The relationship between insurance and economic growth in Europe: a theoretical and empirical analysis

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Financial development, institutional investors, and economic growth (2017, methodology): “Haiss and Sümegi (2008) provide cross-country positive evidence for the effect of insurance on the economic growth of 29 countries, using a modified Cobb-Douglas production function.”
What Drives the Development of the Insurance Sector? An Empirical Analysis Based on a Panel of Developed and Developing Countries (2011, neutral): “Haiss and Sumegi (2008) build a panel of 29 EU countries from 1992 to 2005 and conclude that the life sector had a positive impact on growth in the EU-15 countries, while the non-life sector had a larger impact in Central and Eastern Europe.”
The link between life insurance activities and economic growth: Some new evidence (2013, background): “This conforms to the theory in the literature which indicates that life insurance contributes to economic growth by improving the sound functions of financial systems, as noted in Ward and Zurbruegg (2000), Haiss and Sümegi (2008), Han et al. (2010), and Lee (forthcoming). The empirical evidence bas”