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Culture and the demand for non-life insurance: Empirical evidences from middle-income and high-income economies*
Economics of Transition and Institutional Change Pub Date : 2021-02-15 , DOI: 10.1111/ecot.12274
Cong Tam Trinh 1 , Xuan Nguyen 2 , Pasquale Sgro 2
Affiliation  

This paper investigates the impact of culture on non-life insurance expenditure using a panel dataset covering 27 middle-income countries and 40 high-income countries in the period 1980–2014. Based on the two-step system GMM estimator, it is found that several cultural dimensions such as masculinity, uncertainty avoidance and power distance significantly explain the spending on non-life insurance in middle-income countries, while masculinity is the only cultural factor that significantly explains spending on non-life insurance in high-income countries. Traditional drivers of the demand for non-life insurance, such as per capita income, economic freedom and urbanization, also behave differently comparing between the two income-based groups of countries. These findings provide useful recommendations for business firms and policymakers around the world, especially transitional economies, to promote and sustain the development of the non-life insurance sector, which is an important engine for growth and prosperity.

中文翻译:

文化与非寿险需求:来自中等收入和高收入经济体的实证证据*

本文使用涵盖 1980 年至 2014 年期间 27 个中等收入国家和 40 个高收入国家的面板数据集,研究了文化对非人寿保险支出的影响。基于两步系统 GMM 估计器发现,男性气质、不确定性规避和权力距离等几个文化维度显着解释了中等收入国家的非寿险支出,而男性气质是唯一显着影响非寿险支出的文化因素。解释了高收入国家在非人寿保险上的支出。非寿险需求的传统驱动因素,如人均收入、经济自由和城市化,在两个以收入为基础的国家组之间也表现出不同的表现。
更新日期:2021-02-15
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