INSURANCE CONSUMPTION AND ECONOMIC POLICY UNCERTAINTY IN INDIA: AN ANALYSIS OF ASYMMETRIC EFFECTS-Reference-Cited by-同舟云学术

INSURANCE CONSUMPTION AND ECONOMIC POLICY UNCERTAINTY IN INDIA: AN ANALYSIS OF ASYMMETRIC EFFECTS

Published:2021-07-26 Issue: Volume: Page:1-29
ISSN:0217-5908
Container-title:The Singapore Economic Review
language:en
Short-container-title:Singapore Econ. Rev.

Author:

KUMAR SIDDHARTH¹^ORCID,SAHU NARESH CHANDRA¹,KUMAR PUSHP¹

Affiliation:

1. Indian Institute of Technology Bhubaneswar, Jatni, Khordha, Odisha 752050, India

Abstract

This study examines the asymmetric effect of economic policy uncertainty (EPU) on life and non-life insurance consumption in India using monthly data from April 2004–October 2020. The paper has employed a nonlinear autoregressive distributed lag (NARDL) model with a structural break. The results reveal that there exists an asymmetric effect of EPU on life insurance as well as non-life life insurance consumption. A negative relationship is found between EPU and insurance consumption in both life and non-life insurance. Based on the findings, the study suggests the policymakers to consider the asymmetric effects of EPU while formulating insurance-related policies in India.

Funder

University Grants Commission

Publisher

World Scientific Pub Co Pte Lt

Subject

Economics and Econometrics

Link

https://www.worldscientific.com/doi/pdf/10.1142/S0217590821410095

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