Heliyon, Journal Year: 2024, Volume and Issue: 10(21), P. e40046 - e40046

Published: Nov. 1, 2024

Despite insurance contributions to economic growth, the intervening role of structural transformation on insurance-growth nexus remains scarce, leaving a gap in literature. Motivated by 2030 Sustainable Development Agenda, which envisages higher transformation, financial development and progress, this study examines threshold effects joint impact growth Africa. The employed generalised method moments dynamic panel estimations 38 countries covering 2008 2020. following findings emerge: First, promote growth. Second, results indicate that enhances This suggests matters driving market development, ultimately promoting Third, empirical evidence further reveals nonlinearities relationship presents high level penetration stimulates vice versa. More so, synergistic effect is more substantial at levels. implies though spurs its effective through strong transformation. Therefore, calls for government intervention policies improve transformations form synergies

Language: Английский