Journal of Banking & Finance Vol. 32 No. 1 2008
Insurance market mechanisms and government interventions
Abstract
The expansion of the State-as-insurer has played a major role in the long-term growth of the public sector, but we are probably reaching the turning point. Because of its manifold failures, the State-as-insurer is facing crisis all around the world, with exploding expenditures. This will probably induce a shift in the private–public frontier, which makes it much more important than in the past to regulate the insurance industry efficiently. Coming back to the failures of the State-as-insurer, we should underline the role played by this flawed hypothesis that sets market logic and private interest against public interest.
- DOI
- 10.1016/j.jbankfin.2007.09.007
- Volume
- 32
- Issue
- 1
- Pages
- 4-14
- Language
- en
- Sources
- openalex crossref bibtex:phds-export.bib