Oil revenue and financial development: the role of institutions
Almost every second barrel of oil is produced in the OIC region. It is expected that the influx of oil revenue will help in developing the financial markets and the economies of these countries. So, the accelerated growth of Islamic financial industry at a double-digit rate annually has been attributed to the liquidity generated from the oil production. However, the recent adverse shocks emanating from the international oil market (quadruple drop in oil price) have cast scepticism about the sustainability of financial sectors in OIC oil-producing countries in general and the growth of Islamic banking industry, in particular. Slumping oil prices are expected to reduce the liquidity ...
Oil industry , Islamic banking industry , Performance , OIC countries , Feasible generalised least square estimator (FGLS)
Nagayev, R. (2017). Oil revenue and financial development: the role of institutions (Doctoral dissertation). INCEIF, Kuala Lumpur. Retrieved from https://ikr.inceif.org/handle/INCEIF/2422