Study On Dynamic Relationship Between Macro Economy And Different Kinds Of Insurances

In order to comprehensively understand the situation of insurance and economic development and find the inherent law of development,the filtering method is adopted to extract periodic components in the data after the reform and opening-up: the GDP,the total premium income,personal insurance and property insurance in this paper.The periodic parameters of the four are studied by the scientific method.The study finds that the pro-cyclicality effect between insurance and economic is obvious,especially the pro-cyclicality effect between property insurance and the economic.Since the reform and opening up,insurance and economic have strong interaction with each other.The mechanism of interaction between economy and insurance is studied in this paper.Firstly,the relationship between economy and insurance is discussed in the three economic variables.Then,establish the VAR model of personal insurance and economic variables and the VEC model of property insurance and economic variables.Finally analyze the two models by the impulse response function and Variance Decomposition.It is found that personal insurance develops rapidly,property insurance is more important to economic development than personal insurance.The study also found that total fixed asset investment and savings of urban and rural residents promoted economic development.The growth of total retail sales of consumer goods has an obvious hindrance to the development of property insurance.The periodicity of insurance development and economic development is found,in addition,the interaction mechanism between different kinds of risks and different economic variables is also found in this study.It not only helps to provide effective advice for future insurance development,but also provides a reference for formulating matching policies.