伊斯兰银行的存款回报率和传统银行的存款利息之间有因果关系吗？来自巴林金融市场的因果关系证据

Business and Economic Horizons Pub Date : 2018-09-24 DOI:10.15208/BEH.2018.61

A. Samad

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引用次数: 7

摘要

与传统银行对存款支付利息不同，伊斯兰银行不向储户支付利息。他们付给存款人的钱叫做存款人的回报率。伊斯兰银行的存款回报率是否遵循传统银行的利率?本文运用VEC模型实证研究了传统银行利率与伊斯兰银行收益率之间的因果关系和因果方向。VAR格兰杰因果关系/块外生性沃尔德检验的结果未能拒绝伊斯兰银行收益率与传统银行利率之间双向因果关系的零假设。两两格兰杰因果关系也证实了相同的结果。这表明，在巴林金融市场上，伊斯兰银行的收益率与传统银行的利率并不是相互独立的，而是相互追随的。

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Is there any causality between Islamic banks’ return on depositors and conventional banks’ deposit interest: Evidence of causality from Bahrain’s financial market

Unlike conventional banks' interest payment on deposits, Islamic banks do not pay interest to depositors. What they pay to depositors is called the rate of return to depositors. Does the rate of return of Islamic banks on deposits follow conventional banks' interest rates? This paper empirically investigates the relationship of causality and the causal direction between conventional banks' interest rate and Islamic banks' return applying VEC model. The results of the VAR Granger Causality/Block Exogeneity Wald Tests fail to reject the null hypothesis of bidirectional causality between Islamic banks' rate of return and conventional banks' interest. The pairwise Granger causality also confirms the same results. This suggests that Islamic banks' rate of return and the conventional banks' interest rate are not independent of each other rather they follow each other in the Bahrain financial market.

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Business and Economic Horizons ECONOMICS-

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期刊介绍： The Business and Economic Horizons (BEH) is an international peer-reviewed journal that publishes high quality theoretical, empirical, and review papers covering the broad spectrum of research in areas of economics, business, management, and finance. The journal aim is to bridge the gap between the theory and the observed data in these constantly developing domains. BEH Editorial Board welcomes the high-quality original research articles and review papers that verify the well-grounded and the emerging theories by employing the econometric, statistical methods or other relevant empirical methods in theoretical and applied economic analysis. BEH does not discriminate articles utilizing the non-mainstream approaches such as experimental research, institutional analysis, other variations of heterodox and developmental economic studies. Therefore, the submissions in any field of micro- and macroeconomics, business ethics, economic policy or finance are appropriate for this journal. We hope, the provided contributions will help to understand the contemporary challenges faced by the private and public sector and will establish an international forum of empirical research.