Islamic Banking: How Has It Expanded?
Patrick Imam and
Kangni Kpodar ()
Emerging Markets Finance and Trade, 2013, vol. 49, issue 6, 112-137
We investigate the determinants of the pattern of Islamic bank expansion around the world using country-level data for 1992-2006. The analysis illustrates that income per capita, share of Muslims in the population, and economic integration with Middle Eastern countries are linked to the development of Islamic banking. Interest rates have a negative impact, while the quality of institutions is not found to be significant. The September 11, 2001, attacks were not a major factor in the expansion of Islamic banking, but they coincided with rising oil prices. Islamic banks also appear to be complements to, rather than substitutes for, conventional banks.
Keywords: Islamic banking; Middle East; Poisson regression; Tobit model (search for similar items in EconPapers)
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