IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/94804.html
   My bibliography  Save this paper

Le développement de la finance islamique entre la tendance et la durabilité dans la région MENA : Application sur les données de panel
[The Development of Islamic Finance Between Trend and stability in the MENA Region: Application to Panel Data]

Author

Listed:
  • Mtiraoui, Abderraouf
  • Lassoued, Mongi
  • Hassen Khémiri, Hend

Abstract

Drawing on a review of the innovative literature, we first examine theoretically the nature of the relationship between financial development and economic growth, while taking into account the role played by Islamic finance in steering investment and public spending. which takes into account the effective human (education) in the presence of conventional finance. Finally, we try empirically to discover the influences of Islamic finance as a trend towards economic growth describing the stability and sustainability of any financial system used and hence the relationship between Islamic financial development and economic growth. Our empirical validation is based on a panel data application for our MENA region over a long period of 20 years (1990-2009).

Suggested Citation

  • Mtiraoui, Abderraouf & Lassoued, Mongi & Hassen Khémiri, Hend, 2019. "Le développement de la finance islamique entre la tendance et la durabilité dans la région MENA : Application sur les données de panel [The Development of Islamic Finance Between Trend and stabilit," MPRA Paper 94804, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:94804
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/94804/1/MPRA_paper_94804.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Hasan, Zubair, 2008. "Credit creation and control: an unresolved issue in Islamic banking," MPRA Paper 8130, University Library of Munich, Germany, revised 07 Apr 2008.
    2. Ross Levine & Norman Loayza & Thorsten Beck, 2002. "Financial Intermediation and Growth: Causality and Causes," Central Banking, Analysis, and Economic Policies Book Series, in: Leonardo Hernández & Klaus Schmidt-Hebbel & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Se (ed.),Banking, Financial Integration, and International Crises, edition 1, volume 3, chapter 2, pages 031-084, Central Bank of Chile.
    3. Ebrahim, M. Shahid, 2009. "Can an Islamic model of housing finance cooperative elevate the economic status of the underprivileged?," Journal of Economic Behavior & Organization, Elsevier, vol. 72(3), pages 864-883, December.
    4. Mohsin S. Khan & Abbas Mirakhor, 2009. "Monetary Management in an Islamic Economy الإدارة النقدية في اقتصاد إسلامي," Chapters of books published by the Islamic Economics Institute, KAAU or its faculty members., in: Islamic Economics Institute (ed.),Issues in the International Financial Crisis from an Islamic Perspective-05 قضايا في الأزمة المالية الدولية من منظور إسلامي, edition 1, chapter 12, pages 209-232, King Abdulaziz University, Islamic Economics Institute..
    5. Kassim, Salina, 2016. "Islamic finance and economic growth: The Malaysian experience," Global Finance Journal, Elsevier, vol. 30(C), pages 66-76.
    6. Beck, Thorsten & Levine, Ross, 2004. "Stock markets, banks, and growth: Panel evidence," Journal of Banking & Finance, Elsevier, vol. 28(3), pages 423-442, March.
    7. Suleiman Abu‐Bader & Aamer S. Abu‐Qarn, 2008. "Financial Development and Economic Growth: Empirical Evidence from Six MENA Countries," Review of Development Economics, Wiley Blackwell, vol. 12(4), pages 803-817, November.
    8. Zubair Hasan, 2008. "Credit Creation And Control: An Unresolved Issue In Islamic Banking "توليد" ومراقبة الائتمان: إشكال عالق لدى المصارف الإسلامية," Papers and books based on the proceedings of the Conferences organized by the Islamic Economics Institute, KAAU. 52, King Abdulaziz University, Islamic Economics Institute..
    9. Jean Rédis, 2006. "Contribution à la connaissance de l'accompagnement à la levée de fonds destiné aux jeunes entreprises de croissance : le cas de la France," Revue de l'Entrepreneuriat, De Boeck Université, vol. 5(1), pages 73-89.
    10. Chatti, Mohamed Ali, 2010. "Analyse Comparative Entre La Finance Islamique Et Le Capital-Risque," Etudes en Economie Islamique, The Islamic Research and Training Institute (IRTI), vol. 4, pages 65-95.
    11. Arellano, Manuel & Bover, Olympia, 1995. "Another look at the instrumental variable estimation of error-components models," Journal of Econometrics, Elsevier, vol. 68(1), pages 29-51, July.
