Symptomy kryzysu globalnego a etyka gospodarcza religii światowych. Analiza porównawcza bankowości islamskiej i bankowości klasycznej w kontekście kryzysu finansowego
[The differences between the commercial banking system and Islamic Banking in the context of the global financial crisis]
AbstractThis article deals with the issue of Islamic Banking and its differences from the classical, anglo-saxon banking system. It investigates the availability, prices and volatility of Islamic financial instruments during the global financial crisis in comparison to the behavior of similar instruments offered by commercial banks. For this purpose 3 hypothesis, based on conclusions from the state-of-the-art research on Islamic Finance, were tested: (1) because of the prohibition of speculation, high risk aversion and a distinctive form of enterprise financing the equity prices of shariah-compliant firms were less volatile and more stable than other equity prices; (2) the asset portfolio of classical banks were much more riskier than of similar Shariah-compliant banks; (3) the higher level of trust between Islamic financial market participants induced by sharing the same religion, values and the same set of moral and formal rules has reduced in comparison to the classical banking scheme the dry-up of interbank money liquidity caused by the recent financial crisis. The results of the conducted tests indicate that there were no major differences between Shariah-compliant and commercial banks during the recent financial crisis.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 26971.
Date of creation: Nov 2010
Date of revision:
Islamic Banking; Financial Crisis; Ethics;
Find related papers by JEL classification:
- A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
- P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
This paper has been announced in the following NEP Reports:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bradley J. Ruffle & Richard Sosis, 2010. "Do religious contexts elicit more trust and altruism? An experiment on Facebook," Working Papers 1002, Ben-Gurion University of the Negev, Department of Economics.
- Hasan, Zubair, 2010.
"Islamic Finance:Structure-objective mismatch and its consequences,"
21726, University Library of Munich, Germany.
- Hasan, Zubair, 2010. "Islamic Finance:Sructure-objective mismatch and its consequences," MPRA Paper 21536, University Library of Munich, Germany.
- Hasan, Zubair, 2004. "Measuring efficiency of Islamic banks: criteria, methods, and social priorities," MPRA Paper 2977, University Library of Munich, Germany.
- Chong, Beng Soon & Liu, Ming-Hua, 2009. "Islamic banking: Interest-free or interest-based?," Pacific-Basin Finance Journal, Elsevier, vol. 17(1), pages 125-144, January.
- Timur Kuran, 1995. "Islamic Economics and the Islamic Subeconomy," Journal of Economic Perspectives, American Economic Association, vol. 9(4), pages 155-173, Fall.
- Kartik Anand & Prasanna Gai & Matteo Marsili, 2009. "Financial crises and the evaporation of trust," Papers 0911.3099, arXiv.org.
- Weill, Laurent, 2010.
"Do Islamic banks have greater market power?,"
BOFIT Discussion Papers
2/2010, Bank of Finland, Institute for Economies in Transition.
- Laurent Weill, 2010. "Do Islamic Banks Have Greater Market Power?," Working Papers 548, Economic Research Forum, revised Sep 2010.
- Laurent Weill, 2009. "Do Islamic Banks Have Greater Market Power ?," Working Papers of LaRGE Research Center 2009-02, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg (France).
- Noland, Marcus, 2005. "Religion and economic performance," World Development, Elsevier, vol. 33(8), pages 1215-1232, August.
- Kuran, T., 1995. "Islamic Economics and the Islamic Subeconomy," Papers 9505, Southern California - Department of Economics.
- Pryor, Frederic L., 2007. "The Economic Impact of Islam on Developing Countries," World Development, Elsevier, vol. 35(11), pages 1815-1835, November.
- Presley, John R & Sessions, John G, 1994. "Islamic Economics: The Emergence of a New Paradigm," Economic Journal, Royal Economic Society, vol. 104(424), pages 584-96, May.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.