خلاصة:
The purpose of this study is to investigate the effects of Economic Policy Uncertainty (EPU) on the insurance industry in the Middle East and North Africa in the period 2000 to 2020. In this study, for the EPU variable, a composite index consisting of four policy variables is defined and calculated. The results of PMG estimation method for all three models of the present study show that EPU increases the premium in the short and long term and its long-term effect is greater than the short-term effect. Also, the variables of income, education, population, financial development index and institutional quality have increased premiums (in general, life and non-life) and their impact is positive and significant, but inflation variables have a negative and significant effect on premiums in all it has research models. Based on the research results, it is recommended to adopt appropriate and sustainable economic policies, pay attention to financial development, promote financial literacy and the quality of institutions for the prosperity of the insurance industry.
ملخص الجهاز:
ir Article Type: Scientific-Research Date Received: 2022/06/04 Date Accepted: 2022/07/12 Abstract: The aim of the present study is to investigate the effects of economic policy uncertainty () on the insurance industry in Middle East and North African countries during the period 2000 to 2020.
Additionally, the variables of income, education, population, financial development index, and institutional quality lead to an increase in insurance premiums (general, life, and non-life), and their effects are positive and significant; however, the inflation variable has a negative and significant effect on insurance premiums in all research models.
Williams 2 (2018) investigated the impact of economic policy uncertainty on insurance premiums in 15 countries during the period 1998-2016 using the panel data method.
In this research, to investigate the relationship between economic policy uncertainty and insurance premiums, three models are specified as follows, where the research patterns and variables have been selected using past research and following the studies of Balcilar et al.
Arshed The results of the PMG estimation method for all three models of the present research indicate that in both the short and long term, the variables of economic policy uncertainty, income, education, population, financial development index, and institutional quality cause an increase in insurance premiums, and their effects are also positive and significant; however, the inflation variable has a negative and significant effect on insurance premiums in all models and time periods.
Based on the results obtained from the model estimations, the research hypotheses based on the positive and significant relationship between economic policy uncertainty and insurance premiums (total, life, and non-life) are confirmed.
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