The impact of the systemic competitiveness of the economies of the Visegrad Group countries on the development of their non-life insurance markets in 2004–2020

Abstract

The aim of the article is to assess the impact of selected factors of systemic competitiveness of the Visegrad Group economies on the development of their non-life insurance markets in 2004–2020. The study analyzes the literature on the subject, as well as the methods of descriptive statistics and econometric analysis, for the needs of which synthetic indicators of the development of non-life insurance markets of the analyzed countries were constructed. Based on the conducted research, it was found that Poland’s position within the Visegrad Group in terms of the development of the non-life insurance market was leading, despite the fact that the Czech Republic was characterized by the highest level of systemic competitiveness. Moreover, there were similarities between the markets of both countries. They were shaped in a positive, statistically significant way by the same components of systemic competitiveness (property rights and freedom of the labor market). The next places were taken by the Hungarian and Slovak markets. Keywords