Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2022.2132348
European motor insurance demand: a spatial approach of its effects and key determinants
Simona Laura Dragos
Codruta Mare
Gabriela Mihaela Mureșan
Alexandra-Anca Purcel
Sažetak
The expansion of the European Union has intensified road traffic
from, at least, two perspectives: it increased free mobility of people
and goods, along with structural funds available for infrastructure
improvement. Consequently, connections between regions/countries
have improved, and a spatial diffusion effect is seen in the car
transportation behaviour. We study the effect of Human
Development Index (HDI) along with other important socio-economic,
demographic and institutional factors on the motor insurance
market in 31 European countries. Simultaneously, we evaluate if the
crucial spatial diffusion effect is present on the European motor
insurance market. Findings reveal that HDI, urbanization and car fleet
positively impact the motor insurance market, while unemployment
and population density exhibit an opposite effect. Overall, results are
robust to a set of additional control factors, but sensitive relative to
institutional factors and emerging and former communist countries
group. Estimations confirm the assumption of spatial diffusion, while
the assessment of the direct and indirect effects shows that most of
the factors internally impact the dependent variable, and an international
effect is at work for the HDI. Our findings may enhance the
understanding of the European motor insurance market and provide
some valuable insights from a policy perspective
Ključne riječi
Motor insurance density; spatial diffusion process; living standards; spatial panel regression
Hrčak ID:
306683
URI
Datum izdavanja:
30.4.2023.
Posjeta: 212 *