2020
DOI: 10.1002/ijfe.2115
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Exploring asymmetric relationship between Islamic banking development and economic growth in Pakistan: Fresh evidence from a non‐linear ARDL approach

Abstract: Islamic banking has gleaned considerable attention recently owing to its quantum growth. This study examines the asymmetric association between Islamic banking development (IBD) and economic growth (EG) in Pakistan that spans 2007Q1 to 2017Q4. We apply the non‐linear autoregressive distributed lag (NARDL) model of Shin et al., (2014). Our findings confirm co‐integration between IBD and EG in Pakistan. The positive (negative) shocks of IBD have significant positive (negative) association with EG in the long‐run… Show more

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Cited by 25 publications
(18 citation statements)
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References 96 publications
(140 reference statements)
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“…NARDL methods outperform conventional ARDL procedures in exploring cointegration using small data samples (Amin et al, 2022;Karim et al, 2022). Various studies have used this approach to explore outcome-dependent factors due to the contraction or enhancement of each explanatory factor (Bahmani-Oskooee and Ghodsi, 2017; Syed et al, 2021Syed et al, , 2022Ullah et al, 2021;Tang et al, 2022) The main model of Equation ( 3) is decomposed into asymmetric Equation ( 7) by substituting the pessimistic and optimistic sums of Equations ( 5) and ( 6).…”
Section: Methodology For Estimationmentioning
confidence: 99%
“…NARDL methods outperform conventional ARDL procedures in exploring cointegration using small data samples (Amin et al, 2022;Karim et al, 2022). Various studies have used this approach to explore outcome-dependent factors due to the contraction or enhancement of each explanatory factor (Bahmani-Oskooee and Ghodsi, 2017; Syed et al, 2021Syed et al, , 2022Ullah et al, 2021;Tang et al, 2022) The main model of Equation ( 3) is decomposed into asymmetric Equation ( 7) by substituting the pessimistic and optimistic sums of Equations ( 5) and ( 6).…”
Section: Methodology For Estimationmentioning
confidence: 99%
“…The summary statistics contain the mean, median, maximum, minimum, standard deviation, skewness kurtosis, and Jarque-Bera statistics. The values of the Jarque-Bera test were obtained by inferring that our model exhibits deviation from the normal distribution and thereby necessitates an asymmetric approach such as quantile-on-quantile for empirical estimation (Shahbaz et al 2017 ; Ullah et al 2021 ; Ullah et al 2020b ).…”
Section: Empirical Results and Discussionmentioning
confidence: 99%
“…In obtaining ARDL and NARDL methods procedures have been followed methodological representation given by Ullah et al (2021). Accordingly, the linear model for the cointegration relationship between economic growth and energy security is denoted in Eq.…”
Section: Methodsmentioning
confidence: 99%