Series: IMF Working Papers
Author(s): S. Erbas , and Chera Sayers
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 July 2006
Keywords: Institutional Quality, Knightian Uncertainty, Insurability, non-life insurance, life insurance, insurance markets, insurance coverage, Comparative Studies of Countries, Information And Uncertainty,
Knightian uncertainty (ambiguity) implies presence of uninsurable risks. Institutional quality may be a good indicator of Knightian uncertainty. This paper correlates non-life insurance penetration in 70 countries...