This study evaluates whether the development of Islamic banking influences macroeconomic efficiency. Thus, we contribute to the analysis of the relation between Islamic finance and economic growth by applying the stochastic frontier approach to estimate technical efficiency at the country level...

This paper raises two different, but related, questions: On the one hand, is there a link between international capital flows and economic growth? On the other hand, is there a link between international capital flows and development? We address the first question using a structural econometric...

Islamic finance is one of the most prominent phenomena over the last decade in the banking industry in the Middle-East and South-East Asia. It has recently spread in non-Muslim countries, such as the UK or the US. Globally, assets on the books of Shariah-compliant commercial banks have exceeded...

This paper addresses the relationship between remittances and home country investment in developing countries. It highlights, through both a theoretical model and an empirical analysis, the role of financial sector development (FSD) in the impact of remittances on home country investment. The...

Purpose -The purpose of this paper is to examine residual value risk modelling issues with a focus on automotive lease portfolios. Residual value risk is approached through a re-sampling technique that provides the probability density function of losses and VaR measures for credit portfolios....

When assessing the financial performance of Microfinance institutions, the current literature commonly uses balance sheets and income statements. In order to assess sources of cash generated, if any, we analyse the cash flow statements of the 30 largest MFIs that display audited reports between...

The current financial crisis has caused multi-billion dollar losses and broken a long period of strong and steady growth in the investment management industry. Despite the importance of strategic risks, current management practices tend to cope with them poorly, particularly when facing...

This paper is the first to analyze the credit risk of a microfinance institution based on the loan portfolio of a leading Maghrebian microfinance institution, both in terms of number of clients served and of portfolio size. This allows us to work with a proprietary data set of 1,144,770...