Foreign Participation in Life Insurance Markets: Evidence from OECD Countries

Beck, T. and Webb, I. (2003) ‘Economic, demographic, and institutional determinants of life insurance consumption across countries’, World Economic Review 17: 51–88.

Browne, M.J. and Kim, K. (1993) ‘An international analysis of life insurance demand’, Journal of Risk and Insurance 60: 616–634.

Browne, M.J., Chung, J. and Frees, E.W. (2000) ‘International property – Liability insurance consumption’, Journal of Risk and Insurance 67: 73–90.

Campbell, R.A. (1980) ‘The demand for life insurance: An application of the economics of uncertainty’, Journal of Finance 35: 1155–1172.

Cargill, T.F. and Troxel, T.E. (1979) ‘Modeling life insurance savings: Some methodological issues’, Journal of Risk and Insurance 46: 391–410.

Cole, R., Lee, R. and McCullough, K. (2007) ‘A test of the eclectic paradigm: Evidence from the US reinsurance market’, Journal of Risk and Insurance 74: 493–522.

Country Forecasts (2001), The Economist Intelligence Unit, www.eiv.com (accessed 19 May 2001).

Fortune, P. (1973) ‘A theory of optimal life insurance: Development and tests’, Journal of Finance 27: 587–600.

IMD. World Competitiveness Yearbook (1994–2002), Lausanne, Switzerland: International Institute for Management Development, various issues.

Kaufmann, D., Kraay, A. and Mastruzzi, M. (2003) Governance matters III: Governance indicators for 1996–2002, World Bank Policy Research Working Paper 3106, World Bank.

La Porta, R., Lopez-de-Silanes, F., Shleifer, A. and Vishny, R. (1998) ‘Law and finance’, Journal of Political Economy 106: 1115–1155.

Lewis, F.D. (1989) ‘Dependents and the demand for life insurance’, American Economic Review 79: 452–467.

Li, D. and Moshirian, F. (2004) ‘International investment in insurance services in the US’, Journal of Multinational Financial Management 14: 249–260.

Li, D., Moshirian, F. and Sim, A.B. (2003) ‘The determinants of intra-industry trade in insurance services’, Journal of Risk and Insurance 70: 269–287.

Li, D., Moshirian, F., Pham, P. and Zein, J. (2006) ‘When financial institutions are large shareholders – The role of macro corporate governance environments’, Journal of Finance 61: 2975–3007.

Li, D., Moshirian, F., Nguyen, P. and Wee, T. (2007) ‘The demand for life insurance in OECD countries’, Journal of Risk and Insurance 74: 637–652.

Ma, Y.L. and Pope, N. (2003) ‘Determinants of international insurers' participation in foreign non-life markets’, Journal of Risk and Insurance 70: 235–248.

Moshirian, F. (1997) ‘Foreign direct investment in insurance services in the United States’, Journal of Multinational Financial Management 7: 159–173.

Moshirian, F. (1999) ‘Sources of growth in international insurance services’, Journal of Multinational Financial Management 9: 177–194.

OECD (1999) Liberalisation of International Insurance Operations. Cross-Border Trade and Establishment of Foreign Branches, Organization for Economic Cooperation and Development, Paris, France.

OECD (2001) Public Expenditure, Vol 2001, release 01, Organization for Economic Cooperation and Development, www.sourceoecd.com , Paris, France.

OECD (2002a) Insurance Statistical Yearbook, Vol 2002, release 01, Organization for Economic Cooperation and Development, www.sourceoecd.com .

OECD (2002b) Annual National Accounts – Volume I – Main aggregates, Vol 2002, release 04, Organization for Economic Cooperation and Development, www.sourceoecd.com , Paris, France.

OECD (2003) Economic Outlook: Annual and Semi-annual data, Vol 2003, release 01, Organization for Economic Cooperation and Development, www.sourceoecd.com , Paris, France.

Outreville, J.F. (1990) ‘The economic significance of insurance markets in developing countries’, Journal of Risk and Insurance 57: 487–498.

Outreville, J.F. (1996) ‘Life insurance markets in developing countries’, Journal of Risk and Insurance 63: 263–278.

Outreville, J.F. (2007) ‘Foreign affiliates of the world largest financial groups: Locations and governance’, Research in International Business and Finance 21: 19–31.

Outreville, J.F. (2008) ‘Foreign affiliates of the largest insurance groups: Location-specific advantages’, Journal of Risk and Insurance 75: 463–491.

Sapir, A. and Lutz, E. (1981) Trade in services: Economic determinants and development-related issues, World Bank Staff Working Paper no. 410, World Bank.

Skipper, H.D. (1987) ‘Protectionism in the provision of international insurance services’, Journal of Risk and Insurance 54: 55–85.

Skipper, H.D. and Klein, R.W. (2000) ‘Insurance regulation in the public interest: The path towards solvent, competitive markets’, The Geneva Papers on Risk and Insurance – Issues and Practice 25 (4): 482–504.

Sun, Q. (2003) ‘The impact of WTO accession on China's insurance industry’, Risk Management and Insurance Review 6: 27–35.

Swiss Reinsurance Company (2002) Sigma, (various editions) Zurich: Swiss Re Co.

Truett, D.B. and Truett, L.J. (1990) ‘The demand for life insurance in Mexico and the United States: A comparative study’, Journal of Risk and Insurance 57: 321–328.

UNESCO. UNESCO Statistical Yearbook (1994–2001) United Nations Educational, Scientific, and Cultural Organization, Paris, France.

Ward, D. and Zurbruegg, R. (2002) ‘Law, politics and life insurance consumption in Asia’, The Geneva Papers on Risk and Insurance – Issues and Practice 27 (3): 395–412.