Islamic finance (IF) holds significant potential for economic development and the enhancement of financial inclusion in Uzbekistan. Sukuk, as a key Islamic capital market instrument and Shari'ah-compliant investment alternative, plays an important role in this context. However, the demand for...

We study cluster-robust inference for binary response models. Inference based on the most commonly-used cluster-robust variance matrix estimator (CRVE) can be very unreliable. We study several alternatives. Conceptually the simplest of these, but also the most computationally demanding, involves...