Islamic finance and economic growth: the Malaysian experience

The increasing presence of Islamic banking and finance in Malaysia's financial sector and the country's exemplary role in the global Islamic finance industry has called for an evaluation of the contribution of Islamic finance to the real economic activity. This study applies the ARDL appro...

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Main Author:	Kassim, Salina
Format:	Article
Language:	English English
Published:	Elsevier 2016
Subjects:	HB Economic Theory HG Finance
Online Access:	http://irep.iium.edu.my/46104/ http://irep.iium.edu.my/46104/ http://irep.iium.edu.my/46104/ http://irep.iium.edu.my/46104/1/Islamic%20finance%20and%20economic%20growth.pdf http://irep.iium.edu.my/46104/2/46104_Islamic%20finance%20and%20economic%20growth_SCOPUS.pdf

id	iium-46104
recordtype	eprints
spelling	iium-461042017-01-03T01:41:54Z http://irep.iium.edu.my/46104/ Islamic finance and economic growth: the Malaysian experience Kassim, Salina HB Economic Theory HG Finance The increasing presence of Islamic banking and finance in Malaysia's financial sector and the country's exemplary role in the global Islamic finance industry has called for an evaluation of the contribution of Islamic finance to the real economic activity. This study applies the ARDL approach on quarterly data set covering the period from 1998 to 2013 to empirically investigate the impact of Islamic finance on performances of major macroeconomic indicators. The results suggest that the Islamic finance has started to make important contributions to the real economy by effectively carrying-out the financial intermediation role of pooling and channelling funds to the investment activities. In view of the important contributions of Islamic finance to the Malaysian economy, continuous efforts need to be undertaken to expand the industry. This includes refinement of the legal and regulatory framework to enable healthier growth of the industry, thus further strengthens Malaysia's position as the leader in promoting Islamic finance at the global level. Elsevier 2016-05 Article PeerReviewed application/pdf en http://irep.iium.edu.my/46104/1/Islamic%20finance%20and%20economic%20growth.pdf application/pdf en http://irep.iium.edu.my/46104/2/46104_Islamic%20finance%20and%20economic%20growth_SCOPUS.pdf Kassim, Salina (2016) Islamic finance and economic growth: the Malaysian experience. Global Finance Journal, 30. pp. 1-12. ISSN 1044-0283 (In Press) http://www.sciencedirect.com/science/article/pii/S1044028316300424 10.1016/j.gfj.2015.11.007
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	HB Economic Theory HG Finance
spellingShingle	HB Economic Theory HG Finance Kassim, Salina Islamic finance and economic growth: the Malaysian experience
description	The increasing presence of Islamic banking and finance in Malaysia's financial sector and the country's exemplary role in the global Islamic finance industry has called for an evaluation of the contribution of Islamic finance to the real economic activity. This study applies the ARDL approach on quarterly data set covering the period from 1998 to 2013 to empirically investigate the impact of Islamic finance on performances of major macroeconomic indicators. The results suggest that the Islamic finance has started to make important contributions to the real economy by effectively carrying-out the financial intermediation role of pooling and channelling funds to the investment activities. In view of the important contributions of Islamic finance to the Malaysian economy, continuous efforts need to be undertaken to expand the industry. This includes refinement of the legal and regulatory framework to enable healthier growth of the industry, thus further strengthens Malaysia's position as the leader in promoting Islamic finance at the global level.
format	Article
author	Kassim, Salina
author_facet	Kassim, Salina
author_sort	Kassim, Salina
title	Islamic finance and economic growth: the Malaysian experience
title_short	Islamic finance and economic growth: the Malaysian experience
title_full	Islamic finance and economic growth: the Malaysian experience
title_fullStr	Islamic finance and economic growth: the Malaysian experience
title_full_unstemmed	Islamic finance and economic growth: the Malaysian experience
title_sort	islamic finance and economic growth: the malaysian experience
publisher	Elsevier
publishDate	2016
url	http://irep.iium.edu.my/46104/ http://irep.iium.edu.my/46104/ http://irep.iium.edu.my/46104/ http://irep.iium.edu.my/46104/1/Islamic%20finance%20and%20economic%20growth.pdf http://irep.iium.edu.my/46104/2/46104_Islamic%20finance%20and%20economic%20growth_SCOPUS.pdf
first_indexed	2023-09-18T21:05:37Z
last_indexed	2023-09-18T21:05:37Z
_version_	1777410913599488000

Islamic finance and economic growth: the Malaysian experience

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