Abstract
We estimate the influence of relative strength of Islamic finance on GDP growth for OIC countries, as well as the whole world. We examine both static and dynamic relationship between Islamic finance and economic development using the panel data. We find that Islamic finance has a strong positive relationship with economic growth. We also use propensity score matching in our analysis to account for variables predictive of log(GDP). Finally we address selection bias by using an iterative Markov Chain Monte Carlo method to fill in the missing variables. Both of these techniques reinforce our primary findings.
Keywords:
Jel Code:
Article Details
- Year: 2022
- Volume: 43
- Issue: 2
- Pages: 101 - 128
- Accepted: 17.03.2022
-
DOI:
https://doi.org/10.5281/zenodo.16947280 -
Full Text (PDF)
2 Views 2 Downloads
How to Cite?
M. Kabir Hassan, Shadiya Hossain, Hasib Ahmed (2022). Impact of Islamic Finance on Economic Growth. Journal of Economic Cooperation and Development, 43(2), 101-128. https://doi.org/10.5281/zenodo.16947280
