A matter of life or non-life: the role of economic uncertainty on insurance consumption

Tolga Er*, Ender Demir

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review

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Abstract

This paper examines the effect of economic uncertainty proxied by the World Uncertainty Index on life and non-life
insurance consumption using a panel dataset from 114 countries between 1996 and 2017. We find evidence that while
higher economic uncertainty lowers life insurance penetration, non-life insurance penetration remains unaffected by
economic uncertainty.
Original languageEnglish
Pages (from-to)1305-1313
Number of pages9
JournalEconomics Bulletin
Volume42
Issue number3
Publication statusPublished - 30 Sept 2022
Externally publishedYes

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