Does the strength of the legal systems matter for trade in insurance and financial services?

Azmat Gani, Michael D. Clemes

Research output: Contribution to journalArticle

6 Citations (Scopus)

Abstract

This paper investigates if the strength of the legal system impacts on the trade in insurance and financial services in the high-income OECD and developing countries. Our findings reveal a statistically significant positive correlation of rule of law and regulatory quality with the exports and imports of insurance and financial services. Our empirical findings also reveal a negative and statistically significant correlation of contract enforcement with the exports and imports of insurance and financial services. We conclude that strengthening the rule of law and contract enforcement mechanisms can facilitate higher levels of trade in insurance and financial services.

Original languageEnglish
Pages (from-to)511-519
Number of pages9
JournalResearch in International Business and Finance
Volume36
DOIs
Publication statusPublished - Jan 1 2016

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Keywords

  • Contract enforcement
  • Finance
  • Insurance
  • Regulations
  • Rule of law
  • Services
  • Trade

ASJC Scopus subject areas

  • Business, Management and Accounting (miscellaneous)
  • Finance

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