Investigating the Effect of Providing Banking Facilities within the Framework of Islamic Contracts on the Value Added of Economic Sectors: Application of the Bayesian Vector Autoregression Model (BVAR)

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Nasr Esfahani Mohammad; GHAEMI ASL MEHDI; Zare Kordiani Ali Asghar

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Journal: Ma`rifat-e Eghtesad-e Islami Year:2019 | Volume:10 | Issue:1 (19) Page(s): 47-64

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Title

Investigating the Effect of Providing Banking Facilities within the Framework of Islamic Contracts on the Value Added of Economic Sectors: Application of the Bayesian Vector Autoregression Model (BVAR)

Author(s)

Nasr Esfahani Mohammad | GHAEMI ASL MEHDI | Zare Kordiani Ali Asghar | Issue Writer Certificate

Keywords

Banking contractsQ1

Islamic bankingQ2

Islamic contractsQ2

Value added of economic sectorsQ1

Bayesian vector autoregression modelQ1

Abstract

In the interest-free banking system, Islamic contracts, due to their operational nature and interactivity with other economic sectors, can help guide and organize private sectors of the economy. This paper studies the effect of banking facilities within the framework of the Islamic contracts of Ju'alah, installment plan, legal partnerships, civil participation and Mudharabah on the value added of housing, industry and mining sectors. To this end, using the Bayesian vector autoregression model, the effect of banking facilities using the aforesaid contracts on the value added of the above mentioned sectors has been investigated by considering the variables of the general level of prices, exchange rate and oil revenue during the period of 1384-1394. Based on the results of the study, banking facilities did not have a significant impact on housing, industry and mining sectors within the framework of a legal partnership agreement; however, the facilities of Ju'alah, civil partnership, installment plan and Mudharabah had a positive and meaningful effect on all sectors of economy. The necessity of reforming the framework of legal participation facilities, strengthening of the facilities of Ju'alah and civil participation in housing, industry and mining sectors respectively, strengthening of Mudh arabah facilities and installment plans in these two sectors are among the implications and suggestions of this research.

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APA: Copy

Nasr Esfahani, Mohammad, GHAEMI ASL, MEHDI, & Zare Kordiani, Ali Asghar. (2019). Investigating the Effect of Providing Banking Facilities within the Framework of Islamic Contracts on the Value Added of Economic Sectors: Application of the Bayesian Vector Autoregression Model (BVAR). MARIFAT E EGHTESADI E ISLAMI, 10(1 (19) ), 47-64. SID. https://sid.ir/paper/362790/en

Vancouver: Copy

Nasr Esfahani Mohammad, GHAEMI ASL MEHDI, Zare Kordiani Ali Asghar. Investigating the Effect of Providing Banking Facilities within the Framework of Islamic Contracts on the Value Added of Economic Sectors: Application of the Bayesian Vector Autoregression Model (BVAR). MARIFAT E EGHTESADI E ISLAMI[Internet]. 2019;10(1 (19) ):47-64. Available from: https://sid.ir/paper/362790/en

IEEE: Copy

Mohammad Nasr Esfahani, MEHDI GHAEMI ASL, and Ali Asghar Zare Kordiani, “Investigating the Effect of Providing Banking Facilities within the Framework of Islamic Contracts on the Value Added of Economic Sectors: Application of the Bayesian Vector Autoregression Model (BVAR),” MARIFAT E EGHTESADI E ISLAMI, vol. 10, no. 1 (19) , pp. 47–64, 2019, [Online]. Available: https://sid.ir/paper/362790/en

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