We use cookies to ensure that we give you the best experience on our website. By continuing to browse this repository, you give consent for essential cookies to be used. You can read more about our Privacy and Cookie Policy.

Durham Research Online
You are in:

Exploring international economic integration through Sukuk market connectivity : a network perspective.

Asutay, M. and Hakim, A. (2018) 'Exploring international economic integration through Sukuk market connectivity : a network perspective.', Research in international business and finance., 46 . pp. 77-94.


This paper aims to measure the degree of international financial and economic integration through sukuk markets among the eight sukuk issuing countries for the period of 2004–2014. In empirically modelling the study, the ‘standard perfect financial integration indicators’ (SPFII) developed by Arribas et al. (2011) are utilised. In doing so, the degree of financial openness of the sampled countries and the degree of the regularity of the financial connections between the sampled countries are measured. The results show that countries such as the UK, Saudi Arabia, Qatar, Bahrain, and the UAE seem to be more integrated in their individual measures, which were found to be more integrated in comparison to the other countries in the sample. However, the global indicators suggest that the entire economy of the sample is not in a state of stable integration, unlike as is suggested by the sukuk relationship.

Item Type:Article
Full text:(AM) Accepted Manuscript
First Live Deposit - 23 October 2017
Download PDF
Publisher Web site:
Publisher statement:© 2017 This manuscript version is made available under the CC-BY-NC-ND 4.0 license
Record Created:23 Oct 2017 09:58
Last Modified:28 Apr 2019 00:58

Social bookmarking: del.icio.usConnoteaBibSonomyCiteULikeFacebookTwitterExport: EndNote, Zotero | BibTex
Look up in GoogleScholar | Find in a UK Library