DOES ISLAMIC BANKING CONTRIBUTE TO ECONOMIC GROWTH? A STUDY OF A SAMPLE OF COUNTRIES
Keywords:
Islamic banking finance, Economic growth, cross-sectional time series data, Granger's CausalityAbstract
The study aimed to investigate the impact of Islamic banking finance on economic growth and the nature of the relationship between them for a group of countries during the period from 2014 to 2018 on the basis of quarterly data, using the method of segmental time series data (Panel data)The results of the study indicated that Islamic banking finance negatively affects economic growth in the countries under study, while there is a positive effect of Islamic banking investment on economic growth, and the real exchange rate negatively affects economic growth. The results of Granger's causality tests showed that there is a one-way causal relationship moving from Islamic banking finance to economic growth.
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