ISLAMIC ENDOGENOUS MONEY: EVIDENCE FROM THE ISLAMIC BANKING SYSTEM IN INDONESIA AND MALAYSIA
This paper proposes a theoretical model of endogenous Islamic money and empirically analyses the endogeneity of Islamic money supply under fiat and fractional reserve systems. The causal relations between Islamic money and macro and financial variables are assessed using the autoregressive distribut...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Bank Indonesia
2021-08-01
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| Series: | Journal of Islamic Monetary Economics and Finance |
| Subjects: | |
| Online Access: | https://jimf-bi.org/index.php/JIMF/article/view/1351 |