The effects of interest rate on Islamic bank financing instruments: Cross-country evidence from dual-banking systems
作者: Mirzet ŠehoObiyathulla Ismath BachaEdib Smolo
作者单位: 1School of Business, Monash University Malaysia, Jalan Lagoon Selatan, Bandar Sunway 47500, Selangor Darul Ehsan, Malaysia
2School of Graduate Studies, International Centre for Education in Islamic Finance (INCEIF), Lorong Universiti A, Petaling Jaya 59100, Kuala Lumpur, Malaysia
3Department of Economics and Management, International University of Sarajevo, Hrasnička cesta 15, Ilidža 71210, Bosnia and Herzegovina
刊名: Pacific-Basin Finance Journal, 2020
来源数据库: Elsevier Journal
DOI: 10.1016/j.pacfin.2020.101292
关键词: Islamic banksFinancingInstrumentsInterest rateRisk-sharing
原始语种摘要: Abstract(#br)In theory, the cornerstones of Islamic finance are interest avoidance and risk-sharing. In practice, however, Islamic banks seem to be lacking both, particularly the latter. We investigate the interest rate impact on Islamic banks' three most-widely used types of financing instruments – i.e. sale-based, lease-based and risk-sharing – by employing the system GMM estimators on a unique panel data set of 77 Islamic banks from 13 countries over the period 2003–2017. We find that sale- and lease-based financing instruments are negatively correlated with the interest rate and that their exposure is amplified in more developed Islamic banking jurisdictions. Risk-sharing instruments, however, appear to be out of the interest rate domain of influence except in less developed Islamic...
全文获取路径: Elsevier  (合作)
影响因子:0.571 (2012)

  • banking 筑堤
  • country 地方
  • financing 供给资金
  • evidence 
  • interest 兴趣
  • systems 系统科学与软件
  • sharing 共用
  • banks 管束
  • instruments 工具
  • effects 海员自身物品