Sukuk are considered as an alternative instrument in Islamic finance. However, the structures and provisions make sukuk dissimilar to bonds. Literature is having difficulty in the comparison between the performance/integration of the sukuk and bonds issued at the same time. To fill the existing...

This study investigates the return spillovers and volatility spillovers from developed markets (e.g., Europe, Japan, and the US) into the financial markets of selected emerging countries in Asia and the Middle East and North Africa (MENA) region. Based on constant and trend spillover models, we...

We estimate the amount of income and consumption smoothing (risk sharing) between OECD countries during the period 1970{2003 with a particular focus on EU and EMU countries. Income smoothing from international factor income has increased in the EU and, in particular, the EMU but not in the...