This study examines market co-movements in Islamic and mainstream equity markets across different regions in order to discover contagion during 9 major crises and to measure integration between markets. Using wavelet decomposition to unveil the multi-horizon nature of co-movement, we find that...

This paper makes an attempt to analyse the causality between Islamic stock market and three macroeconomic variables in the case of Malaysia. Although there are numerous studies investigating relationship between conventional stock market and macroeconomic fundamentals, there is a certain gap in...

Understanding the empirical relationship between the exchange rates, interest rates and stock prices are important and useful to the policy makers, professional investors and academics. Although the scholars and practitioners have studied the subject extensively, few empirical studies are...

The primary aim of this study is to investigate the causal chain among output, money, prices, exchange rate and inflation in the context of Nigerian economy following the global economic crisis that hit many countries. The data used are from 1970 to 2012. The methodology employed uses several...

Econometricians had been blamed for the financial crises that occurred due to their giving a ‘false hope’ to investors and policy makers using untested theoretical assumptions. Therefore, econometricians had been challenged to reform their studies by grounding them more solidly on reality....

The increase in household debts in Malaysia which has escalated to about 86% of total GDP is deemed to be at worrying stage as it may in turn trigger another financial crisis. Thus, the aim of this study is to examine the increase in household debts and its relation to GDP, interest rate and...

This paper makes an attempt to investigate the impact of selected macroeconomic variables on the level of deposits in the Islamic banking system. Malaysia is used as a case study. We apply ‘Auto – Regressive Distributive Lag’ model which has taken care of a major limitation of the...

Objective: The objective of the article is to empirically explore the effects of actual, expected, and unexpected inflation on conventional and Islamic stock markets in Indonesia. Research Design & Methods: In the first stage, an auto-regressive integrated moving average (ARIMA) model is...

This paper examines the time-varying conditional correlations between seventeen metal future markets and Malaysian Islāmic bonds. We apply twelve six variate dynamic conditional correlation (DCC) FIGARCH models in order to capture potential contagion effects between the markets for the period...

The financial sector plays a vital role in the expansion and growth of an economy. The essential factor for the financial growth of a country is a stable banking system. Over the past few years, Islamic banking industry of Pakistan has grown substantially, however, it faces many challenges...