Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/92630
Authors: 
Souma, Toshiyuki
Tsutsui, Yoshiro
Year of Publication: 
2005
Series/Report no.: 
ISER Discussion Paper, Institute of Social and Economic Research, Osaka University 637
Abstract: 
This paper examines a change in the level of competition in the Japanese life insurance industry over the last 17 years. We estimate the first order condition for profit-maximizing insurance oligopolies to obtain the degree of non-competition and collusion. Estimation results suggest that: 1) not only stock companies, but also mutual companies maximize their own profits rather than pay out dividends to policyholders; 2) competition has become stronger since 1995; 3) revision of Insurance Industry Law and failures of insurance companies promoted the competition; and 4) the competition in the recent years is still more lax than the pre-war period.
Subjects: 
Life insurance
Degree of competition
Collusion
Japan
JEL: 
G22
L13
L21
Document Type: 
Working Paper

Files in This Item:
File
Size
372.06 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.