|
Sukuk, Banking System, and Financial Markets: Rivals or Complements?
|
Ehsan Mansouri   |
| Assistant Professor, Industrial Engineering Department, Engineering Faculty, Arak University |
|
|
Abstract: (3306 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 214 kb]
(824 Downloads)
|
Article type: Research |
Subject:
Special
Received: 2020/05/6 | Accepted: 2020/06/20 | Published: 2020/06/23
|
|
|
|
|
|