    12. Manuel Arellano & Stephen Bond, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(2), pages 277-297.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mtiraoui, Abderraouf & GABSI, Feriel, 2018. "La finance entre l’éthique islamique, la réalité conventionnelle et croissance économique dans la région MENA [Finance Between Islamic Ethics, Conventional Reality and Economic Growth in the MENA R," MPRA Paper 88251, University Library of Munich, Germany.
    2. W.N.W Azman‐Saini & Peter Smith, 2011. "Finance And Growth: New Evidence On The Role Of Insurance," South African Journal of Economics, Economic Society of South Africa, vol. 79(2), pages 111-127, June.
    3. Zouheir Abida & Imen Mohamed Sghaier & Nahed Zghidi, 2015. "Financial Development and Economic Growth: Evidence from North African Countries," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 2, pages 17-33, April.
    4. Abderraouf Ben Ahmed Mtiraoui & Feriel Gabsi, 2018. "Finance Between Islamic Ethics, Conventional Reality and Economic Growth in the MENA Region [La finance entre l’éthique islamique, la réalité conventionnelle et croissance économique dans la région," Post-Print hal-02554666, HAL.
    5. Smaoui, Houcem & Nechi, Salem, 2017. "Does sukuk market development spur economic growth?," Research in International Business and Finance, Elsevier, vol. 41(C), pages 136-147.
    6. Jean-Pierre Allegret & Sana Azzabi, 2014. "Intégration financière internationale et croissance économique dans les pays émergents et en développement : le canal du développement financier," Revue d’économie du développement, De Boeck Université, vol. 22(3), pages 27-68.
    7. Hassan Hamadi & Charbel Bassil, 2015. "Financial Development and Economic Growth in the MENA Region," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 57(4), pages 598-622, December.
    8. Ma, Yong & Lv, Lin, 2023. "Financial development, financial instability, and fiscal policy volatility: International evidence," The North American Journal of Economics and Finance, Elsevier, vol. 64(C).
    9. Laurent Cavenaile & Christian Gengenbach & Franz Palm, 2014. "Stock Markets, Banks and Long Run Economic Growth: A Panel Cointegration-Based Analysis," De Economist, Springer, vol. 162(1), pages 19-40, March.
    10. Narayan, Paresh Kumar & Narayan, Seema, 2013. "The short-run relationship between the financial system and economic growth: New evidence from regional panels," International Review of Financial Analysis, Elsevier, vol. 29(C), pages 70-78.
    11. Nasreen, Samia & Mahalik, Mantu Kumar & Shahbaz, Muhammad & Abbas, Qaisar, 2020. "How do financial globalization, institutions and economic growth impact financial sector development in European countries?," Research in International Business and Finance, Elsevier, vol. 54(C).
    12. Alessio Ciarlone, 2019. "The relationship between financial development and growth: the case of emerging Europe," Questioni di Economia e Finanza (Occasional Papers) 521, Bank of Italy, Economic Research and International Relations Area.
    13. Justin Yifu LIN & Xifang SUN, 2009. "Banking structure and economic growth: Evidence from China," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 4(4), pages 479-504, December.
    14. Arshad Ali Bhatti & M. Emranul Haque & Denise R. Osborn, 2013. "Is the Growth Effect of Financial Development Conditional on Technological Innovation?," Centre for Growth and Business Cycle Research Discussion Paper Series 188, Economics, The University of Manchester.
    15. Thorsten Beck, 2009. "The Econometrics of Finance and Growth," Palgrave Macmillan Books, in: Terence C. Mills & Kerry Patterson (ed.), Palgrave Handbook of Econometrics, chapter 25, pages 1180-1209, Palgrave Macmillan.
    16. Felix Rioja & Neven Valev, 2012. "Financial structure and capital investment," Applied Economics, Taylor & Francis Journals, vol. 44(14), pages 1783-1793, May.
    17. Perera, Anil & Ralston, Deborah & Wickramanayake, Jayasinghe, 2013. "Central bank financial strength and inflation: Is there a robust link?," Journal of Financial Stability, Elsevier, vol. 9(3), pages 399-414.
    18. David Roodman, 2009. "A Note on the Theme of Too Many Instruments," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 71(1), pages 135-158, February.
    19. Koutsomanoli-Filippaki, Anastasia & Mamatzakis, Emmanuel C., 2010. "Estimating the speed of adjustment of European banking efficiency under a quadratic loss function," Economic Modelling, Elsevier, vol. 27(1), pages 1-11, January.
    20. M. Tariq Majeed & Ayesha Noreen, 2018. "Financial Development and Output Volatility: A Cross-Sectional Panel Data Analysis," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 23(1), pages 97-141, Jan-June.

    More about this item

    Keywords

    Islamic Finance; Economic Growth and Panel Data;

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:94804. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.