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010   $a9786613822871
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035   $a(EBL)3014315
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035   $a(PQKBManifestationID)11473298
035   $a(PQKBTitleCode)TC0000941492
035   $a(PQKBWorkID)10963806
035   $a(OCoLC)698585492
035   $a(IMF)WPIEE2006179
035   $a(MiAaPQ)EBC3014315
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100   $a20020129d2006      uf         0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aInstitutional Quality, Knightian Uncertainty, and Insurability : $eA Cross-Country Analysis /$fS. Erbas, Chera Sayers
205   $a1st ed.
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (15 p.)
225 1 $aIMF Working Papers
300   $a"July 2006."
300   $aAt head of title: Office of Executive Directors.
311   $a1-4518-6439-6 
320   $aIncludes bibliographical references (p. 12-13).
327   $a""Contents""; ""I. INTRODUCTION""; ""II. INSTITUTIONAL QUALITY AND KNIGHTISAN UNCERTAINTY: AN INTERPRETATION""; ""III. METHODOLOGY""; ""IV. REGRESSION RESULTS""; ""V. CONCLUSIONS""; ""REFERENCES""
330 3 $aKnightian uncertainty (ambiguity) implies presence of uninsurable risks. Institutional quality may be a good indicator of Knightian uncertainty. This paper correlates non-life insurance penetration in 70 countries with income level, financial sector depth, country risk, a measure of cost of insurance, and the World Bank governance indexes. We find that institutional quality-transparency-uncertainty nexus is the dominant determinant of insurability across countries, surpassing the explanatory power of income level. Institutional quality, as it reflects on the level of uncertainty, is the deeper determinant of insurability. Insurability is lower when governance is weaker.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/179
606   $aRisk (Insurance)
606   $aRisk management$xEconometric models
606   $aInsurance$2imf
606   $aMacroeconomics$2imf
606   $aIndustries: Financial Services$2imf
606   $aIntelligence (AI) & Semantics$2imf
606   $aInsurance Companies$2imf
606   $aActuarial Studies$2imf
606   $aFormal and Informal Sectors$2imf
606   $aShadow Economy$2imf
606   $aInstitutional Arrangements$2imf
606   $aPersonal Income, Wealth, and Their Distributions$2imf
606   $aPension Funds$2imf
606   $aNon-bank Financial Institutions$2imf
606   $aFinancial Instruments$2imf
606   $aInstitutional Investors$2imf
606   $aTechnological Change: Choices and Consequences$2imf
606   $aDiffusion Processes$2imf
606   $aInsurance & actuarial studies$2imf
606   $aFinance$2imf
606   $aArtificial intelligence$2imf
606   $aPersonal income$2imf
606   $aInsurance companies$2imf
606   $aIncome$2imf
615  0$aRisk (Insurance)
615  0$aRisk management$xEconometric models.
615  7$aInsurance
615  7$aMacroeconomics
615  7$aIndustries: Financial Services
615  7$aIntelligence (AI) & Semantics
615  7$aInsurance Companies
615  7$aActuarial Studies
615  7$aFormal and Informal Sectors
615  7$aShadow Economy
615  7$aInstitutional Arrangements
615  7$aPersonal Income, Wealth, and Their Distributions
615  7$aPension Funds
615  7$aNon-bank Financial Institutions
615  7$aFinancial Instruments
615  7$aInstitutional Investors
615  7$aTechnological Change: Choices and Consequences
615  7$aDiffusion Processes
615  7$aInsurance & actuarial studies
615  7$aFinance
615  7$aArtificial intelligence
615  7$aPersonal income
615  7$aInsurance companies
615  7$aIncome
700   $aErbas$b S$01649675
701   $aSayers$b Chera$01649676
712 02$aInternational Monetary Fund.$bOffice of Executive Directors.
801  0$bDcWaIMF
906   $aBOOK
912   $a9910822787003321
996   $aInstitutional Quality, Knightian Uncertainty, and Insurability$93998554
997   $aUNINA