Does investor attention to Islamic finance create spillover?. Issue 59 (19th December 2020)

• Record Type: Journal Article
• Authors: Jawadi, Fredj; Jawadi, Nabila; Idi Cheffou, Abdoulkarim
• Is Part Of: Applied economics. Volume 52:Issue 59(2020)
• Page Start: 6448
• Page End: 6452
• Publication Date: 2020-12-19
• Subjects: Investor attention -- Islamic finance -- spillover effects -- VAR modelling; C22 -- G15; Economics -- Periodicals; 330
• DOI: 10.1080/00036846.2020.1796912
• Languages: English
• ISSNs: 0003-6846

Abstract

ABSTRACT: This paper examines whether investor attention to Islamic finance creates spillover or not. The answer to this question is relevant to understanding whether the recent growth in Islamic Finance is due to an increase in fundamentals or is more to do with a market attention shock. We examine this question for three developed countries (France, the United Kingdom (the UK) and the United States of America (the USA)), four emerging countries (Saudi Arabia (SA)), the United Arab Emirates (the UAE), Pakistan and India), and the whole world. Our findings show that while the US and the UK lead investor attention to Islamic finance and spillover across the globe, India and Pakistan have experienced the greatest spillover from investor attention for both emerging and developed countries. Saudi Arabia and the UAE, on the other hand, play a somewhat minor role.