مجلة دفاتر اقتصادية
Volume 17, Numéro 1, Pages 55-68
2026-06-02

The Impact Of The Islamic Stock Market On Economic Growth- A Study Of The Dow Jones Islamic Market Index For A Group Of Countries During The Period 2010–2024

Authors : Nezai Fatima Zohra . Nezai Roua .

Abstract

Abstract: This study aims to measure and analyze the impact of the Islamic stock market on economic growth in Malaysia, Turkey, Japan, the UK, India, China, Canada, and Kuwait during the period from the third quarter of 2010 to the first quarter of 2024. A Panel-ARDL (Distributed Autoregressive Diagram) model, specifically designed for panel data, was used to examine the relationship between variables. The modeling results indicate that the Islamic stock market index positively influences the growth rates of the sampled economies in both the short and long term. Furthermore, a long-term equilibrium relationship was found between Islamic stock market indices and economic growth in Malaysia, Turkey, Japan, the UK, India, China, Canada, and Kuwait during the study period.

Keywords

Keywords: Islamic stock market ,economic growth ,Islamic dimension ,Dow Jones Islamic Index ,Panel-ARDL model