the Impact of Islamic Financing Instruments on the Volume of Iran's International Trade Using the Taylor Rule Quantile Method

Articles in Press

Document Type : Original Article

Authors

1 PhD student, Department of Economics, Tabriz Branch, Islamic Azad University, Tabriz,

2 Department of Economics, Tabriz Branch, Islamic Azad University, Tabriz, Iran

3 Assistant professor, Department of Economics, Tabriz Branch, Islamic Azad University, Tabriz, Iran

4 Associate professor, Department of Economics, Tabriz Branch, Islamic Azad University, Tabriz, Iran

Abstract

The aim of this study is to investigate the effect of Islamic financing instruments on the volume of international trade in Iran with the Taylor rule approach during the period 2011-2021 using the quantile regression method. The results of the model estimation show that the relationship between forward facilities and the volume of international trade with one lag is statistically significant and the sign of the coefficients is negative in all deciles. The relationship between the inflation rate and the volume of international trade with one lag is statistically significant and the sign of the coefficients is negative in the first, second and eighth deciles and positive in the remaining deciles. The relationship between installment sales facilities on the volume of international trade with one lag is statistically significant and the sign of the coefficients is positive in the first, fifth, sixth, seventh, eighth and ninth deciles. The effect between Mudarabah facilities and the volume of international trade is statistically significant with a lag, and the sign of the coefficients is negative except in the eighth and ninth deciles. The results also show that with the decrease in participation bonds, the volume of international trade increases. On the other hand, the relationship between Sukuk and the volume of international trade is statistically significant with a lag, and the sign of the coefficients is negative in all deciles except the first and eighth deciles. Based on the results obtained during the period under study,

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Main Subjects

Journal of International Business Administration

Articles in Press, Accepted Manuscript
Available Online from 01 March 2025

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History

  • Receive Date: 06 January 2025
  • Revise Date: 10 February 2025
  • Accept Date: 01 March 2025

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