The Role of Insurance Development in Financial and Economic Growth in Iran

4 Pages Posted: 16 Aug 2019

See all articles by Hossein Niavand

Hossein Niavand

University of Mysore, BN Bahadur Institute of Management Sciences, Department of Studies in Business Administration, Students

Date Written: August 13, 2019

Abstract

The insurance sector in Iran is one of the most booming sectors of the economy and is growing at the rate of 10-20 percent per annum. In Iran, insurance is a flourishing industry, with several national and international players competing with each other. Iranian insurance companies offer a comprehensive range of insurance plans. In this investigation, we examine the impact of insurance in the process of financial development and economic growth. According to the obtained results, there is a unidirectional causality relation from insurance development to financial growth. Therefore, we conclude that insurance development is an important prerequisite for stimulating financial growth in Iran.

Keywords: Insurance, Insurance premium, Financial development, Economic growth

Suggested Citation

Niavand, Hossein, The Role of Insurance Development in Financial and Economic Growth in Iran (August 13, 2019). Available at SSRN: https://ssrn.com/abstract=3436958 or http://dx.doi.org/10.2139/ssrn.3436958

Hossein Niavand (Contact Author)

University of Mysore, BN Bahadur Institute of Management Sciences, Department of Studies in Business Administration, Students ( email )

India

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