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Insurance Penetration and Manufacturing Sector Growth: A Time Series Evidence from Nigeria

This study examined insurance penetration and manufacturing sector growth in Nigeria. Time series data were sourced from Central Bank of Nigeria Statistical Bulletin from 1990-2023. Manufacturing sector growth was modeled as the function of insurance penetration insurance density and insurance premium. The study used unit root test, cointegation test and vector error correction model to examine the dynamic effect of insurance penetration on manufacturing sector growth. The ECM equation showed that Insurance Penetration has a negative and insignificant relationship with manufacturing sector gro…

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    from https://iiardjournals.org/get/IJEBM/VOL. 11 NO. 5 2025/Insurance Penetration and Manufacturing 60-71.pdf