Does Economic Freedom Stimulate Non-Life Insurance Industry in ASEAN-5 and China?
Non-life insurance is able to provide risk mitigation strategies in the projects involved in the One Belt One Road plans.This study examines the factors that impact the insurance development in China and ASEAN-5 namely Indonesia, Malaysia, Philippines, Singapore and Thailand from 1995 to 2014 due to the fact that ASEAN had created a centre of attention world widely.The focus of the present paper will highlight the roles of economic freedom in influencing insurance development.The results suggest that trade, gross domestic product and credits supply by financial institutions are the positive significant factors, stocks traded is the negative significant factor that impact the insurance development.In addition, the overall economic freedom and the government spending freedom in these countries are negatively and significantly influencing the insurance development.The findings suggest that regulatory interventions are more practical for these countries to enhance the resilience and development of the non-life insurance sector.Thus, the managers in the non-life insurance companies should comply with the rules and regulations imposed by the regulatory bodies to ensure that they could undertake the external challenges and improve the sustainability growth at the same time accomplishing One Belt One Road objectives as a whole.
Insurance One Belt One Road Economic Freedom ASEAN,China
LEE Hui Shan CHONG Shyue Chuan SIA Bik Kai CHEONG Wah Wan
Universiti Tunku Abdul Rahman, Faculty of Accountancy and Management, Bandar Sungai Long, 43000 Kaja Universiti Tunku Abdul Rahman, Faculty of Accountancy and Management, Bandar Sungai Long, 43000 Kaja
国际会议
日本
英文
88-94
2017-07-01（万方平台首次上网日期，不代表论文的发表时间）