The impact of human development on the Romanian life insurance market: A county spatial econometric analysis

References

• Alexa, D., Cismas, L. M., Rus, A. V., & Pop Silaghi, M. I. (2019). Economic growth, competitiveness and convergence in the European regions. A spatial model estimation. Economic Computation & Economic Cybernetics Studies & Research, 53(1), 107–15. doi:10.24818/18423264/53.1.19.07
   Web of Science ®Google Scholar
• Anderson, D. R., & Nevin, J. R. (1975). Determinants of young marrieds’ life insurance purchasing behavior: An empirical investigation. The Journal of Risk and Insurance, 42, 375–387. doi:10.2307/251694
   Web of Science ®Google Scholar
• Asongu, S. A., & Odhiambo, N. M. (2019). Insurance policy thresholds for economic growth in Africa. The European Journal of Development Research, 1–18. doi:10.1057/s41287-019-00234-2
   Web of Science ®Google Scholar
• Auerbach, A. T., & Kotlikoff, L. J. (1989). How rational is the purchase of life insurance? Working paper presented at the National Bureau of Economic Research, no 3063.
   Google Scholar
• Beck, T., & Webb, I. (2003). Economic, demographic and institutional determinants of life insurance consumption. The World Bank Economic Review, 17(1), 51–88. doi:10.1093/wber/lhg011
   Web of Science ®Google Scholar
• Beenstock, M., Dickinson, G., & Khajuria, S. (1986). The determination of life premiums: An international cross-section analysis, 1970–1981. Insurance: Mathematics and Economics, 5, 261–270.
   Web of Science ®Google Scholar
• Browne, M. J., & Kim, K. (1993). An international analysis of life insurance demand. The Journal of Risk and Insurance, 60, 617–634. doi:10.2307/253382
   Web of Science ®Google Scholar
• Burduja, S. I., Gaman, F., Giosan, V., Glenday, G., Huddlestan, E. N., Ionescu-Heroiu, M., … Ha Ti Tu Vu. (2014). Identification of project selection models for the regional operational program 2014–2020. Washington, DC: World Bank.
   Google Scholar
• Busega, I. (2016). The impact of economic crisis on regional disparities in Romania. Testing Williamson’s hypothesis in the context of economic and financial turmoil. Romanian Review of Regional Studies, 12(1), 13–24.
   Google Scholar
• Chang, C. H., & Lee, C. C. (2012). Non-linearity between life insurance and economic development: A revisited approach. The Geneva Risk and Insurance Review, 37, 223–257. doi:10.1057/grir.2011.10
   Web of Science ®Google Scholar
• Ciccarelli, C., & Elhorst, J. P. (2018). A dynamic spatial econometric diffusion model with common factors: The rise and spread of cigarette consumption in Italy. Regional Science and Urban Economics, 72, 131–142. doi:10.1016/j.regsciurbeco.2017.07.003
   Web of Science ®Google Scholar
• Cracolici, M. F., Cuffaro, M., & Nijkamp, P. (2007). Geographical distribution of unemployment: An analysis of provincial differences in Italy. Growth and Change, 38(4), 642–665. doi:10.1111/j.1468-2257.2007.00391.x
   Web of Science ®Google Scholar
• Cristea, M., Mare, C., Moldovan, C., China, A. M., Farole, T., Vintan, A., … Ionescu-Heroiu, M. (2017). Magnet cities: Migration and commuting in Romania. Washington, DC: World Bank.
   Google Scholar
• Dachin, A., & Popa, R. (2011). Regional disparities in employment structures and productivity in Romania. Romanian Journal of Regional Science, 5(2), 65–75.
   Google Scholar
• Dragos, S. L. (2014). Life and non-life insurance demand: The different effects of influence factors in emerging countries from Europe and Asia. Economic Research-Ekonomska Istraživanja, 27(1), 169–180. doi:10.1080/1331677X.2014.952112
   Web of Science ®Google Scholar
• Dragos, S. L., Mare, C., Dragota, I. M., Dragos, C. M., & Muresan, G. M. (2017). The nexus between the demand for life insurance and institutional factors in Europe: New evidence from a panel data approach. Economic Research-Ekonomska Istraživanja, 30(1), 1477–1496. doi:10.1080/1331677X.2017.1325764
   Web of Science ®Google Scholar
• Emamgholipour, S., Arab, M., & Mohajerzadeh, Z. (2017). Life insurance demand: Middle East and North Africa. International Journal of Social Economics, 44(4), 521–529. doi:10.1108/IJSE-04-2015-0106
   Web of Science ®Google Scholar
• Fortune, P. (1973). A theory of optimal life insurance: Development and test. Journal of Finance, 27, 587–600.
