FINANCIAL INCLUSIONS, FINANCIAL STABILITY, AND INCOME INEQUALITY IN OIC COUNTRIES: A GMM AND QUANTILE REGRESSION APPLICATION

Fatima Muhammad Abdulkarim () and Hamisu Sadi Ali ()
Additional contact information
Fatima Muhammad Abdulkarim: Federal University Dutse
Hamisu Sadi Ali: Ahmadu Bello University

Journal of Islamic Monetary Economics and Finance, 2019, vol. 5, issue 2, 419-438

Abstract: This paper examines the relationship among financial inclusion, financial stability, and income inequality in some selected Organization of Islamic Corporations (OIC) countries. Data were analyzed using dynamic panel estimation and quantile regression for 47 OIC countries during 2006 - 2016. The results of dynamic GMM reveal that financial inclusion has a positive and significant effect on both financial stability and income inequality. This implies that increased financial access helped narrow the gap between the rich and poor as well as provided financial stability in OIC countries. Therefore, policy makers should strive to design policies that will make financial services more available and affordable to the masses. Thus, it is safe to conclude that availability of both Islamic and conventional finances in OIC countries contributes positively to the development of the countries.

Keywords: Financial Inclusion; Financial Stability; Income Inequality; OIC Countries; GMM; Quantile Regression (search for similar items in EconPapers)
JEL-codes: D3 D31 D63 G0 G1 (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://jimf-bi.org/index.php/JIMF/article/view/1069/757 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:idn:jimfjn:v:5:y:2019:i:2h:p:419-438

DOI: 10.21098/jimf.v5i2.1069

Access Statistics for this article

Journal of Islamic Monetary Economics and Finance is currently edited by Dr. Ali Sakti

More articles in Journal of Islamic Monetary Economics and Finance from Bank Indonesia Contact information at EDIRC.
Bibliographic data for series maintained by Lutzardo Tobing ( this e-mail address is bad, please contact ) and Jimmy Kathon ().