What Determines the Financial and Insurance Services Exports: The Case of the United Kingdom

Authors

  • Emmanouil Karakostas Ph.D., Dept. of International and European Studies, School of Economics, Business and International Studies, University of Piraeus, Piraeus, Greece

DOI:

https://doi.org/10.52502/ijfaema.v3i6.203

Keywords:

Financial, Insurance Services, Exports, OLS

Abstract

The financial sector is a very basic pillar of the international financial system. Almost all countries of the present international economic system participate in international financial services. Today's era, due to intense globalization, constant capital movements, continuous commercial integration and the ever-increasing financial interconnection, have made financial and insurance services an essential element of the present reality. The financial sector is an industry that is very 'sensitive' to the macroeconomic and political stability of countries. This means that countries that are considered unstable cannot have a positive impact on their financial activities. One country that has a strong position in the financial sector is the United Kingdom (UK). The question that can be asked is this: what are the factors that determine the optimal functioning of financial and insurance activities. One answer could be the strong financial institutions of a country. Another answer is the corruption indicator. Or even the existence of intervention by the state apparatus in the financial functions. Of course, these factors must have tangible proof of the functioning of the economy. State intervention, for example, does not entirely mean that it is dysfunctional. This study will seek to create a framework for the analysis of financial services factors. The methodology applied is The Multiple Linear Regression - Ordinary Least Squares (OLS).

Published

2021-12-20

How to Cite

Karakostas, E. . (2021). What Determines the Financial and Insurance Services Exports: The Case of the United Kingdom . International Journal of Financial Accountability, Economics, Management, and Auditing (IJFAEMA), 3(6), 1071-1081. https://doi.org/10.52502/ijfaema.v3i6.203