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THE INSURANCE-GROWTH NEXUS IN PORTUGAL: A MULTIVARIATE TODA-YAMAMOTO GRANGER CAUSALITY TEST

Aluno: Alejandro LÓpez Atienza


Resumo
This dissertation provides new insights on the insurance-growth nexus in Portugal, using a multivariate time series analysis over the period 1983-2020. The analysis performed is based around the Granger causality concept, using the Toda and Yamamoto methodology as a consequence of the statistical properties of our time series. The results suggest that there is no causality relation in the Granger sense between economic growth and insurance development in Portugal.


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