Talaa : Journal of Islamic Finance
Vol. 4 No. 1: June 2024

Comparative Analysis of Economic Growth in Countries Implementing Conventional Versus Islamic Financial Systems

Firdaus, Firdaus (Unknown)
Ilham, Muhammad (Unknown)
Asiam, Siti (Unknown)
Nurbaiti, Nurbaiti (Unknown)
Nasution, Yenni Samri Juliati (Unknown)



Article Info

Publish Date
11 Oct 2024

Abstract

This research is motivated by the global economic growth that moves volatile and the vulnerability of the conventional financial system to the recession that hit the last few decades and the Islamic financial system that is still not well implemented in Muslim-majority countries. This study analyzes the comparison of economic growth for countries that implement Islamic and conventional financial systems. The sample is 10 countries with the largest Islamic financial assets and 10 largest countries that implement conventional financial systems. Independent t-test/Mann Whitney test is used for hypothesis testing. The results of this study show that there is no difference in economic growth for countries that apply Islamic and conventional financial systems. This is due to the relatively small size of the Islamic financial ecosystem and its incomplete implementataion in many Muslim-majority countries.

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Journal Info

Abbrev

talaa

Publisher

Subject

Economics, Econometrics & Finance

Description

Talaa : Journal of Islamic Finance is presented as an effort to globalization of Islamic finance. The goal is to become a reputable and internationally recognized scientific journal. Talaa journal focuses on Islamic Finance studies and present developments through the publication of articles. ...