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Economic Thought and Practice, Vol. 20 No. 1, 2011.

Preliminary communication

LIBERALISATION, MARKET CONCENTRATION AND PERFORMANCE IN THE NON-LIFE INSURANCE INDUSTRY OF EX-YUGOSLAVIA

Vladimir Njegomir orcid id orcid.org/0000-0003-0148-6906 ; Faculty for Legal and Business Studies; Novi Sad, Serbia
Dragan Stojić orcid id orcid.org/0000-0003-4067-570X ; Faculty of Economics, University of Novi Sad, Serbia
Dragan Marković ; DDOR Novi Sad, Serbia

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Abstract

The aim of this paper is to examine market structure, liberalisation and performance relationship for the non-life insurance industry in the ex-Yugoslavia region. We use the country-specific fixed effects models for panel data allowing each cross-sectional unit to have a different intercept term serving as an unobserved random variable that is potentially correlated with the observed regressors. Three models are presented, each placing market structure, liberalisation and profitability in distinct surroundings defined by related control variables. The research results indicate strong influence of market structure and liberalisation on market profitability.

Keywords

non-life insurance; market structure; profitability; ex-Yugoslavia region

Hrčak ID:

69698

URI

https://hrcak.srce.hr/69698

Publication date:

28.6.2011.

Article data in other languages: croatian

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