This paper provides new evidence of factors, other than GDP per capita, that correlate with the development of insurance markets. Based on 20 years of insurance premium data from 180 countries, and a similar wealth of data on institutions and financial market development, the paper presents...

This study tests the weak form of the efficient capital markets theorem in five transition economies in Southeast Europe between 2005 and 2016. A panel pooled mean group estimator is used to examine the relationship between macroeconomic indicators and the performance of stock market indexes....