Financial development and economic diversification in Qatar: does Islamic finance matters

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dc.contributor.authorFekri Ali Shawtari
dc.contributor.authorBilal Ahmad Elsalem
dc.contributor.authorMilad Abdelnabi Salem
dc.contributor.authorMohamed Eskandar Shah Mohd Rasid
dc.date.accessioned2026-07-02T02:59:38Z
dc.date.available2026-07-02T02:59:38Z
dc.date.issued2023
dc.description.abstractThe financial system plays an essential role in facilitating the intermediation process for economic growth. Policymakers stress on achieving a well-developed and regulated financial system to achieve economic development and resiliency. Using data from the State of Qatar, this paper aims to examine the impact of financial development indicator on economic growth; the impact of financial development indicator on hydrocarbon and nonhydrocarbon sector; the impact of Islamic banking on hydrocarbon and nonhydrocarbon economic growth. The research uses quarterly data from 2007 to 2019 and adopts autoregressive distributed lag cointegration techniques to test the long- and short-run dynamic relationship between various measures of financial development and economic growth. The results present evidence of long-term cointegration between overall financial development indicator and economic growth. Furthermore, the authors document the existence of long-term relationship between financial development and nonhydrocarbon sector. However, there is a lack of evidence on the long run relationship between financial development and the hydrocarbon sector. Notwithstanding, Islamic banking contributes to overall economic development, as well as to the nonhydrocarbon sector. This paper offers policymakers with insights to evaluate measures to diversify the economy. It also assists decision-makers in promoting Islamic finance, particularly to the banking sector as a vital contributor to economic growth. To the best of the author's knowledge, this paper is the first to evaluate financial development and economic growth for the case of Qatar in light of recent developments in Islamic finance.en_US
dc.identifier.citationShawtari, F. A., Elsalem, B. A., Salem, M. A., & Mohd Rasid, M. E. S. (2023). Financial development and economic diversification in Qatar: Does Islamic finance matters. Journal of Islamic Accounting and Business Research, 15(6), 959-987. https://doi.org/10.1108/JIABR-01-2022-0021en_US
dc.identifier.doihttps://doi.org/10.1108/JIABR-01-2022-0021
dc.identifier.issn1759-0817
dc.identifier.urihttps://ikr.inceif.edu.my/handle/INCEIF/4316
dc.languageEnglish
dc.language.isoengen_US
dc.publisherEmerald Publishing Limiteden_US
dc.rights© Emerald Publishing Limited
dc.sourceSEDONA
dc.subjectFinancial developmenten_US
dc.subjectEconomic growthen_US
dc.subjectState of Qataren_US
dc.subjectCointegrationen_US
dc.subjectARDLen_US
dc.subjectIslamic financeen_US
dc.subjectQataren_US
dc.subjectEconomic developmenten_US
dc.subjectHydrocarbon and nonhydrocarbonen_US
dc.titleFinancial development and economic diversification in Qatar: does Islamic finance mattersen_US
dc.typeJournal Articleen_US
ikr.doctypeScholarly Works
ikr.topic.maintopicIslamic financeen_US
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