La finance entre l’éthique islamique, la réalité conventionnelle et croissance économique dans la région MENA

Finance Between Islamic Ethics, Conventional Reality and Economic Growth in the MENA Region

Abderraouf Mtiraoui and Feriel Gabsi

MPRA Paper from University Library of Munich, Germany

Abstract: The aim of this work is to study, in the first place, the theoretical framework the relationship between Islamic finance, conventional finance and economic growth while supporting an interesting literature review dealing with this type of research area especially the use of the new financial and economic terms. Second, we reviewed the review of existing literature that highlights the nature of the relationship between financial development and economic growth while considering the role played by Islamic finance as a catalyst for economic growth in investments and public spending and makes human work more efficient (education). Finally, we empirically try to discover the impacts of Islamic finance and conventional finance on economic growth and therefore the relationship between classical financial development (M3 /GDP) and Islamic financial development (FI) on the economic growth. Our empirical validation is very diverse considering the nature of the estimation methods used namely the fixed effects method, the random effects method, the GMM method in first differences and the GMM method in system for our study area MENA for twenty successive years (1990-2009).

Keywords: Islamic Finance; Conventional Finance; Economic Growth and Dynamic Panel Model (search for similar items in EconPapers)
JEL-codes: G17 (search for similar items in EconPapers)
Date: 2018-07-28
New Economics Papers: this item is included in nep-ara, nep-fdg and nep-isf
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:88251

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