LEADER 04771oam 22012014 450 001 9910975148503321 005 20250426110939.0 010 $a9786613822871 010 $a9781462381081 010 $a1462381081 010 $a9781452729961 010 $a1452729964 010 $a9781282636699 010 $a1282636693 010 $a9781451988086 010 $a1451988087 035 $a(CKB)3360000000443320 035 $a(EBL)3014315 035 $a(SSID)ssj0000941492 035 $a(PQKBManifestationID)11473298 035 $a(PQKBTitleCode)TC0000941492 035 $a(PQKBWorkID)10963806 035 $a(OCoLC)698585492 035 $a(IMF)WPIEE2006179 035 $a(MiAaPQ)EBC3014315 035 $a(IMF)WPIEA2006179 035 $aWPIEA2006179 035 $a(EXLCZ)993360000000443320 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 $aAt head of title: Office of Executive Directors. 311 08$a9781451864397 311 08$a1451864396 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 $aActuarial Studies$2imf 606 $aArtificial intelligence$2imf 606 $aDiffusion Processes$2imf 606 $aFinance$2imf 606 $aFinancial Instruments$2imf 606 $aFormal and Informal Sectors$2imf 606 $aIncome$2imf 606 $aIndustries: Financial Services$2imf 606 $aInstitutional Arrangements$2imf 606 $aInstitutional Investors$2imf 606 $aInsurance & actuarial studies$2imf 606 $aInsurance Companies$2imf 606 $aInsurance companies$2imf 606 $aInsurance$2imf 606 $aIntelligence (AI) & Semantics$2imf 606 $aMacroeconomics$2imf 606 $aNon-bank Financial Institutions$2imf 606 $aPension Funds$2imf 606 $aPersonal income$2imf 606 $aPersonal Income, Wealth, and Their Distributions$2imf 606 $aShadow Economy$2imf 606 $aTechnological Change: Choices and Consequences$2imf 615 0$aRisk (Insurance) 615 0$aRisk management$xEconometric models. 615 7$aActuarial Studies 615 7$aArtificial intelligence 615 7$aDiffusion Processes 615 7$aFinance 615 7$aFinancial Instruments 615 7$aFormal and Informal Sectors 615 7$aIncome 615 7$aIndustries: Financial Services 615 7$aInstitutional Arrangements 615 7$aInstitutional Investors 615 7$aInsurance & actuarial studies 615 7$aInsurance Companies 615 7$aInsurance companies 615 7$aInsurance 615 7$aIntelligence (AI) & Semantics 615 7$aMacroeconomics 615 7$aNon-bank Financial Institutions 615 7$aPension Funds 615 7$aPersonal income 615 7$aPersonal Income, Wealth, and Their Distributions 615 7$aShadow Economy 615 7$aTechnological Change: Choices and Consequences 700 $aErbas$b S$01816628 701 $aSayers$b Chera$01816629 712 02$aInternational Monetary Fund.$bOffice of Executive Directors. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910975148503321 996 $aInstitutional Quality, Knightian Uncertainty, and Insurability$94372877 997 $aUNINA