The role of the insurance sector and financial services in increasing economic growth rates as an alternative to the hydrocarbon sector in Algeria during 2000-2018

Abstract EN

The importance of the study is that the economic position of Insurance is through the role it plays, as it works to provide insurance coverage for individuals and institutions from the results of the various risks they face.

Thus it contributes to providing enterprise stability, which returns to society with economic and social benefits.

We used a model of regression Multiple to identify significant Impact of Insurance and financial services on Growth economic in the period 1990-2017.

The results of this study concluded that 88.

67% of the study variables explain the GDP in the Algerian economy, that is, Economic Growth.

As there was a positive and significant effect of Broad money (BM) and Market capitalization (MC) on the GDP, and a positive but not significant effect of Insurance and Financial Services (IFSEXP) on the GDP.

Neglecting some variables may have affected the results of the study; if other variables take, it would have given better results.

Also, decision-makers in Algeria can benefit from these results, and embody them on the ground.

The study period and the method of estimating the Model for the case of Algeria considered as a gap that can add new to the subject of Insurance in Algeria.