Identification of Demand Factors for Life Insurance and Savings Deposits Using Nonlinear ARDL Framework: Korea and Japan
In recent years, the global economy has been faced with high volatility since the 2008 global financial crisis. For this reason, it is difficult to predict the prospects of each specific industry especially in the area of financial sector. In particular, global insurance industry responds sensitively to the highly volatile global economy coupled with low economic growth and low inflation rates, and near-zero interest rates.
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