Effects of the Single Market on the Austrian Insurance Industry

Posted: 6 Feb 2012

See all articles by Thomas Url

Thomas Url

Austrian Institute of Economic Research (WIFO)

Bernhard Mahlberg

Institute for Industrial Research (IWI); Vienna University of Economics and Business - Institute for Production Management

Date Written: 2003

Abstract

The integration of European services markets and the implementation of associated European Union directives open up formerly closed national markets to competition from the Single Market. The purpose of this study is to measure the effects of liberalization on technical efficiency and the productivity development of the insurance industry. As an example we construct efficiency frontiers for the years 1992 through 1999 for the Austrian insurance industry using Data Envelopment Analysis. We use the resulting efficiency scores also to construct a Malmquist productivity index for the transition period. In search for effects from the Single Market, returns to scale, economies of diversification, and distribution channels we relate efficiency and productivity measures to several firm specific characteristics. For this purpose we use unbalanced and balanced panels of individual firm data.

Keywords: European integration, data envelopment analysis, panel regression, bancassurance

JEL Classification: L50, G22, C14

Suggested Citation

Url, Thomas and Mahlberg, Bernhard, Effects of the Single Market on the Austrian Insurance Industry (2003). Empirical Economics, Vol. 18, No. 4, 2003. Available at SSRN: https://ssrn.com/abstract=1999355

Thomas Url (Contact Author)

Austrian Institute of Economic Research (WIFO) ( email )

P.O. Box 91
Wien, A-1103
Austria

Bernhard Mahlberg

Institute for Industrial Research (IWI) ( email )

Mittersteig 10/4
Vienna, 1050
Austria
+43 1 513 44 11 0 (Phone)
+43 1 513 44 11 2099 (Fax)

HOME PAGE: http://www.iwi.ac.at/

Vienna University of Economics and Business - Institute for Production Management ( email )

Welthandelsplatz 1
Building D2, Entrance C, 3rd floor
Vienna, 1020
Austria
+43 1 313 36 - 5615 (Phone)

HOME PAGE: http://https://www.wu.ac.at/en/prodmanengl/

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