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Islamic securities market-economic growth nexus: evidence from Indonesia

Abduh, Muhamad (2012) Islamic securities market-economic growth nexus: evidence from Indonesia. In: International Conference on Political Science, Public Admnistration and Peace Studies: Civil society, politics and development in ASEAN countries, 6-7 Sept. 2012, International Convention Center, Prince of Songkhla University, Hat Yai, Thailand.

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Abstract

The purpose of this study is to evaluate the dynamic effects of Islamic securities markets development on economic growth, particularly in Indonesia. The model estimation used to uncover the relationship is autoregressive distributed lag (ARDL). This study uses quarterly time series data [2000:Q1-2011:Q4] for the variable of Jakarta Islamic Index to represent Islamic securities and real GDP. The result shows that the relationship is following supply-leading view, which means that there is evidence of long run influence of Islamic securities markets development towards Indonesia economic growth but not vice versa. Hence, developing Islamic financial markets can be one way to boost the economy in Indonesia.

Item Type: Conference or Workshop Item (Full Paper)
Additional Information: 6777/25707
Uncontrolled Keywords: Stock markets, Islamic stock markets, economic growth, ARDL, Indonesia
Subjects: H Social Sciences > HC Economic History and Conditions
Kulliyyahs/Centres/Divisions/Institutes: Institute of Islamic Banking & Finance (IIiBF)
Depositing User: Dr Muhamad Abduh
Date Deposited: 12 Sep 2012 08:13
Last Modified: 12 Sep 2012 08:14
URI: http://irep.iium.edu.my/id/eprint/25707

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