Financial Intermediation, Development, and Access to Finance in an Islamic Environment

Charilaos Mertzanis ()
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Charilaos Mertzanis: American University in Cairo

Chapter Chapter 2 in Financial Inclusion and Poverty Alleviation, 2017, pp 41-79 from Palgrave Macmillan

Abstract: Abstract Micro survey data from 36,135 firms in 41 Islamic countries are used to address two questions: first, what are the firm-specific and country-level predictors of financing constraints of firms and, second, whether there are differences between low- and high-income Islamic countries. The firm-specific characteristics are shown to predict financing constraints of firms. Differences are documented between low- and high-income Islamic countries. Firm age, size, sector of activity, export and ownership status of firms appear to be robust predictors of access to finance in low-income countries, whereas only a few of these determinants are found to be significant in high-income Islamic countries. Finally, country-level indicators that measure economic development, income distribution, and financial infrastructure also affect the role of firm-specific characteristics on financial constraints.

Keywords: Financial intermediation; Access to finance; Institutions; Islamic countries (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psibcp:978-3-319-69799-4_2

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DOI: 10.1007/978-3-319-69799-4_2

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