Oil price volatility, Islamic financial development and economic growth in Gulf Cooperation Council (GCC) countries

被引：40

作者：

Gazdar, Kaouthar ^{[1
,2
]}

Hassan, M. Kabir ^{[3
]}

Safa, M. Faisal ^{[4
]}

Grassa, Rihab ^{[5
,6
]}

机构：

[1] Univ Umm Al Quraa KSA, Coll Islamic Econ & Finance, Mecca, Saudi Arabia

[2] LEFA IHEC Carthage, Carthage, Tunisia

[3] Univ New Orleans, Dept Econ & Finance, New Orleans, LA 70148 USA

[4] McKendree Univ, Sch Business, 701 Coll Rd, Lebanon, IL 62254 USA

[5] Univ Manouba, ISCAE, Manouba, Tunisia

[6] UMS Univ, Dubai, U Arab Emirates

来源：

BORSA ISTANBUL REVIEW | 2019年 / 19卷 / 03期

关键词：

Islamic financial development; Oil volatility; Growth volatility; BUSINESS CYCLES; TRADE OPENNESS; POLICY; INFLATION; IMPACT; LAW; DETERMINANTS; EXPENDITURE; UNCERTAINTY; INVESTMENT;

D O I：

10.1016/j.bir.2018.07.005

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper investigates the relationship between oil terms of trade growth volatility and economic growth in the GCC countries. Further it explores the possible effect of Islamic financial development on such relationship. By analyzing a sample of five GCC countries over the period of 1996-2016, we find empirical evidence of a significant positive relationship between oil terms of trade growth volatility and economic growth. Our results also indicate that the effect of oil terms of trade growth volatility on growth is reinforced by the development of Islamic financial system. Copyright (C) 2018, Borsa Istanbul Anonim Sirketi. Production and hosting by Elsevier B.V.

引用

页码：197 / 206

页数：10

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