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dc.contributor.authorCummins, J. David
dc.contributor.authorRubio-Misas, María 
dc.date.accessioned2022-04-22T10:15:08Z
dc.date.available2022-04-22T10:15:08Z
dc.date.issued2021-12
dc.identifier.citationCummins, J. david ; Rubio-Misas, Maria. Country factor behavior for integration improvement of European life insurance markets. Economic Analysis and Policy Volume 72, December 2021, Pages 186-202. https://doi.org/10.1016/j.eap.2021.08.004es_ES
dc.identifier.urihttps://hdl.handle.net/10630/23961
dc.description.abstractThis paper provides evidence of the role that financial market development and institutional quality play in the integration of European Union (EU) life insurance markets. It analyzes ten EU life insurance markets over a seventeen-year sample period. The meta-technology cost/revenue efficiency ratios, estimated under the meta-frontier DEA framework, are used as a measure of integration and the analysis is conducted by applying Tobit panel regression models. We find that national stock market development and institutional quality enhance cost performance and integration of EU life insurance markets. Results also show that in countries where bancassurance is the main life insurance distribution channel, banking sector development contributes to integration in terms of revenue efficiency. However, we find that better outcomes in national institutional quality decrease the meta-technology revenue efficiency ratio, suggesting that life insurance prices are lower in countries with better institutions.es_ES
dc.description.sponsorshipFunding for open access charge: Universidad de Málaga / CBUA. The authors gratefully acknowledge financial support from the Spanish Ministry of Science, Innovation and Universities (Project RTI2018-097620-B-100) and Universidad de Málaga Campus de Excelencia Internacional Andalucía Tech. This paper was awarded the 2020 ‘‘Antonio Dionis Soler’’ Research Prize (accésit) by Fundación de Estudios Financieros
dc.language.isoenges_ES
dc.publisherELSEVIERes_ES
dc.rightsinfo:eu-repo/semantics/openAccesses_ES
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subjectMercado financieroes_ES
dc.subject.otherIntegrationes_ES
dc.subject.otherFinancial market developmentes_ES
dc.subject.otherInstitutional qualityes_ES
dc.subject.otherEU life insurance marketses_ES
dc.titleCountry factor behavior for integration improvement of European life insurance marketses_ES
dc.typeinfo:eu-repo/semantics/articlees_ES
dc.centroFacultad de Ciencias Económicas y Empresarialeses_ES
dc.identifier.doihttps://doi.org/10.1016/j.eap.2021.08.004
dc.rights.ccAttribution-NonCommercial-NoDerivatives 4.0 Internacional*


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