JOURNAL ARTICLE

Insurance Development, Global Economic Policy Uncertainty and Geopolitical Risk: The Asymmetric Relationship Evidence from ASEAN-5.

  • Published In: Journal of Asian Economic Integration, 2024, v. 6, n. 2. P. 154 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Lim, Soyoung; Kyophilavong, Phouphet; Soukchalern, Phongsili 3 of 3

Abstract

This article investigates the asymmetric effects of the Global Economic Policy Uncertainty index (GEPU) and the Geopolitical Risk index (GPR) on insurance sector development in ASEAN countries from 1990 to 2020. Using linear and non-linear panel autoregressive distributed lag (ARDL and NARDL) models, the study finds that both GEPU and GPR significantly influence non-life insurance (NI) but not life insurance (LI). Specifically, positive and negative shocks in GEPU increase NI, while positive shocks in GPR also raise NI, with no significant impact of GPR shocks on LI. The findings suggest that ASEAN policymakers should consider these indices when formulating insurance policies.

Additional Information

  • Source:Journal of Asian Economic Integration. 2024/09, Vol. 6, Issue 2, p154
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2024
  • ISSN:2631-6846
  • DOI:10.1177/26316846241276302
  • Accession Number:179940963
  • Copyright Statement:Copyright of Journal of Asian Economic Integration is the property of Sage Publications Inc. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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