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]
This 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.
|Date of creation:||Nov 2010|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
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.:
- Pryor, Frederic L., 2007. "The Economic Impact of Islam on Developing Countries," World Development, Elsevier, vol. 35(11), pages 1815-1835, November.
- Kuran, T., 1995. "Islamic Economics and the Islamic Subeconomy," Papers 9505, Southern California - Department of Economics.
- 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.
- Hasan, Zubair, 2004. "Measuring efficiency of Islamic banks: criteria, methods, and social priorities," MPRA Paper 2977, University Library of Munich, Germany.
- Kartik Anand & Prasanna Gai & Matteo Marsili, 2009. "Financial crises and the evaporation of trust," Papers 0911.3099, arXiv.org.
- 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.
- 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.
- George A. Akerlof, 2009. "How Human Psychology Drives the Economy and Why It Matters," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(5), pages 1175-1175.
- Noland, Marcus, 2005. "Religion and economic performance," World Development, Elsevier, vol. 33(8), pages 1215-1232, August.
- Presley, John R & Sessions, John G, 1994. "Islamic Economics: The Emergence of a New Paradigm," Economic Journal, Royal Economic Society, vol. 104(424), pages 584-596, May.
- 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.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:26971. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.