Document Type : Original Research Paper
Authors
Department of Economics, Faculty of Economics and Social Sciences, Bo Ali Sina University, Hamadan, Iran
Abstract
Today, administrative-financial corruption has become a global problem and governments are aware that corruption causes many damages. This problem distorts the principle of the rule of law, threatens democratic organizations, and ultimately disrupts the development of various sectors of the economy, especially the financial sector of life insurance. The main purpose of this study is to investigate the effect of administrative-financial corruption control on the financial development of the life insurance market in a selection of developing countries, including Iran, during the years 1999-2011. For this purpose, first, the corruption control index was used to measure the level of corruption in the group of selected countries, and then the research model was estimated using the panel data method. The results of this study show that the variables of corruption control, banking sector development, risk aversion, and life expectancy have a positive and significant effect, and the inflation variable has a negative and significant effect on the financial development of the life insurance market.
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