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Human Capital Versus Income Variations: Are They Linked in OECD Countries?

100%
Bartak J., Jabłoński Ł.
Journal of Management and Business Administration. Central Europe
|
2016
|
issue 2
56-73
EN
Purpose: The theory of endogenous growth suggests a number of relations between income inequality and human capital. However, empirical evidence in this field is scarce. Therefore, in this paper we aim to demonstrate the existence of interdependencies between income inequality and human capital across OECD countries.Methodology: We present findings of the endogenous growth theory on the mechanisms linking inequality with human capital. Subsequently, we attempt to verify these links empirically using the regression function estimated by means of the generalized method of moments (GMM). The empirical analysis is based on panel data from 1995–2010.Findings: The results of the study reveal the existence of a negative relationship between income inequality and health indicators (infant mortality and maternal mortality). However, we did not reach an authoritative conclusion about the relationship between income inequality and quantitative indicators of educational achievement.Research limitations: Research is limited to the sample of OECD countries. Interdependencies between income inequality and human capital could be captured more clearly using a broader sample.Originality: This paper presents one of few studies testing the relation between human capital and income inequality. The use of high-quality empirical data on inequality (SWIID data) and the generalized method of moments made it possible to contribute new arguments to the discussion of empirical analyses of these economic categories.
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Ekonomiczne determinanty popytu na ubezpieczenia na życie – ujęcie regionalne

63%
Laskowska I.
Wiadomości Statystyczne. The Polish Statistician
|
2024
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vol. 69
|
issue 9
44-60
EN
Insurance has various functions in the economic and social spheres. Life insurance is a specific type of insurance, offered in the form of individual or group insurance. Research on insurance market at regional level is undertaken relatively rarely. The aim of the study presented in this paper is to identify economic factors determining the level of demand for individual and group life insurance on regional insurance markets. Dynamic econometric models for panel data (GMM estimator) with demand expressed in gross written premium per capita (life insurance density) have been used in the analysis. The research was carried out on the basis of data at voivodship level for the period of 2017–2021 from Statistics Poland and the Polish Financial Supervision Authority. The regression analysis demonstrated that an improving economic situation of the region and households’ growing disposable income positively affected demand for life insurance, while a poor situation on the labor market (indicated by the unemployment rate) had a reverse effect. Individual insurance demand responded stronger to changes in disposable income and the unemployment rate, whereas group insurance demand was more sensitive to changes in the region's economic situation. The level of insurance consumption observed in a given period is determined by that observed in the previous period, which indicates the phenomena occurring on this market are of a relatively stable character.
PL
Ubezpieczenia pełnią różne funkcje w sferze gospodarczej i społecznej. Ich szczególnym rodzajem są ubezpieczenia na życie, a ochrona ubezpieczeniowa w ich ramach jest oferowana w formie ubezpieczeń indywidualnych oraz ubezpieczeń grupowych. Badania rynku ubezpieczeń na poziomie regionalnym podejmowane są relatywnie rzadko. Celem badania omawianego w artykule jest identyfikacja czynników ekonomicznych determinujących popyt na ubezpieczenia na życie (indywidualne i grupowe) na regionalnych rynkach ubezpieczeń w Polsce. W analizie zastosowano dynamiczne modele ekonometryczne dla danych panelowych (estymator GMM), w których popyt został wyrażony składką przypisaną brutto per capita (gęstość ubezpieczeń na życie). Podstawę badań stanowiły dane Głównego Urzędu Statystycznego i Komisji Nadzoru Finansowego na poziomie województw za okres 2017–2021. Z analizy regresji wynika, że pobudzeniu popytu na ubezpieczenia na życie sprzyjają poprawa sytuacji gospodarczej regionu i wzrost dochodu rozporządzalnego gospodarstw domowych. Zainteresowanie polisami na życie obniża zła kondycja rynku pracy, wyrażona stopą bezrobocia. Popyt na ubezpieczenia indywidualne silniej reaguje na zmiany dochodu rozporządzalnego i stopy bezrobocia, a popyt na ubezpieczenia grupowe – na zmiany sytuacji gospodarczej regionu. Konsumpcja ubezpieczeń obserwowana w danym okresie jest determinowana jej poziomem w okresie wcześniejszym, co wskazuje na trwałość zjawisk zachodzących na rynku ubezpieczeń.
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