The Hungarian insurance market structure: an empirical analysis

Abstract This paper analyzes the market structure of Hungarian insurance market, which operated as a monopoly until 1986. After regime change this sector started to develop rapidly. But has strong oligopolistic character, and thus raises an interesting question how close is state perfect competition. Based on Panzar Rosse (J Ind Econ 35:443–456, 1987) methodology we estimate elasticity total revenues with respect changes in input prices, so that can determine structure. The estimation price made static dynamic panel model. According research significantly differs from competition case between 2010 2019. long-run equilibrium, hypothesis cannot be rejected. important for modelling phenomena new regulations effectively, relevant supervision protection customers.