摘要：The aim of this paper is to examine market structure, liberalisation and performance relationship for the non-life insurance industry in the ex-Yugoslavia region. We use the country-specific fixed effects models for panel data allowing each cross-sectional unit to have a different intercept term serving as an unobserved random variable that is potentially correlated with the observed regressors. Three models are presented, each placing market structure, liberalisation and profitability in distinct surroundings defined by related control variables. The research results indicate strong influence of market structure and liberalisation on market profitability.
关键词：non-life insurance; market structure; profitability; ex-Yugoslavia region
