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Does the size of Islamic banking matter for industry growth: international evidence

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Listed:
  • Abdelaziz Chazi
  • Ali Mirzaei
  • Zaher Zantout
  • Asm Sohel Azad

Abstract

Islamic banking, which has witnessed unprecedented growth in the last quarter of the century is hypothesized to be able to contribute to the development of the financial sector and thus to economic growth through tools inherent to this faith-based model of banking. We test the hypothesis that a higher relative presence of Islamic banking is beneficial to the growth of external finance dependent industries. Using data for 28 industries in 14 countries with dual banking systems, we find that the absolute and relative size of Islamic banking do have a positive impact on industry growth. The results are robust to controlling for the quality of finance as well as for the degree of competition in the banking industry.

Suggested Citation

  • Abdelaziz Chazi & Ali Mirzaei & Zaher Zantout & Asm Sohel Azad, 2020. "Does the size of Islamic banking matter for industry growth: international evidence," Applied Economics, Taylor & Francis Journals, vol. 52(4), pages 361-374, January.
    • Handle: RePEc:taf:applec:v:52:y:2020:i:4:p:361-374
    DOI: 10.1080/00036846.2019.1645288
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    Cited by:

    1. Xiaojuan He & Dervis Kirikkaleli & Melike Torun & Zecheng Li, 2021. "Modeling Economic Risk in the QISMUT Countries: Evidence From Nonlinear Cointegration Tests," SAGE Open, , vol. 11(4), pages 21582440211, October.
    2. Khan, Abdullah & Rizvi, Syed Aun R. & Ali, Mohsin & Haroon, Omair, 2021. "A survey of Islamic finance research – Influences and influencers," Pacific-Basin Finance Journal, Elsevier, vol. 69(C).

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