• xmlui.mirage2.page-structure.header.title
    • français
    • English
  • Help
  • Login
  • Language 
    • Français
    • English
View Item 
  •   BIRD Home
  • LEDa (UMR CNRS 8007, UMR IRD 260)
  • LEDa : Publications
  • View Item
  •   BIRD Home
  • LEDa (UMR CNRS 8007, UMR IRD 260)
  • LEDa : Publications
  • View Item
JavaScript is disabled for your browser. Some features of this site may not work without it.

Browse

BIRDResearch centres & CollectionsBy Issue DateAuthorsTitlesTypeThis CollectionBy Issue DateAuthorsTitlesType

My Account

LoginRegister

Statistics

Most Popular ItemsStatistics by CountryMost Popular Authors
Thumbnail

An old wine in new shari'a compliant bottles? A time-frequency wavelet analysis of the efficiency of monetary policy in dual financial systems

Ben Amar, Amine (2018), An old wine in new shari'a compliant bottles? A time-frequency wavelet analysis of the efficiency of monetary policy in dual financial systems, Economics Bulletin, 38, 1, p. 558-564

View/Open
EB-18-V38-I1-P53.pdf (870.7Kb)
Type
Article accepté pour publication ou publié
Date
2018
Journal name
Economics Bulletin
Volume
38
Number
1
Publisher
Economics bulletin
Pages
558-564
Metadata
Show full item record
Author(s)
Ben Amar, Amine
Abstract (EN)
Understanding the interrelationships between Islamic and conventional banks in dual financial systems is crucial for monetary policy decision makers. Using the wavelet coherence approach, this paper empirically investigates the dependency between the LIBOR and an Islamic benchmark rate, namely the IIBR (Islamic Interbank Benchmark Rate). This approach allows us to study the dynamics of the relationship between the LIBOR and the IIBR in the time-frequency space, then, to analyze to which extent Islamic financial institutions react to interest rate and, finally, to conclude whether the presence of Islamic banks enhance (or not) the efficiency of monetary policy. The result suggests not only that Islamic and conventional banks are alike, in terms of their business model, but also that Islamic banks react to changes in interest rates with some delay, which may affect the effectiveness of the monetary policy transmission mechanism.
Subjects / Keywords
Islamic banks; conventional banks; IIBR; LIBOR; wavelet coherence
JEL
E52 - Monetary Policy
G21 - Banks; Depository Institutions; Micro Finance Institutions; Mortgages

Related items

Showing items related by title and author.

  • Thumbnail
    Les canaux de transmission de la politique monétaire en finance non-conventionnelle 
    Ben Amar, Amine (2018-10-04) Thèse
  • Thumbnail
    New wine in old bottles? Antimicrobial resistance and the reinvention of a preventive veterinary medicine in France 
    Fortané, Nicolas (2017) Communication / Conférence
  • Thumbnail
    The Dynamic (In)efficiency of Monetary Policy by Committee 
    Riboni, Alessandro; Ruge-Murcia, Francesco (2008-08) Article accepté pour publication ou publié
  • Thumbnail
    "Increasing employability of young people through Policy changes in Educational Systems: The Mexican Model of Dual Formation " 
    Aragón, Edgar (2017-06) Document de travail / Working paper
  • Thumbnail
    The Bank Lending Channel Asymmetry and the Efficiency of the Polish Interest Rate Monetary Policy during Transition 
    Kierzenkowski, Rafal (2002-02) Communication / Conférence
Dauphine PSL Bibliothèque logo
Place du Maréchal de Lattre de Tassigny 75775 Paris Cedex 16
Phone: 01 44 05 40 94
Contact
Dauphine PSL logoEQUIS logoCreative Commons logo