TY - GEN
T1 - Analysis of sukuk market development in OIC countries
AU - Rofifa, Jelita Sarah
AU - Aswin, Tika Arundina
N1 - Publisher Copyright:
Copyright © 2018 International Business Information Management Association (IBIMA).
PY - 2018
Y1 - 2018
N2 - The objective of this research is to determine the effect of macroeconomic factors on sukuk market development in the Organization of Islamic Cooperation (OIC) countries, which is the largest issuer of sukuk market globally. Using Panel data from 10 OIC countries for the period 2006-2016. The size of the sukuk market is measured by the amount of outstanding sukuk to gross domestic product (GDP). The results showed that macroeconomic factors that affecting the development of sukuk market in OIC countries are the size of economic, the stage of economic development, openness of economic, and exchange rate variability. When the macroeconomic conditions are stable then this will affect the issuers' decision to issue sukuk. A well-developed sukuk market can be an alternative source of financing while at the same time enhancing a country's financial resilience by balancing high dependence on the banking sector with fixed income sector.
AB - The objective of this research is to determine the effect of macroeconomic factors on sukuk market development in the Organization of Islamic Cooperation (OIC) countries, which is the largest issuer of sukuk market globally. Using Panel data from 10 OIC countries for the period 2006-2016. The size of the sukuk market is measured by the amount of outstanding sukuk to gross domestic product (GDP). The results showed that macroeconomic factors that affecting the development of sukuk market in OIC countries are the size of economic, the stage of economic development, openness of economic, and exchange rate variability. When the macroeconomic conditions are stable then this will affect the issuers' decision to issue sukuk. A well-developed sukuk market can be an alternative source of financing while at the same time enhancing a country's financial resilience by balancing high dependence on the banking sector with fixed income sector.
KW - Macroeconomic factors
KW - Organization of Islamic Cooperation
KW - Panel Data
KW - Sukuk Market Development
UR - http://www.scopus.com/inward/record.url?scp=85063024923&partnerID=8YFLogxK
M3 - Conference contribution
AN - SCOPUS:85063024923
T3 - Proceedings of the 32nd International Business Information Management Association Conference, IBIMA 2018 - Vision 2020: Sustainable Economic Development and Application of Innovation Management from Regional expansion to Global Growth
SP - 4867
EP - 4878
BT - Proceedings of the 32nd International Business Information Management Association Conference, IBIMA 2018 - Vision 2020
A2 - Soliman, Khalid S.
PB - International Business Information Management Association, IBIMA
T2 - 32nd International Business Information Management Association Conference, IBIMA 2018
Y2 - 15 November 2018 through 16 November 2018
ER -
