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Does financial development cause economic growth? Time-series evidence from 16 countries
Abstract This paper conducts causality tests between financial development and real GDP using recently developed time series techniques. Our results provide little support to the view that finance isExpand
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The Endogeneity of Money: Evidence from the G7
Economists have frequently argued that the money supply is endogenously determined. However, monetary regimes differ in important institutional respects and it may be that endogeneity may be true forExpand
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Ethical Investment Revisited
The first Dow Jones Islamic market index (DJIMI) was launched in February 1999. A comprehensive study of the performance of each Islamic index that accounts for the effects of industry, size, andExpand
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Islamic Investment : Evidence From Dow Jones and FTSE Indices
Despite the increasing attention to Islamic investment, the empirical studies on Islamic indices and/or funds are scarce. Due to increased monitoring costs, availability of a smaller investmentExpand
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Explaining differences in the domestic savings ratio across countries: A panel data study
This article seeks to analyse the major determinants of differences in the domestic savings ratio between countries using panel data for 62 countries over the period 1967—95. A basic distinction isExpand
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Operational Efficiency in Islamic Banking : The Sudanese Experience
In this paper, we estimate the operational efficiency in 17 Sudanese (Islamic) banks between 1990-2000. We adopt the stochastic cost frontier approach. Our findings show that Islamic banks do notExpand
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International capital mobility in OECD countries: The Feldstein-Horioka 'puzzle' revisited
Abstract We utilise the most recent time series techniques of dynamic OLS and examine international capital mobility across 23 OECD countries. We adopt the saving–investment approach where theExpand
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The demand for money: Total transactions as the scale variable
Abstract We examine the impact of a direct measure of total transactions in the UK economy on the demand for money by estimating three models (two with proxies for transactions) using the dynamic OLSExpand
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Finance and Growth in Egypt
1 I wish to thank Professors Gouda Abdel-Khalek, Rolf Luders and A.P. Thirlwall for their constructive discussions and comments. I also wish to thank participants at the workshop organised by EPICExpand
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