The relationship between insurance sector and economic growth in Morocco : an ARDL approach

الملخص EN

This paper investigates the effect and causality between insurance sector and economic growth in Morocco using ARDL models and time series data for the period 1980-2017.

In the long run, there is cointegration between variables in each model and a significant positive effect of Total insurance premiums and life insurance premiums on real GDP.

In the short run, there is a positive and significant effect of non-life insurance premiums on economic growth versus a negative effect of life insurance premiums.

Granger causality test supports the supply-leading hypothesis by showing a unidirectional causal relationship running from insurance towards economic growth.