of Insurance and Economic Growth: Nigerian Experience |
| title_full | Interface of Insurance and Economic Growth: Nigerian Experience |
| title_fullStr | Interface of Insurance and Economic Growth: Nigerian Experience |
| title_full_unstemmed | Interface of Insurance and Economic Growth: Nigerian Experience |
| title_short | Interface of Insurance and Economic Growth: Nigerian Experience |
| title_sort | interface of insurance and economic growth nigerian experience |
| url | https://www.econjournals.com/index.php/ijefi/article/view/6629 |
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