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AuthorSmaoui, Houcem
AuthorMimouni, Karim
AuthorTemimi, Akram
Available date2020-08-27T12:05:51Z
Publication Date2017
Publication NameEconomics Letters
ResourceScopus
ISSN1651765
URIhttp://dx.doi.org/10.1016/j.econlet.2017.09.014
URIhttp://hdl.handle.net/10576/15825
AbstractUsing the system GMM estimation technique, we study the effects of the financial development on Sukuk markets using a panel dataset of 11 countries from 1995 to 2015. First, we find 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, we show that the 2008 global financial crisis has a positive effect on Sukuk markets development. - 2017 Elsevier B.V.
Languageen
PublisherElsevier B.V.
SubjectCrisis
Financial development
Sukuk
TitleSukuk, banking system, and financial markets: Rivals or complements?
TypeArticle
Pagination62-65
Volume Number161
dc.accessType Abstract Only


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