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P.-F., Chen, C.-C. Li and C.-F. Chen, “How Does the Development of the Life Insurance Market Affect Economic Growth? Some International Evidence,” Journal of International Development, Vol. 24, No. 7, 2011, pp. 865-893.

has been cited by the following article:

• TITLE: Relationship between Insurance and Economic Growth in Sub-Saharan African: A Panel Data Analysis

  AUTHORS: Taiwo Akinlo, Olumuyiwa Tolulope Apanisile

  KEYWORDS: Insurance Sector; Economic Growth; Panel Data Analysis

  JOURNAL NAME: Modern Economy, Vol.5 No.2, February 19, 2014

  ABSTRACT: This study examined the relationship between insurance and economic growth in sub-Saharan Africa over the period 1986-2011. Pooled OLS, Fixed Effect Model and Generalized Method of Moment Panel Model were employed in the estimation. The estimations of the dynamic panel-data results show that insurance has positive and significance impact on economic growth in sub-Saharan Africa. This shows that premium contributes to economic growth in sub-Saharan Africa which means that a well-developed insurance sector is necessary for the economic development, as it provides long-term investments for economic growth and simultaneously strengthening risk-taking abilities. The results also show that human capita has positive significant impact on economic growth. Openness and interest rate have negative and statistical significant on economic growth.