An Empirical Study on the International Competitiveness of Insurance Industry in the OECD Countries

OECD회원국(會員國) 보험산업(保險産業) 국제경쟁력(國際競爭力) 결정요인(決定要因)에 관한 실증연구(實證硏究)

The purpose of this paper is to measure the international competitiveness of insurance business and to analyze its determinants empirically. I have attempted to use Revealed Comparative Advantage(RCA) index to measure domestic competitiveness. confining to OECD countries only. Among domestic competitiveness advantage countries in the insurance, there are Austria, Denmark, France. Japan, Korea... etc. The factors of domestic competitiveness determinants were found out through multivariate regression analysis with panel data$(1990{\sim}1995)$. In insurance industry, statistically significant variables are employee's per capita premium of insurance company (Pro), stock market capitalization/GDP(MVESR), saving rate (SAV) and real interest(RMMR), while they are Pro, MVESR, and real interest in Korea insurance industry.