Deals with the Mutual effects of Insurance and Economic Growth in Iran (Utilizing the Method Bayesian VAR)

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MOHAGHEGHZADEH FATEMEH; NAJAFIZADEH ABBAS; Shirinbakhsh Shamsollah; DAGHIGHIASLI ALIREZA

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Journal: IRANIAN JOURNAL OF APPLIED ECONOMICS Year:2018 | Volume:8 | Issue:25 Page(s): 17-32

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Title

Deals with the Mutual effects of Insurance and Economic Growth in Iran (Utilizing the Method Bayesian VAR)

Author(s)

MOHAGHEGHZADEH FATEMEH | NAJAFIZADEH ABBAS | Shirinbakhsh Shamsollah | DAGHIGHIASLI ALIREZA | Issue Writer Certificate

Keywords

insuranceQ2

economic growthQ2

insurance penetration indexQ1

Bayesian VARQ1

Abstract

The present paper deals with the mutual effects of insurance and economic growth in Iran under influence of shocks of the productivity of production factors and development index ICT using Bayesian VAR model for the years 1986-2016. Based on the results of the analysis of variance of the model, the forecast error over periods has increased relative to the first period. The percentage of variance caused by a sudden change or specific shock indicates that although 100% of changes in the economic growth rate in the first period, and 99. 51% of the changes in the second period have been caused by the variable itself, in the third period, 99. 19% of changes is related to the variable itself, 0. 0001% is related to human capital shock, 0. 086% is related to shock of the ICT development index, 0. 034% is related to the insurance penetration rate shock, 0. 56% is related to the physical capital, and 0. 123% is related to the degree of openness of the economy. Among the explanatory variables of the economic growth rate model: physical capital shock, degree of openness of the economy shock, shock of ICT development index, insurance penetration index shock, and human capital shock have respectively the highest percentage of explanation for the changes in economic growth rates during the period under review.

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APA: Copy

MOHAGHEGHZADEH, FATEMEH, NAJAFIZADEH, ABBAS, Shirinbakhsh, Shamsollah, & DAGHIGHIASLI, ALIREZA. (2018). Deals with the Mutual effects of Insurance and Economic Growth in Iran (Utilizing the Method Bayesian VAR). IRANIAN JOURNAL OF APPLIED ECONOMICS, 8(25 ), 17-32. SID. https://sid.ir/paper/202051/en

Vancouver: Copy

MOHAGHEGHZADEH FATEMEH, NAJAFIZADEH ABBAS, Shirinbakhsh Shamsollah, DAGHIGHIASLI ALIREZA. Deals with the Mutual effects of Insurance and Economic Growth in Iran (Utilizing the Method Bayesian VAR). IRANIAN JOURNAL OF APPLIED ECONOMICS[Internet]. 2018;8(25 ):17-32. Available from: https://sid.ir/paper/202051/en

IEEE: Copy

FATEMEH MOHAGHEGHZADEH, ABBAS NAJAFIZADEH, Shamsollah Shirinbakhsh, and ALIREZA DAGHIGHIASLI, “Deals with the Mutual effects of Insurance and Economic Growth in Iran (Utilizing the Method Bayesian VAR),” IRANIAN JOURNAL OF APPLIED ECONOMICS, vol. 8, no. 25 , pp. 17–32, 2018, [Online]. Available: https://sid.ir/paper/202051/en

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