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Finance-Growth Nexus and Dual-Banking Systems: Relative Importance of Islamic Banks

Author

Listed:
  • Pejman Abedifar

    (University of Saint Andrews)

  • Iftekhar Hasan

    (Fordham University, 1790 Broadway, 11th Floor, New York, NY 10019, USA - Fordham University [New York])

  • Amine Tarazi

    (LAPE - Laboratoire d'Analyse et de Prospective Economique - GIO - Gouvernance des Institutions et des Organisations - UNILIM - Université de Limoges)

Abstract
This paper investigates the relative importance of Islamic banks, alongside their conventional counterparts, in relation tobanking and financial development and economic welfare. Using a sample of 22 Muslim countries, with dual-banking systems, during the period 1999–2011, this paper reports some significant positive relationship between the market share of Islamic banks and the development of financial intermediation, financial deepening and economic welfare, particularly in low income or predominantly Muslim countries,and countries with a comparatively higher uncertainty avoidance index. Additionally, the results reveal thata greater market share of Islamic banks is associated with higherefficiency of conventional banks.

Suggested Citation

  • Pejman Abedifar & Iftekhar Hasan & Amine Tarazi, 2016. "Finance-Growth Nexus and Dual-Banking Systems: Relative Importance of Islamic Banks," Post-Print hal-01324715, HAL.
    • Handle: RePEc:hal:journl:hal-01324715
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    Keywords

    Banking System Structure; Financial Development; Finance-Growth Nexus; Islamic Banking;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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