What drives the European islamic market: is it the conventional market or the other islamic markets ?

Fatima Touati and Abul Masih

MPRA Paper from University Library of Munich, Germany

Abstract: The objective of this research is to identify the influences between Islamic index in Europe, and its counterpart in Asia, whether the requirement of Shariah (Islamic) compliance of Islamic indexes will tend to get the indexes closer by being influential on each other, or other indexes such as, the conventional regional index and/or conventional interest rate such as LIBOR, will have more influence on the European Islamic index. To answer this question, we applied our study to the following indexes, European Islamic, Asian Islamic, Europe conventional, US conventional, and LIBOR. The standard time series techniques have been employed for the analysis. Our findings tend to indicate that European Islamic index will be influenced more by the movements in LIBOR and conventional markets, rather than the other Islamic indexes. For the policy makers and investors, our results are useful to predict movements of European Islamic index.

Keywords: European Islamic market; conventional market; LIBOR (search for similar items in EconPapers)
JEL-codes: C22 C58 G15 (search for similar items in EconPapers)
Date: 2018-11-18
New Economics Papers: this item is included in nep-hme, nep-isf and nep-sea
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:102911

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