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Non-life insurance consumption in Italy: a sub-regional panel data analysis

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  • Giovanni Millo
  • Gaetano Carmeci
Abstract
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  • Giovanni Millo & Gaetano Carmeci, 2011. "Non-life insurance consumption in Italy: a sub-regional panel data analysis," Journal of Geographical Systems, Springer, vol. 13(3), pages 273-298, September.
    • Handle: RePEc:kap:jgeosy:v:13:y:2011:i:3:p:273-298
    DOI: 10.1007/s10109-010-0125-5
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    References listed on IDEAS

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    1. Bera, Anil K. & Sosa-Escudero, Walter & Yoon, Mann, 2001. "Tests for the error component model in the presence of local misspecification," Journal of Econometrics, Elsevier, vol. 101(1), pages 1-23, March.
    2. M. Hashem Pesaran, 2021. "General diagnostic tests for cross-sectional dependence in panels," Empirical Economics, Springer, vol. 60(1), pages 13-50, January.
    3. Stephanie Hussels & Damian Ward & Ralf Zurbruegg, 2005. "Stimulating the Demand for Insurance," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 8(2), pages 257-278, September.
    4. Jonathan Gruber & James M. Poterba, 1993. "Tax Incentives and the Decision to Purchase Health Insurance: Evidence from the Self-Employed," NBER Working Papers 4435, National Bureau of Economic Research, Inc.
    5. Baltagi, Badi H. & Heun Song, Seuck & Cheol Jung, Byoung & Koh, Won, 2007. "Testing for serial correlation, spatial autocorrelation and random effects using panel data," Journal of Econometrics, Elsevier, vol. 140(1), pages 5-51, September.
    6. Luigi Guiso & Tullio Jappelli, 1998. "Background Uncertainty and the Demand for Insurance Against Insurable Risks," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 23(1), pages 7-27, June.
    7. Robert G. King & Ross Levine, 1993. "Finance and Growth: Schumpeter Might Be Right," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(3), pages 717-737.
    8. MOSSIN, Jan, 1968. "Aspects of rational insurance purchasing," LIDAM Reprints CORE 23, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    9. Briys, Eric & Dionne, Georges & Eeckhoudt, Louis, 1989. "More on Insurance as a Giffen Good," Journal of Risk and Uncertainty, Springer, vol. 2(4), pages 415-420, December.
    10. Jonathan Gruber & James Poterba, 1994. "Tax Incentives and the Decision to Purchase Health Insurance: Evidence from the Self-Employed," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 109(3), pages 701-733.
    11. Luigi Guiso & Paola Sapienza & Luigi Zingales, 2008. "Trusting the Stock Market," Journal of Finance, American Finance Association, vol. 63(6), pages 2557-2600, December.
    12. Croissant, Yves & Millo, Giovanni, 2008. "Panel Data Econometrics in R: The plm Package," Journal of Statistical Software, Foundation for Open Access Statistics, vol. 27(i02).
    13. Neil Esho & Anatoly Kirievsky & Damian Ward & Ralf Zurbruegg, 2004. "Law and the Determinants of Property‐Casualty Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 71(2), pages 265-283, June.
    14. Borch, Karl, 1986. "Insurance and Giffen's paradox," Economics Letters, Elsevier, vol. 20(4), pages 303-306.
    15. Croissant, Yves & Millo, Giovanni, 2008. "Panel Data Econometrics in R: The plm Package," Journal of Statistical Software, Foundation for Open Access Statistics, vol. 27(i02).
    16. Baltagi, Badi H. & Li, Qi, 1995. "Testing AR(1) against MA(1) disturbances in an error component model," Journal of Econometrics, Elsevier, vol. 68(1), pages 133-151, July.
    17. Rudolf Enz, 2000. "The S-Curve Relation Between Per-Capita Income and Insurance Penetration," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 25(3), pages 396-406, July.
    18. G. Albareto & R. Bronzini & D. Caprara & A. Carmignani & A. Venturini, 2008. "Real and Financial Wealth of Italian Households Region by Region from 1998 through 2005," Rivista economica del Mezzogiorno, Società editrice il Mulino, issue 1, pages 127-162.
    19. Thorsten Beck & Ian Webb, 2003. "Economic, Demographic, and Institutional Determinants of Life Insurance Consumption across Countries," The World Bank Economic Review, World Bank, vol. 17(1), pages 51-88, June.
    20. Arthur Hau, 2008. "When Is a Coinsurance‐Type Insurance Policy Inferior or Even Giffen?," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 75(2), pages 343-364, June.
    21. Hoy, Michael & Robson, Arthur J., 1981. "Insurance as a Giffen good," Economics Letters, Elsevier, vol. 8(1), pages 47-51.
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    Citations

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    Cited by:

    1. Millo, Giovanni, 2014. "Maximum likelihood estimation of spatially and serially correlated panels with random effects," Computational Statistics & Data Analysis, Elsevier, vol. 71(C), pages 914-933.
    2. Giovanni Millo, 2022. "The generalized spatial random effects model in R," Journal of Spatial Econometrics, Springer, vol. 3(1), pages 1-18, December.
    3. Giovanni Millo, 2024. "An Ad Hoc Procedure for Testing Serial Correlation in Spatial Fixed-Effects Panels," Mathematics, MDPI, vol. 12(10), pages 1-18, May.
    4. Salvatore D. Tomarchio & Paul D. McNicholas & Antonio Punzo, 2021. "Matrix Normal Cluster-Weighted Models," Journal of Classification, Springer;The Classification Society, vol. 38(3), pages 556-575, October.
    5. Giovanni Millo, 2016. "The Income Elasticity of Nonlife Insurance: A Reassessment," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 83(2), pages 335-362, June.
    6. Yuan, Cheng & Jiang, Yu, 2020. "The marginal propensity to insure: An international analysis," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 102-109.
    7. Roger Bivand & Giovanni Millo & Gianfranco Piras, 2021. "A Review of Software for Spatial Econometrics in R," Mathematics, MDPI, vol. 9(11), pages 1-40, June.
    8. Lester, Rodney, 2014. "Insurance and inclusive growth," Policy Research Working Paper Series 6943, The World Bank.
    9. Martin Eling & Dieter Kiesenbauer, 2012. "Does Surplus Participation Reflect Market Discipline? An Analysis of the German Life Insurance Market," Journal of Financial Services Research, Springer;Western Finance Association, vol. 42(3), pages 159-185, December.
    10. Lee, Hui Shan & Cheng, Fan Fah & Chong, Shyue Chuan & Sia, Bik Kai, 2018. "Influence of Macroeconomics Factors and Legal Stability to the Insurance Growth in the ASEAN-5 Countries," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 52(2), pages 219-229.
    11. MUKHERJEE Abhijit & GHOSH Amlan, 2022. "Role Of Economic Factors In Property Liability Insurance Consumption: Empirically Examining The Indian Market," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 17(1), pages 112-129, April.
    12. Millo, Giovanni, 2017. "A simple randomization test for spatial correlation in the presence of common factors and serial correlation," Regional Science and Urban Economics, Elsevier, vol. 66(C), pages 28-38.
    13. Patricia Born & Douglas Bujakowski, 2022. "Economic transition and insurance market development: evidence from post-communist European countries," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 47(1), pages 201-237, March.
    14. Caterina Conigliani & Martina Iorio & Salvatore Monni, 2024. "Accesses to water, electricity, and sustainable development: evidence from the Amazonian State of Parà," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 12(1), pages 179-194, September.

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    More about this item

    Keywords

    Insurance development; Regional panel; Spatial dependence; C31; C33; G22;
    All these keywords.

    JEL classification:

    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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