The Role of Insurance in the Economy of the Republic of North Macedonia

Era Memeti; Sulbije Memeti

Title:
The Role of Insurance in the Economy of the Republic of North Macedonia

Authors:
Sulbije Memeti | Era Memeti

Cite This Article :

Sulbije Memeti | Era Memeti "The Role of Insurance in the Economy of the Republic of North Macedonia" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-2, February 2021, pp.210-212, URL: https://www.ijtsrd.com/papers/ijtsrd38392.pdf

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Abstract :
Insurance presents an important role on the financial system that contributes in a significant way to a country's economy. The insurance market also has great potential in the economic development of the country, where it provides financial assistance, and it helps in risk management. In this paper, we tried to build the objectives of growth and development on insurance in the Republic of North Macedonia, as well as to measure growth and to assess the impact of insurance on GDP. Insurance can be used to encourage investment, to mobilize savings, and to promote financial stability. Also, it can be count as a source of sustainable funding for the financial markets as well as for the domestic economy. Based on secondary data we have tried to analyze the relationship between insurance development and their impact on GDP.

Keywords :
financial system, risk management, investment, financial stability

Publication Details:

Unique Identification Number : IJTSRD38392

Published In : Volume-5 | Issue-2, February 2021

Page Number(s) : 210-212

Publisher Name : IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470

Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

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