(searched for: doi:10.24294/fsj.v1i4.1057)
Published: 30 September 2021
Balıkesir Üniversitesi Sosyal Bilimler Enstitüsü Dergisi; https://doi.org/10.31795/baunsobed.971904
Insurance is a sector that becoma more important as increase the economic development and growth level of the countries. Furthemore, insurance sector have a possitive influence on economic growth and development. Along with the diversified and developing economic activities, the service area and scope of the insurance sector is also expanding. With the development of the insurance sector, the risks in the economy are minimized. Thus, risks can be eliminated and more efficient results can be obtained from economic activities. The aim of paper to denote that importance of insurance sector in terms of economic growth. Study realized for G-8 countires and covered 1996-2019 period. In econometric analysis, we used IPS unit root test, Pedroni co-integration test and FMOLS coefficience. As result display that it has a long-run relationship between insurance sector and economic growth. Additionally, insurance sector has a possitive affect on economic growth. Sigortacılık, ülkelerin ekonomik kalkınma ve büyüme düzeyleri yükseldikçe önemi daha da artan bir sektördür. Ayrıca sigortacılık sektörü ekonomik kalkınma ve büyüme süreçlerine pozitif etki sağlamaktadır. Çeşitlenen ekonomik faaliyetlerle beraber sigortacılık sektörünün de hizmet alanı ve kapsamı genişlemektedir. Sigortacılık sektörünün gelişmesi ile birlikte ekonomideki riskler minimize edilmektedir. Böylece riskler bertaraf edilerek iktisadi faaliyetlerden daha verimli sonuçlar elde edilebilmektedir. Bu çalışmanın amacı sigortacılık sektörünün ekonomik büyüme açısından önemini ortaya koymaktır. Çalışma G-8 ülkeleri için gerçekleştirilmiş ve 1996-2019 dönemini kapsamaktadır. Ekonometrik analizlerde IPS birim kök testi, Pedroni eşbütünleşme ve FMOLS katsayı tahmincisinden yararlanılmıştır. Elde edilen sonuçlar göre sigortacılık sektörü ile ekonomik büyüme arasında uzun dönemde bir ilişki bulunmuştur. Sigortacılık sektörünün ekonomik büyümeyi pozitif etkilediği görülmüştür.
Published: 10 December 2020
Investment Management and Financial Innovations, Volume 17, pp 299-314; https://doi.org/10.21511/imfi.17(4).2020.26
Socio-economic development of a region is based on its production capacity. However, most regions in Russia are characterized by financial instability of local enterprises and the lack of a balanced structure of the regional economy. Insurance is an instrument of financial protection against risks, and its effective functioning is important for the development of the manufacturing sector, especially in depressed regions.This paper aims to highlight the mechanisms for increasing the production capacity of a region and reducing business risks with the help of insurance instruments and to provide appropriate recommendations for the development of the insurance market. This is planned to be achieved on the basis of analysis and processing of existing scientific research in this field and statistical materials.For this, a typology of regions was developed, which reflects the level of production in the region and is important in terms of developing the regional insurance market. This allows assessing the impact of insurance coverage in the region on the development of its production capacity. The proposed typology allows determining the causes of production inefficiency. The conformity of the development of the regional insurance market to the needs for insurance coverage of the production sector in the region was assessed. The identified imbalance between the provision of insurance coverage and the need for it allowed demonstrating an additional need for insurance, as well as working out a program for its development.The obtained results are illustrated using the example of the Republic of Khakassia, a constituent entity of the Siberian Federal District of the Russian Federation. To implement risk management in the manufacturing sector, schemes of interaction between insurance market participants using commercial and non-commercial insurance are proposed. AcknowledgmentThe paper was written under the grant from the Russian Foundation for Basic Research – Development of a Methodology for Green and Infrastructure Investment by Institutional Investors in the Context of Pension Reforms.