Publication:
Economic Forces and the Sukuk Market

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dc.ConferencedateDEC 01-02, 2012
dc.ConferencelocationJakarta, INDONESIA
dc.ConferencenameInternational Congress on Interdisciplinary Business and Social Sciences (ICIBSoS)
dc.contributor.authorAhmad, Nen_US
dc.contributor.authorDaud, SNMen_US
dc.contributor.authorKefeli, Zen_US
dc.date.accessioned2024-05-29T03:26:42Z
dc.date.available2024-05-29T03:26:42Z
dc.date.issued2012
dc.description.abstractThe aim of this study is to investigate macroeconomic influences on sukuk issuance in Malaysia for the period 1996-2011 at the aggregate level. Based on vector autoregressive models (VARs), variance decomposition (VDC) and impulse response functions (IRE), the results indicate that sukuk Granger-cause GDP while GDP Granger-causes both PPI and CPI. Sukuk are also driven by their own dynamics in the short horizon. The results have important policy implications to the decision-makers. Since sukuk issuance Granger-causes GDP, policy makers should design new policies to modernize the functional aspects of Islamic capital market. A further implication for international institutional investors is that sukuk have the competitive advantage since it targets a segment of the global markets that has not been penetrated by other rivals. (C) 2012 Published by Elsevier Ltd.en_US
dc.identifier.doi10.1016/j.sbspro.2012.11.101
dc.identifier.epage133
dc.identifier.issn1877-0428
dc.identifier.scopusWOS:000318906200020
dc.identifier.spage127
dc.identifier.urihttps://oarep.usim.edu.my/handle/123456789/12147
dc.identifier.volume65
dc.languageEnglish
dc.language.isoen_USen_US
dc.publisherElsevier Science Bven_US
dc.relation.ispartofInternational Congress On Interdisciplinary Business And Social Sciences 2012 (Icibsos 2012)en_US
dc.sourceWeb Of Science (ISI)
dc.subjectSukuken_US
dc.subjectVARen_US
dc.subjectGranger-causalityen_US
dc.subjectvariance decompositionen_US
dc.subjectmacroeconomic variablesen_US
dc.titleEconomic Forces and the Sukuk Marketen_US
dc.typeArticleen_US
dspace.entity.typePublication

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