| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8504 |
| DP8504 Of Religion and Redemption: Evidence from Default on Islamic Loans | |
| Steven Ongena; Lieven Baele; Moazzam Farooq | |
| 发表日期 | 2011-08-01 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | Do religious beliefs affect real economic decisions? We investigate this fundamental question by comparing default rates on conventional and Islamic loans using a comprehensive monthly dataset from Pakistan that follows more than 150,000 loans over the period 2006:04 to 2008:12. We find robust evidence that the default rate on Islamic loans is less than half the default rate on conventional loans. The evidence comes from a variety of specifications that contain pertinent combinations of time-varying borrower, loan contract and bank characteristics, and time, borrower, bank and borrower*bank fixed effects. For the same borrower taking both conventional and Islamic loans from the same bank, the hazard rate on Islamic loans drops to one fifth the hazard rate on conventional loans. Islamic loans are less likely to default during Ramadan and in big cities if the share of votes to religious-political parties increases, suggesting that religion--either through individual piousness or network effects--may play a role in determining loan default. |
| 主题 | Financial Economics |
| 关键词 | Duration analysis Islamic loans Loan default Religion |
| URL | https://cepr.org/publications/dp8504 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537341 |
| 推荐引用方式 GB/T 7714 | Steven Ongena,Lieven Baele,Moazzam Farooq. DP8504 Of Religion and Redemption: Evidence from Default on Islamic Loans. 2011. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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