A study on the effect of GDP per capita, domestic savings, total imports, total exports, real interest rate, dependency ratio, and foreign direct investment to insurance and financial services in developing countries from the years 2005-2012

This paper aims to tackle the different factors affecting insurance and financial services in developing countries across the globe. The financial services sector, which is made up of public and private institutions, plays an important role in developing nations as it comprises insurance, banking, and asset management services that help in building a nation. Recent events portray a number of developing countries to be in a hot spot for potential investors, most especially the Asian developing countries that are showing a lot of potential. The group was able to identify seven variables that can affect insurance and financial services, namely GDP per capita, domestic savings, total imports, total exports, real interest rate, dependency ratio and foreign direct investment. Through this, the researchers performed a regression on the variables derived using panel data analysis. After interpreting the data, the group checked for violations, and lastly, conducted a final interpretation using the final regressed model