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Islamic Finance: A Bulwark against Crisis?
Dr. Hatem Derbel, Neila Dammak, Ali Chkir
Volume 12 Issue 11
Global Journal of Human-Social Science
Volume 12 Issue 11
Global Journal of Human-Social Science
The aim of this paper is to show that the Islamic finance is more stable than the conventional finance constituting, thus, a means to reduce the impact of financial crisis. Using a VAR model for the financial indexes of France (SBF250), United States (DOW JONES), United Kingdom (FTSE100), Indonesia (JAKISLM) and Saudi Arabia (TADAWUL) covering the period (26/02/2007- 12/20/2010), we show that the effect of a shock on the American market during the period of crisis is negatively transmitted on all other markets, but with a small extent on the market using the method of Islamic financing.
