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

D. O. Olayungbo

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, Ile-Ife, Nigeria

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

Reference Format

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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.

Data Availability

Not applicable for this article.

How to Cite This Article

D. O. Olayungbo. 2016. "Effects of Life and Non-Life Insurance on Economic Growth in Nigeria: An Autoregressive Distributed Lag (ARDL) Approach". 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

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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

Version of record

v1.2

Issue date

January 11, 2016

Language

English

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Article Matrices

Total Score: 148

Country: Nigeria

Subject: Global Journal of Management and Business Research

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

View Count (all-time): 378

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Publish Date: 2015 03, Sun

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