A MAP OF THE EUROPEAN INSURANCE SECTOR ARE THERE ANY BORDERS?

作者：Jagric Timotej; Bojnec Stefan; Jagric Vita^*

来源：Economic Computation and Economic Cybernetics Studies and Research, 2018, 52(2): 283-298.

DOI：10.24818/18423264/52.2.18.17

• insurance industry
• convergence
• divergence
• neural networks
• Single Market
• big data analysis

Our paper studies the challenge of the EU single insurance market. We analyse a sample of 23 European countries' insurance industries (EU and non-EU members) for the 2003-20.12 period. With a dynamic analysis we try to discover whether the EU's insurance industry is homogeneous and converging via the EU integration process, but diverging from non-EU markets. Our findings support the rejection of the set hypothesis, when analysing the high dimensional insurance industry data with a method from the neural networks family. While four groups of European countries are identified, none of the clusters can be considered as part of EU mainstream. In addition to the EU integration process, there may be some other factors that influence the economic performance and fragmentation of the European insurance industry and the country's relative position within the European insurance market on dynamic topographic maps. The EU policy makers ought to further strengthen the integration process in the insurance market.

• 出版日期2018
• 单位中国人民银行金融研究所