INTEREST RATES AND CURRENCIES EFFECTS ON ISLAMIC AND CONVENTIONAL BONDS
Bond markets have not been well developed in emerging countries. Realizing its important role, especially after the 1997 crises and the islamic economics development, emerging countries have started to develop such markets. This research examines the effect of interest rates and currencies on Islami...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Universitas Islam Indonesia
2011-09-01
|
| Series: | Economic Journal of Emerging Markets |
| Online Access: | http://uiistage.openjournaltheme.com/3310/index.php/JEP/article/view/2301 |
| _version_ | 1798001760991707136 |
|---|---|
| author | Ghazali Syamni Husaini Husaini |
| author_facet | Ghazali Syamni Husaini Husaini |
| author_sort | Ghazali Syamni |
| collection | DOAJ |
| description | Bond markets have not been well developed in emerging countries. Realizing its important role, especially after the 1997 crises and the islamic economics development, emerging countries have started to develop such markets. This research examines the effect of interest rates and currencies on Islamic and conventional bonds in Bursa Malaysia. The analysis on Islamic bonds shows that interest rates and currencies do not influence Islamic bonds, which supports the prohibition of interest in Islam. The analysis on conventional bonds finds evidence that both interest rates and currencies affect conventional bond. It also finds evidence of a negative association between interest rates and a conventional bond.
Keywords: Interest rate, currency, conventional bond, Islamic bond
JEL classification numbers: G11, G12, G15
|
| first_indexed | 2024-04-11T11:41:17Z |
| format | Article |
| id | doaj.art-7ee03f3a17b84bbdacda15e1fbf150e1 |
| institution | Directory Open Access Journal |
| issn | 2086-3128 2502-180X |
| language | English |
| last_indexed | 2024-04-11T11:41:17Z |
| publishDate | 2011-09-01 |
| publisher | Universitas Islam Indonesia |
| record_format | Article |
| series | Economic Journal of Emerging Markets |
| spelling | doaj.art-7ee03f3a17b84bbdacda15e1fbf150e12022-12-22T04:25:48ZengUniversitas Islam IndonesiaEconomic Journal of Emerging Markets2086-31282502-180X2011-09-0122INTEREST RATES AND CURRENCIES EFFECTS ON ISLAMIC AND CONVENTIONAL BONDSGhazali SyamniHusaini HusainiBond markets have not been well developed in emerging countries. Realizing its important role, especially after the 1997 crises and the islamic economics development, emerging countries have started to develop such markets. This research examines the effect of interest rates and currencies on Islamic and conventional bonds in Bursa Malaysia. The analysis on Islamic bonds shows that interest rates and currencies do not influence Islamic bonds, which supports the prohibition of interest in Islam. The analysis on conventional bonds finds evidence that both interest rates and currencies affect conventional bond. It also finds evidence of a negative association between interest rates and a conventional bond. Keywords: Interest rate, currency, conventional bond, Islamic bond JEL classification numbers: G11, G12, G15 http://uiistage.openjournaltheme.com/3310/index.php/JEP/article/view/2301 |
| spellingShingle | Ghazali Syamni Husaini Husaini INTEREST RATES AND CURRENCIES EFFECTS ON ISLAMIC AND CONVENTIONAL BONDS Economic Journal of Emerging Markets |
| title | INTEREST RATES AND CURRENCIES EFFECTS ON ISLAMIC AND CONVENTIONAL BONDS |
| title_full | INTEREST RATES AND CURRENCIES EFFECTS ON ISLAMIC AND CONVENTIONAL BONDS |
| title_fullStr | INTEREST RATES AND CURRENCIES EFFECTS ON ISLAMIC AND CONVENTIONAL BONDS |
| title_full_unstemmed | INTEREST RATES AND CURRENCIES EFFECTS ON ISLAMIC AND CONVENTIONAL BONDS |
| title_short | INTEREST RATES AND CURRENCIES EFFECTS ON ISLAMIC AND CONVENTIONAL BONDS |
| title_sort | interest rates and currencies effects on islamic and conventional bonds |
| url | http://uiistage.openjournaltheme.com/3310/index.php/JEP/article/view/2301 |
| work_keys_str_mv | AT ghazalisyamni interestratesandcurrencieseffectsonislamicandconventionalbonds AT husainihusaini interestratesandcurrencieseffectsonislamicandconventionalbonds |