Comparative Analysis of Sixty-two Countries Based on Financial Services with A Focus on Pakistan

Abstract

The study aims to compare Pakistan's Insurance and financial services with sixty-one selected countries. The study's overall design comprises a literature survey, data acquisition, and analysis. The population under study is all sovereign countries of the world. The sampling design is purposive sampling and the sample size is sixty-two countries. The technique of analysis is Grey Relational Analysis (GRA). Data are acquired from World Development Indicators (WDI), i.e., World Bank's website. The study results show that Libya ranks at first position, Pakistan at the thirty-sixth, and Madagascar at sixty-second position according to financial services (including insurance services). The study is based on an authentic real dataset and the study provides propounding insights to the stakeholders. It also provides food for thought to the policymakers. It contributes country-wise Grey Relational Coefficients, Grades, and Ranks to the literature.  

Keywords: Performance Measurement, Finance, Insurance, Grey Relational Analysis