Testing for Convergence in the European Insurance Sector: A Non-Linear Factor Approach
Abstract
This paper investigates the factors behind long-term convergence in the insurance sector by questioning the role of harmonization and regulation across the EMU. By investigating convergence through balance-sheet items, the study sheds light on the role played by the management preferences of insurances across the EMU. Overall, the convergence tests employed within this study provide evidence of limited convergence within the insurance sector across the EMU countries.
Submission of an article implies that the work described has not been published previously (except in the form of an abstract or as part of a published lecture or academic thesis), that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, in English or in any other language, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication.
Copyrights for articles published in MTI journals are retained by the authors, with first publication rights granted to the journal. The journal/publisher is not responsible for subsequent uses of the work. It is the author's responsibility to bring an infringement action if so desired by the author.
