THE RELATIONSHIP BETWEEN INSURANCE AND ECONOMIC GROWTH IN GERMANY, NETHERLANDS AND SPAIN

This study is focused on a highly relevant subject in the economic literature, more precisely how the insurance sector impacts the overall economic growth. The objective of the study is to identify, analyze and evaluate the effects of the insurance sector on economic growth for three countries: Germany, Netherlands and Spain,w ith data collected for the period 1984 - 2016. The results of the study proved to be important as they indicate the variation in the effects of insurance instruments due to the pecularity of each economy and the way in which each economy responds to a positive impact from the insurance sector.