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@article{ART001393415},
author={신종협 and Daigyo Seo},
title={The Determinants of Insurance Demand in Selected Developed Countries Including Korea},
journal={Journal of Insurance and Finance},
issn={2384-3209},
year={2009},
volume={20},
number={3},
pages={67-96}

TY - JOUR
AU - 신종협
AU - Daigyo Seo
TI - The Determinants of Insurance Demand in Selected Developed Countries Including Korea
JO - Journal of Insurance and Finance
PY - 2009
VL - 20
IS - 3
PB - Korea Insurance Research Institute
SP - 67
EP - 96
SN - 2384-3209
AB - This paper analyzes the determinants of insurance demand for selected developed countries and Korea using Panel estimation methods or OLS methods. From the empirical results of the paper, we find some differences between the effects of the determinants in selected developed countries and those in korea. In the case of life insurance industry, demand for insurance depends on expected inflation rates, real interest rates, political rights, financial market development, and the price of insurance in developed countries, while it relies on permanent income, old population ratios, political rights, and financial market development in Korea. On the other hand, in the non-life insurance industry, demand for insurance is significantly related to permanent income, real interest rates, political rights, urbanization, and financial market development in developed countries, and it has much to do with permanent income, expected inflation rates, real interest rates, and financial market development in Korea. The biggest difference, in developed countries, between life insurance industry and non-life insurance industry arises from the empirical results that expected inflation rates affects only the demand for life insurance and permanent income influences only the demand for non-life insurance. We might attribute the discrepancy in the effects of economic factors such as expected inflation rates and rel interest rates between developed countries and Korea to the short time series of korean data.
KW - determinants of insurance demand;insurance in developed countries; OLS methods;unbalanced panel analyses
DO -
UR -
ER -

신종협 and Daigyo Seo. (2009). The Determinants of Insurance Demand in Selected Developed Countries Including Korea. Journal of Insurance and Finance, 20(3), 67-96.

신종협 and Daigyo Seo. 2009, "The Determinants of Insurance Demand in Selected Developed Countries Including Korea", Journal of Insurance and Finance, vol.20, no.3 pp.67-96.

신종협, Daigyo Seo "The Determinants of Insurance Demand in Selected Developed Countries Including Korea" Journal of Insurance and Finance 20.3 pp.67-96 (2009) : 67.

신종협, Daigyo Seo. The Determinants of Insurance Demand in Selected Developed Countries Including Korea. 2009; 20(3), 67-96.

신종협 and Daigyo Seo. "The Determinants of Insurance Demand in Selected Developed Countries Including Korea" Journal of Insurance and Finance 20, no.3 (2009) : 67-96.

신종협; Daigyo Seo. The Determinants of Insurance Demand in Selected Developed Countries Including Korea. Journal of Insurance and Finance, 20(3), 67-96.

신종협; Daigyo Seo. The Determinants of Insurance Demand in Selected Developed Countries Including Korea. Journal of Insurance and Finance. 2009; 20(3) 67-96.

신종협, Daigyo Seo. The Determinants of Insurance Demand in Selected Developed Countries Including Korea. 2009; 20(3), 67-96.

신종협 and Daigyo Seo. "The Determinants of Insurance Demand in Selected Developed Countries Including Korea" Journal of Insurance and Finance 20, no.3 (2009) : 67-96.