Live Covid-19
United States 70,544,862
Cases: 70,544,862
Deaths: 883,903
Recovered: 44,047,799
Active: 25,613,160
India 38,563,632
Cases: 38,563,632
Deaths: 488,422
Recovered: 36,047,823
Active: 2,027,387
Brazil 23,588,921
Cases: 23,588,921
Deaths: 622,251
Recovered: 21,851,922
Active: 1,114,748
United Kingdom 15,613,283
Cases: 15,613,283
Deaths: 153,202
Recovered: 11,850,874
Active: 3,609,207
France 15,600,647
Cases: 15,600,647
Deaths: 128,114
Recovered: 9,844,686
Active: 5,627,847
Russia 10,938,261
Cases: 10,938,261
Deaths: 324,060
Recovered: 9,950,333
Active: 663,868
Turkey 10,736,215
Cases: 10,736,215
Deaths: 85,419
Recovered: 9,985,596
Active: 665,200
Italy 9,408,188
Cases: 9,408,188
Deaths: 142,590
Recovered: 6,593,625
Active: 2,671,973
Spain 8,834,363
Cases: 8,834,363
Deaths: 91,599
Recovered: 5,417,226
Active: 3,325,538
Germany 8,397,328
Cases: 8,397,328
Deaths: 117,044
Recovered: 7,139,800
Active: 1,140,484
Argentina 7,576,335
Cases: 7,576,335
Deaths: 118,809
Recovered: 6,494,224
Active: 963,302
Iran 6,236,567
Cases: 6,236,567
Deaths: 132,152
Recovered: 6,073,412
Active: 31,003
Colombia 5,655,026
Cases: 5,655,026
Deaths: 131,627
Recovered: 5,353,276
Active: 170,123
Mexico 4,545,683
Cases: 4,545,683
Deaths: 302,390
Recovered: 3,583,463
Active: 659,830
Poland 4,406,553
Cases: 4,406,553
Deaths: 103,378
Recovered: 3,813,718
Active: 489,457
Indonesia 4,277,644
Cases: 4,277,644
Deaths: 144,199
Recovered: 4,121,117
Active: 12,328
Ukraine 3,799,382
Cases: 3,799,382
Deaths: 98,843
Recovered: 3,571,782
Active: 128,757
Netherlands 3,720,816
Cases: 3,720,816
Deaths: 21,188
Recovered: 2,980,273
Active: 719,355
South Africa 3,572,860
Cases: 3,572,860
Deaths: 93,846
Recovered: 3,394,527
Active: 84,487
Philippines 3,324,478
Cases: 3,324,478
Deaths: 53,153
Recovered: 2,995,961
Active: 275,364
Canada 2,868,822
Cases: 2,868,822
Deaths: 32,220
Recovered: 2,538,075
Active: 298,527
Malaysia 2,820,927
Cases: 2,820,927
Deaths: 31,853
Recovered: 2,747,457
Active: 41,617
Peru 2,723,166
Cases: 2,723,166
Deaths: 203,750
Recovered:
Active: 2,519,416
Czechia 2,678,767
Cases: 2,678,767
Deaths: 36,972
Recovered: 2,447,642
Active: 194,153
Belgium 2,575,313
Cases: 2,575,313
Deaths: 28,726
Recovered: 1,988,428
Active: 558,159
Thailand 2,361,702
Cases: 2,361,702
Deaths: 22,003
Recovered: 2,256,982
Active: 82,717
Iraq 2,137,267
Cases: 2,137,267
Deaths: 24,272
Recovered: 2,072,723
Active: 40,272
Israel 2,103,945
Cases: 2,103,945
Deaths: 8,370
Recovered: 1,683,115
Active: 412,460
Vietnam 2,094,802
Cases: 2,094,802
Deaths: 36,266
Recovered: 1,794,924
Active: 263,612
Australia 2,086,522
Cases: 2,086,522
Deaths: 2,976
Recovered: 903,993
Active: 1,179,553

Insurance Investment and Real Sector of the Economy in Nigeria, 1996-2020. Co-Integration and Error Correction Model Approach

Insurance Investment and Real Sector of the Economy in Nigeria, 1996-2020. Co-Integration and Error Correction Model Approach

ABSTRACT

This study examined the insurance investment and real sector of the economy in Nigeria from 1996 – 2020. The major objective of the study is to examine the cointegration and error correction of insurance investment on the government securities, insurance investment on the stocks and bonds, insurance investment on the bill of exchange and insurance investment real estate and mortgage on real sector of the economy represented by real gross domestic product in Nigeria. The study employed auto regressive distributed lag model using data extracted from CBN statistical bulletin over the period of 1996-2020 via cointegration and error correction estimates. Result reveals that insurance investments on government securities, Insurance Investments on stocks and bond, insurance investment in real estate and mortgage and  insurance investments on bill of exchange all had positive and significant impact on have positive and non-significant impact on real sector of the economy in Nigeria; Also, there existed cointegration relationship among the variables of interest which lead to error correction model It was clear that the error emanating from departure in  equilibrium can be corrected over time The result specifically lead to conclusion that a there are rational relationship between the insurance investment and real sector of the economy both in the short run and long run which will bring increase in growth of financial institution and boost the economic development of Nigeria. The study recommended that investor should improve their investment on insurance bonds, stock, security and policy loan, it was further recommended that there should be a means of educating the masses and organization on insurance as an investing financial institution not just for life and property protection. The above recommendation will result to more insurance deepening and economic development in Nigeria as an implication.

Keywords: Insurance Investment; Real Sector of the Economy; Nigeria

Authorship
1EZEMA, Clifford Anene PhD, 2JIMOH, Taiwo Muideen and 3ECHE, Ann Uzoamaka

Download Full PDF

 

Categories: