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The objective of this study is to analyse the relationship of economic growth and financial development as determinants of NLI premium consumption, using data from a highly volatile economic environment. The empirical results revealed a positive relationship among economic growth, credit, and the NLI market in Brazil. Results also suggest Granger bi-causality between economic growth and NLI premiums in Brazil.
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Cavalcante et al. (2018) studied this question.
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