Effects of Life and Non-Life Insurance on Economic Growth in Nigeria: An Autoregressive Distributed Lag (ARDL) Approach

Effects of Life and Non-Life Insurance on Economic Growth in Nigeria: An Autoregressive Distributed Lag (ARDL) Approach

D. O. Olayungbo

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Obafemi Awolowo University

Effects of Life and Non-Life Insurance on Economic Growth in Nigeria: An Autoregressive Distributed Lag (ARDL) Approach

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Abstract

This paper investigates separately the effects of life and non-life insurance on economic growth in Nigeria from 1976 to 2013. The Autoregressive Distributed lags (ARDL) was adopted given the different order of integration of the variables of interest. After estimating a growth model, the bound test shows a long run relationship to exist among economic life, non-life insurance and economic growth in Nigeria over the period of study. The long run and the short run dynamics further confirms the positive and significant contribution of life and non-life insurance on economic growth in Nigeria. The paper concludes that life and non-life insurance acts as complements to economic growth in Nigeria rather substitutes.

References

20 Cites in Article

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

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How to Cite This Article

D. O. Olayungbo. 2016. \u201cEffects of Life and Non-Life Insurance on Economic Growth in Nigeria: An Autoregressive Distributed Lag (ARDL) Approach\u201d. Global Journal of Management and Business Research - C: Finance GJMBR-C Volume 15 (GJMBR Volume 15 Issue C11): .

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GJMBR Volume 15 Issue C11
Pg. 33- 40

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords

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Classification

GJMBR-C Classification: JEL Code: C11, G22, O11

Submission ReceivedFebruary 5, 2015
Peer Review Double Blind
Handling Editor
Accepted March 5, 2015
Published March 15, 2015

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v1.2

Issue date

January 11, 2016

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Article Matrices

Total Score: 101

Country: Nigeria

Subject: Global Journal of Management and Business Research - C: Finance

Authors: D. O. Olayungbo (PhD/Dr. count: 0)

View Count (all-time): 170

Total Views (Real + Logic): 4218

Total Downloads (simulated): 1956

Publish Date: 2016 01, Mon

Monthly Totals (Real + Logic):

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Total Views: 4218

Total Downloads: 1956

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