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Empirical Evidence on the Relation Between Progress on Sustainable Development Goals and Adaptation of Islamic Finance

Empirical Evidence on the Relation Between Progress on Sustainable Development Goals and Adaptation of Islamic Finance

Dogus Emin, Aysegul Aytac Emin
Copyright: © 2023 |Pages: 17
ISBN13: 9781668495032|ISBN10: 1668495031|ISBN13 Softcover: 9781668495049|EISBN13: 9781668495056
DOI: 10.4018/978-1-6684-9503-2.ch004
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MLA

Emin, Dogus, and Aysegul Aytac Emin. "Empirical Evidence on the Relation Between Progress on Sustainable Development Goals and Adaptation of Islamic Finance." Climate Change Management and Social Innovations for Sustainable Global Organization, edited by Sumita Dave, et al., IGI Global, 2023, pp. 47-63. https://doi.org/10.4018/978-1-6684-9503-2.ch004

APA

Emin, D. & Emin, A. A. (2023). Empirical Evidence on the Relation Between Progress on Sustainable Development Goals and Adaptation of Islamic Finance. In S. Dave, M. Sainy, D. Sharma, & A. Singh (Eds.), Climate Change Management and Social Innovations for Sustainable Global Organization (pp. 47-63). IGI Global. https://doi.org/10.4018/978-1-6684-9503-2.ch004

Chicago

Emin, Dogus, and Aysegul Aytac Emin. "Empirical Evidence on the Relation Between Progress on Sustainable Development Goals and Adaptation of Islamic Finance." In Climate Change Management and Social Innovations for Sustainable Global Organization, edited by Sumita Dave, et al., 47-63. Hershey, PA: IGI Global, 2023. https://doi.org/10.4018/978-1-6684-9503-2.ch004

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Abstract

In this study, the authors aim to investigate the dynamic correlation and lead/lag relation between the progress of the countries on the Sustainable Development Goals (SDGs) and adaptation of Islamic finance. As the proxy of progress level on SDGs, SDG Index of the Bertelsmann Stiftung and the Sustainable Development Solutions Network (SDSN) are used. To be able to determine the adaptation level of Islamic finance, Islamic Finance Adaptation (IFA) Index is introduced. The data set is formed with top eight countries according to Islamic finance assets and top eight countries according to the SDG Index for the period of 2012 and 2021. To assess the relation between progress level on Sustainable Development Goals (SDG Index) and Islamic finance adaptation level (IFA Index), the Dynamic Conditional Correlation Model (DCC Model) of Engle and Sheppard and Geweke Feedback Measure of Geweke are used.

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