Akademik Veri Yönetim Sistemi
Akademik Araştırmalar ve Çalışmalar Dergisi, cilt.12, sa.23, ss.442-451, 2020 (Hakemli Dergi)
Funds collected as insurance premiums are very important for the development and deepening of the national
economies. These premiums paid to insurance companies provide funds for capital markets by creating savings
sources. The objective of this study is to investigate how and in what direction the insurance premium volume
affects the economic growth of these 25 countries. For this purpose, Johansen Cointegration, Kao cointegration,
panel FMOLS, Dumitrescu and Hurlin (2012) Panel Granger Causality methods were used. Cointegration tests
show that economic growth and insurance premium volume variables have long-term cointegration
relationships. As stated in Panel FMOLS test results, a 1% of increase in insurance premium volumes leads to a
rise of 0.113% in economic growth. In accordance with Dumitrescu and Hurlin (2012) panel Granger causality
analysis, there is unidirectional causality from insurance volumes towards economic growth.