- Volume 12 Issue 2
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A Comparative Study on Economic Effect of life insurance and indemnity insurance Industry
생명보험산업과 손해보험산업의 경제적 파급효과 비교 분석
- Jung, Kun-Oh (Department of Economics, Hoseo University) ;
- Lim, Eung-Soon (Economic Research Institute, Hoseo University)
- Received : 2010.12.01
- Accepted : 2011.02.10
- Published : 2011.02.28
The interest in personal health is now growing around the world. Accordingly, the insurance industry which is closely related to personal health is becoming more important. Insurance industry can be divided into to main stream, life insurance and indemnity insurance. This study attempts to compare the economic impacts of the life insurance industry and indemnity insurance industry using an inter-industry analysis. The study investigates production-inducing effect, value added inducing effect, employ-inducing effect, sectoral price effect using Exogenous specification. The results show that indemnity insurance industry induces production-inducing effect of 2.7 won, value-added-inducing effects of 1.6 won, employ-inducing effect of 26.9 person, sectoral price effects is 2.0%. On the other hand, life insurance industry induces production-inducing effect of 1.6 won, value-added-inducing effects of 1.0 won, employ-inducing effect of 16.5 person, sectoral price effects is 1.2%. Overall, indemnity inducements has higher economic impacts than life insurance.
Life insurance;Indemnity insurance;Inter-industry analysis
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