The importance of insurance companies for the capital market development and economic growth in North Macedonia

Mitreva, Mila (2023) The importance of insurance companies for the capital market development and economic growth in North Macedonia. Economic Development-Journal of the Institute of Economics Skopje, 25 (3/2023). pp. 47-59. ISSN 1857-7741

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Abstract

In this paper, through regression analysis the effect of the insurance sector on the economic growth and the capital market in N. Macedonia was analyzed for the period 2014-2022. The main variables used in the analysis were GDP, Stock Market Capitalization, Bond Market Capitalization and
Assets of Insurance Companies. Hence, considering the participation of 1.54% of the insurance sector in the N. Macedonian GDP, as well as the asset allocation of the insurance companies, the obtained results were according to
the expectations. On one hand, the insurance companies showed negative effect on GDP, which may be due to the very low participation in the total GDP, but they showed positive effect on the stock market capitalization.
Additionally, bidirectional causality with positive effect was determined
between the GDP and Stock Market Capitalization.

Item Type:	Article
Subjects:	Social Sciences > Economics and business
Divisions:	Faculty of Economics
Depositing User:	Mila Mitreva
Date Deposited:	28 Dec 2023 08:34
Last Modified:	28 Dec 2023 08:34
URI:	https://eprints.ugd.edu.mk/id/eprint/33134

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