Rudra P. Pradhan, Sahar Bahmani, Rebecca Abraham, John H. Hall
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Abstract
The main focus of this investigation is potential Granger causal relationships between the insurance market, Information and Communications Technology (ICT) infrastructure, and economic growth in a sample of high- and middle-income countries (H&MICs) from 1980 to 2019. We deployed a panel vector autoregressive model, and found that in the long run, the insurance market and ICT infrastructure Granger-cause economic growth. In the short run, we found robust causal links, but they vary in nature. The findings suggest that H&MICs should base ICT infrastructure planning on strategies that endorse economic growth and policies that may also promote insurance market development.
期刊介绍：
The current remarkable growth in the Asia-Pacific financial markets is certain to continue. These markets are expected to play a further important role in the world capital markets for investment and risk management. In accordance with this development, Asia-Pacific Financial Markets (formerly Financial Engineering and the Japanese Markets), the official journal of the Japanese Association of Financial Econometrics and Engineering (JAFEE), is expected to provide an international forum for researchers and practitioners in academia, industry, and government, who engage in empirical and/or theoretical research into the financial markets. We invite submission of quality papers on all aspects of finance and financial engineering.
Here we interpret the term ''financial engineering'' broadly enough to cover such topics as financial time series, portfolio analysis, global asset allocation, trading strategy for investment, optimization methods, macro monetary economic analysis and pricing models for various financial assets including derivatives We stress that purely theoretical papers, as well as empirical studies that use Asia-Pacific market data, are welcome.
Officially cited as: Asia-Pac Financ Markets
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