Browsing by Author "Makeleni, Mphumzi"

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    Analysing the relationship between economic growth and the insurance sector: Evidence from South Africa
    (University of Western Cape, 2021) Makeleni, Mphumzi; Sheefeni, Johannes P. S.
    The connection between the real economy and the financial sector continues to be a subject of debate amongst scholars. There is a plethora of studies dedicated to unravelling the relationship between economic activity and financial progress. However, a large share of those studies has concentrated on banking and the capital market industries; the studies that have undertaken to decipher the connection between the insurance industry and prosperity in the economy are insufficient. An understanding of the connection between the insurance industry and advancement in the economy is immensely important to effect judicious policy making, which will enhance and boost the economy. The primary goal of this study is to establish if there is a connection between the insurance industry and economic advancement in the South African context.
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    Essays on insurance-growth nexus In South Africa
    (University of the Western Cape, 2024) Makeleni, Mphumzi
    The relationship between financial development and economic growth has been a subject of extensive debate in both theoretical and empirical literature. Financial sectors, including banking, capital markets and insurance are generally regarded as important components of economic growth. While banking and capital markets have received significant attention in studies on the finance-growth nexus, the role of the insurance sector has often been underexplored, particularly in developing economies like South Africa. Insurance, by providing risk coverage and encouraging investment, contributes to the strengthening of the financial system and supporting economic development. South Africa is known to have a matured insurance market, however, along with the advanced financial and insurance structures the country continues to have high levels of inequality and unemployment, as well as low levels of economic growth. This study explored the dynamic relationship between the insurance sector and economic growth in South Africa through three distinct essay chapters. The study addressed how insurance impacts financial inclusion, other financial markets, and economic growth in South Africa.