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The effect of banking and insurance ...

Webb, Ian Patrick.

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The effect of banking and insurance on the growth of capital and output.

紀錄類型:	書目-語言資料,印刷品 : Monograph/item
正題名/作者:	The effect of banking and insurance on the growth of capital and output./
作者:	Webb, Ian Patrick.
面頁冊數:	106 p.
附註:	Chairman: Harold D. Skipper, Jr.
Contained By:	Dissertation Abstracts International61-03A.
標題:	Business Administration, Banking. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9967334
ISBN:	0599720727

The effect of banking and insurance on the growth of capital and output.
Webb, Ian Patrick.

The effect of banking and insurance on the growth of capital and output. - 106 p.

Chairman: Harold D. Skipper, Jr.

Thesis (Ph.D.)--Georgia State University, 2000.

This paper examines the mechanisms by which banking and insurance may stimulate economic growth. Liquidity, risk pooling and project monitoring services come bundled within the variety of different products offered by banks and insurers. The attractiveness of these services to consumers and entrepreneurs is thought to stimulate savings and investment by generating greater banking and insurance activity. The resulting intermediation of funds by these financial institutions, in turn, may drive a more efficient allocation of resources.

ISBN: 0599720727Subjects--Topical Terms:

1018458
Business Administration, Banking.

The effect of banking and insurance on the growth of capital and output.
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100 1 $a Webb, Ian Patrick. $3 1262799
245 1 0 $a The effect of banking and insurance on the growth of capital and output.
300 $a 106 p.
500 $a Chairman: Harold D. Skipper, Jr.
500 $a Source: Dissertation Abstracts International, Volume: 61-03, Section: A, page: 1061.
502 $a Thesis (Ph.D.)--Georgia State University, 2000.
520 $a This paper examines the mechanisms by which banking and insurance may stimulate economic growth. Liquidity, risk pooling and project monitoring services come bundled within the variety of different products offered by banks and insurers. The attractiveness of these services to consumers and entrepreneurs is thought to stimulate savings and investment by generating greater banking and insurance activity. The resulting intermediation of funds by these financial institutions, in turn, may drive a more efficient allocation of resources.
520 $a The relationship between financial intermediation and growth is analyzed within a Solow-Swan framework. Within this model banks and insurers are seen to boost output through their effect on the rate and quality of investment. The model developed in this dissertation suggests that financial intermediary activity be evaluated alongside global technology growth as a source of productivity gains across economies.
520 $a The direction in which causality runs between economic growth and financial services penetration is not known <italic>a priori</italic>. It may be that financial intermediation stimulates economic activity, or just accompanies it as a side-effect of growth. Taking the suggestion of some authors, this dissertation evaluates the potentially endogenous relationships that may exist between banking, life insurance, property-liability insurance, investment, and gross domestic product. Empirical specifications of the revised Solow-Swan model that incorporate both financial intermediation and economic growth in unidirectional and bi-directional relationships are developed and tested. The estimations are then carried out with an expanded cross-country data set, permitting a broad and in-depth evaluation of the role of insurance and banking together in economic growth.
520 $a A Hausman test reveals that the assumption of exogeneity is not supported for the financial intermediary and investment variables in this model. Results from the estimations of the simultaneous systems of equations show that property-liability insurance, life insurance, and banking all have significant roles in explaining productivity gains made by countries over the 16 year time period. The results also suggest that gains in investment per capita are explained by rising growth rates of economies, and not vice-versa.
520 $a The significance of interaction terms between banking and insurance suggest that synergies exist between these financial intermediaries. The results indicate, consequently, that not only are the exogenous components of banking, life insurance and property-liabilty insurance important predictors of economic productivity, but when they interact they provides an explanation for additional gains to productivity in these countries.
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773 0 $t Dissertation Abstracts International $g 61-03A.
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790 1 0 $a Skipper, Harold D., Jr., $e advisor
791 $a Ph.D.
792 $a 2000
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