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:: Volume 9, Issue 31 (6-2020) ::
mieaoi 2020, 9(31): 7-15 Back to browse issues page
Sukuk, Banking System, and Financial Markets: Rivals or Complements?
Ehsan Mansouri
Assistant Professor, Industrial Engineering Department, Engineering Faculty, Arak University
Abstract:   (623 Views)
In this paper, used the system GMM estimation technique to study the effects of the financial development on Sukuk markets by using a panel dataset of 11 countries from 1995 to 2015. At the First, research findings shows that Sukuk and bank financing are substitutes. Economies where banks play a key role in providing private credit issue less Sukuk. Second, the evidence shows that Sukuk are complements to bonds and stocks. More Sukuk are issued in market-oriented economies. Finally, this paper shows that the 2008 global financial crisis has a positive effect on Sukuk markets development.
 
Keywords: Sukuk, Financial development, Crisis, Bank System
Full-Text [PDF 292 kb]   (200 Downloads)    
Type of Study: Research | Subject: Special
Received: 2020/05/6 | Accepted: 2020/06/20 | Published: 2020/06/23
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Mansouri E. Sukuk, Banking System, and Financial Markets: Rivals or Complements?. mieaoi. 2020; 9 (31) :7-15
URL: http://mieaoi.ir/article-1-956-en.html


Volume 9, Issue 31 (6-2020) Back to browse issues page
نشریه اقتصاد و بانکداری اسلامی Islamic Economics & Banking
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