Insurance Activity and Economic Growth Nexus in 31 Regions of China: Bootstrap Panel Causality Test

Hongbing Hu (), Meng Su () and Wenhua Lee ()
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Hongbing Hu: Zhongnan University of Economics and Law, Wuhan.
Meng Su: ZNUFE
Wenhua Lee: ZNUFE

Journal for Economic Forecasting, 2013, issue 3, 182-198

Abstract: This study applies the bootstrap panel Granger causality test to investigate the relationship between insurance activity and economic growth using data from 31 regions of China over the period 1997-2011. Empirical results indicate that the direction of causality seems to be in favor of the neutrality hypothesis in 21 out of 31 regions and a one-way Granger causality running from economic growth to insurance activity in 7 regions. Regarding the direction of insurance activity to economic growth nexus, we find a one-way Granger causality from insurance activity to economic growth for Jiangsu, Zhejiang, and Shandong.

Keywords: insurance activity; economic growth; Bootstrap Panel Granger Causality Test (search for similar items in EconPapers)
JEL-codes: C23 G22 O16 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (4)

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