   Google Scholar
• Goschin, Z., Constantin, D. L., Roman, M., & Ileanu, B. (2007) Disparităţile regionale din România în contextul politicii de coeziune a Uniunii Europene [Regional Disparities in Romania in the Context of EU’s Cohesion Policy]. Theoretical and Applied Economics, Supplement “Romania in the European Union. Quality of Integration. Regional Development”. Bucharest. pp. 19–26. doi: 10.1016/j.jinorgbio.2006.07.015
   Google Scholar
• Guiso, L., & Jappelli, T. (1998). Background uncertainty and the demand for insurance against insurable risks. Geneva Papers of Risk and Insurance Theory, 23(1), 7–27. doi:10.1023/A:1008621712979
   Google Scholar
• Hammond, J. D., Houston, D. B., & Melander, E. R. (1967). Determinants of household life insurance premium expenditures: An empirical investigation. The Journal of Risk and Insurance, 34(3), 397. doi:10.2307/250854
   Web of Science ®Google Scholar
• Hwang, T, & Gao, S. (2003). The determinants of the demand for life insurance in an emerging economy–the case of china. Managerial Finance, 29(5/6), 82–96.
   Google Scholar
• Insurance Europe. (2015). European insurance in figures – 2015 data. https://www.insuranceeurope.eu/
   Google Scholar
• Lee, H. S., Chong, S. C., & Sia, B. K. (2018). Influence of secondary and tertiary literacy on life insurance consumption: Case of selected ASEAN countries. The Geneva Papers on Risk and Insurance-Issues and Practice, 43(1), 1–15. doi:10.1057/s41288-017-0050-7
   Web of Science ®Google Scholar
• Lenten, L. J., & Rulli, D. N. (2006). A time-series analysis of the demand for life insurance companies in Australia: Unobserved components approach. Australian Journal of Management, 31(1), 41–66. doi:10.1177/031289620603100104
   Google Scholar
• Lewis, F. D. (1989). Dependents and the demand for life insurance. American Economic Review, 79, 452–467.
   Web of Science ®Google Scholar
• Li, D., Moshirian, F., Nguyen, P., & Wee, T. (2007). The demand for life insurance in OECD countries. The Journal of Risk and Insurance, 74(3), 637–652. doi:10.1111/jori.2007.74.issue-3
   Web of Science ®Google Scholar
• López-Bazo, E., Del Barrio, T., & Artis, M. (2002). The regional distribution of Spanish unemployment: A spatial analysis. Papers in Regional Science, 81(3), 365–389. doi:10.1007/s101100200128
   Web of Science ®Google Scholar
• López-Bazo, E., Del Barrio, T., & Artis, M. (2005). Geographical distribution of unemployment in Spain. Regional Studies, 39(3), 305–318. doi:10.1080/00343400500087034
   Web of Science ®Google Scholar
• Maguain, D., & Fréret, S. (2013). The determinants of welfare spending in France: A spatial panel econometric approach. Annals of Economics and Statistics, 109/110, 93–129. doi:10.2307/23646428
   Google Scholar
• Mare, C., Dragos, S. L., Dragota, I. M., Muresan, G. M., & Urean, C. A. (2016). Spatial convergence processes on the European Union’s life insurance market. Economic Computation and Economic Cybernetics Studies and Research, 50(4), 93–107.
   Web of Science ®Google Scholar
• Millo, G., & Carmeci, G. (2011). Non-life insurance consumption in Italy: A sub-regional panel data analysis. Journal of Geographical Systems, 13(3), 273–298. doi:10.1007/s10109-010-0125-5
   Web of Science ®Google Scholar
• Millo, G., & Carmeci, G. (2015). A subregional panel data analysis of life insurance consumption in Italy. Journal of Risk and Insurance, 82(2), 317–340. doi:10.1111/jori.v82.2
   Web of Science ®Google Scholar
• Nesterova, D. (2008). Determinants of the demand for life insurance: Evidence from selected CIS and CEE countries. National University “Kyiv-Mohyla Academy, 1-49.
   Google Scholar
• Outreville, J. F. (1990). The economic significance of insurance markets in developing countries. The Journal of Risk and Insurance, 18(3), 487–498. doi:10.2307/252844
   Google Scholar
• Outreville, J. F. (1996). Life insurance markets in developing countries. The Journal of Risk and Insurance, 63(2), 263–278. doi:10.2307/253745
   Web of Science ®Google Scholar
• Overman, H. G., & Puga, D. (2002). Unemployment cluster across Europe’s regions and countries. Economic Policy, 34, 116–147.
   Google Scholar
• PRIMM Insurance & Pensions Review. (2015). Regional figures: Cluj and timiș dominate the regional insurance market. no 4 (142),year XVI:12–23. Bucharest: Media XPRIMM Romania.
   Google Scholar
• Romanian National Institute of Statistics. (2015) Retrieved from http://statistici.insse.ro:8077/tempo-online/#/pages/tables/insse-table
   Google Scholar
• Truett, D. B., & Truett, L. J. (1990). The demand for life insurance in Mexico and the United States: A comparative study. The Journal of Risk and Insurance, 57, 321–328. doi:10.2307/253306
   Web of Science ®Google Scholar
• Ward, D., & Zurbruegg, R. (2002). Law, politics and life insurance in Asia. The Geneva Papers on Risk and Insurance, 27(3), 395–412. doi:10.1111/1468-0440.00181
   Web of Science ®Google Scholar
• Zangger, C. (2019). Making a place for space: Using spatial econometrics to model neighborhood effects. Journal of Urban Affairs, 41(8), 1055–1080. doi:10.1080/07352166.2019.1584530.
   PubMed Web of Science ®Google Scholar