Insurance expenditures and economic growth relationship, an econometric application on Turkey

Economic growth has emerged as the most important macro variable in countries' economies throughout history. Today, the concept of economic growth has become more important with the influence of globalization. Insurance is a risk transfer system established to compensate for unforeseen damages when it comes to insurance. For economies of developed countries in the globalizing world, insurance is emerging as an important sector. The insurance sector has an important share in the economies of developed countries in the world. However, the share of the insurance sector in our country is quite low. In this study, after the concept of economic growth is explained, econometric study is carried out by giving information about insurance and it is examined whether the insurance expenditures between 2008-2017 is an effect on economic growth.