nep-isf New Economics Papers
on Islamic Finance
Issue of 2021‒10‒18
five papers chosen by
Mohamed Mohamed Tolba Said

  1. Role of Client Relationship Marketing in the Banking Sector of Pakistan By Mohsin, Ali; Karim, Emadul
  2. A Brief Comparison of Most Prominent Crowdfunding Platforms in Turkey and USA By Uzuntepe, Beren
  3. A Unified Framework to Estimate Macroeconomic Stars By Saeed Zaman
  4. The granular economy of Kazakhstan By Jozef Konings; Galiya Sagyndykova; Venkat Subramanian; Astrid Volckaert
  5. Reading the economic history of Aghanistan By Roy, Tirthankar

  1. By: Mohsin, Ali; Karim, Emadul
    Abstract: This Study aims to determine the Role of Client Relationship Marketing in the Banking Sector of Pakistan. In today world the only organization that can compete in the Market if they rely on Relationship Marketing through which they can have better understanding of the Customer. Relationship Marketing helps the organization to understand the needs, wants and demands of the Customer and try to fulfill each demand of the Customer. Through Relationship Marketing the level of Customer satisfaction is increase and organization easily gain the Customer Loyalty. Organization has the upper edge on their competitor if they successfully implement the strategies of the Relationship Marketing. A proper implementation of the Client Relationship Marketing leads to achieve a higher level of performance. Relationship Marketing helps the organization to especially focus on the Customer thus improve the overall performance. The Sample Derived from the population for this study comprised of 325 respondents pertaining to the Retail Banking of Pakistan. The Close-Ended questionnaire was used to collect data from the respondents such as Bankers and Customers. Client relationship Marketing have a significant impact on the service quality which helps us to achieve customer trust and customer satisfaction. Once the organization win the Customer Trust and satisfied their customer through the level of Service Quality thus, we can achieve the Customer Loyalty. Therefore, it is recommended that organization can understand the importance of the Client Relationship Marketing and implement this to increase the Organization Performance by achieving the Customer Loyalty.
    Keywords: Relationship Marketing; Service Quality; Customer Satisfaction; Customer Trust and Customer Loyalty.
    JEL: G2 M31
    Date: 2020–08–10
  2. By: Uzuntepe, Beren
    Abstract: Emerging and gaining significance due to the widespread use of the Internet and the power of social media, crowdfunding, via crowdfunding platforms, provides entrepreneurs with creative business ideas with the opportunity to reach extensive masses and to be able to directly access the financial resources that their projects require. Even though the interest in crowdfunding rises, the literature seems to lack enough research about these platforms. Addressing the platforms that bring together the entrepreneurs and the backers, this research aims to compare the reward-based crowdfunding platforms operating in Turkey with the international crowdfunding platforms. Containing the categories of technology and movie/video, this research discusses the differences between the most prominent crowdfunding platforms in the two countries. The findings of the research constitute importance due to the fact that it shows the way to the entrepreneurs, crowdfunding platforms, and backers while making their decisions, encourages participation in the campaigns, and sheds light on other studies about the subject.
    Keywords: Keywords: Crowdfunding, Entrepreneurial Finance, Online Platform, Reward Based Crowdfunding, KIA
    JEL: G2 G24 G3 G32 L2 L26 M1 M13 O3 O30 O34 P3 P34 P35
    Date: 2021
  3. By: Saeed Zaman
    Abstract: We develop a flexible semi-structural time-series model to estimate jointly several macroeconomic "stars" — i.e., unobserved long-run equilibrium levels of output (and growth rate of output), the unemployment rate, the real rate of interest, productivity growth, the price inflation, and wage inflation. The ingredients of the model are in part motivated by economic theory and in part by the empirical features necessitated by the changing economic environment. Following the recent literature on inflation and interest rate modeling, we explicitly model the links between long-run survey expectations and stars to improve the stars' econometric estimation. Our approach permits time variation in the relationships between various components, including time variation in error variances. To tractably estimate the large multivariate model, we use a recently developed precision sampler that relies on Bayesian methods. The by-products of this approach are the time-varying estimates of the wage and price Phillips curves, and the pass-through between prices and wages, both of which provide new insights into these empirical relationships' instability in US data. Generally, the contours of the stars echo those documented elsewhere in the literature — estimated using smaller models — but at times the estimates of stars are different, and these differences can matter for policy. Furthermore, our estimates of the stars are among the most precise. Lastly, we document the competitive real-time forecasting properties of the model and, separately, the usefulness of stars' estimates if they were used as steady-state values in external models.
    Keywords: state-space model; Bayesian analysis; time-varying parameters; natural rates; survey expectations; COVID-19
    JEL: C5 E24 E31 E4 O4
    Date: 2021–10–14
  4. By: Jozef Konings (Nazarbayev University, Graduate School of Business); Galiya Sagyndykova (Nazarbayev University, Department of Economics); Venkat Subramanian (Nazarbayev University, Graduate School of Business); Astrid Volckaert (KU Leuven, Faculteit Economie en Bedrijfswetenschappen, Vlaams Instituut voor Economie en Samenleving (VIVES))
    Abstract: This paper analyzes the importance of idiosyncratic firm specific shocks for explaining macroeconomic fluctuations in an emerging economy. To this end, we use detailed quarterly firm level data to document that the firm size distribution is fat-tailed and that idiosyncratic shocks of the largest 30 firms appear to explain nearly 80% of the growth in aggregate total factor productivity. This confirms earlier research for the U.S. of the "granular hypothesis" (Gabaix, 2011). Thus individual firm shocks do not average out in the aggregate as is assumed in most of the macroeconomic literature, instead, macroeconomic questions can be answered by analyzing the behavior of the largest firms.
    Keywords: granularity, firm heterogeneity, aggregate fluctuations, Total Factor Productivity, transitional economies
    JEL: D24 E23 E32 L16 L25 P27
    Date: 2021–10
  5. By: Roy, Tirthankar
    Abstract: Twentieth-century Afghanistan offers a lesson for the historian of comparative economic development. Two conditions help to understand Afghan history better, resource poverty and the absence of European colonial rule. In a resource-poor region, the possibility of rapid economic change depends to a great extent on the capability and stability of the states; at the same time, attempts to create strong centres of power with a weak tax base can generate debilitating conflicts. European colonialists in some cases managed to overcome the dilemma. In the absence of colonialism, old elites and old rivalries survived and intensified the conflict. These two features appeared in the histories of many of the world’s poor regions. They shaped the process of economic and political change in Afghanistan with great force.
    JEL: N45 N55 O10 O53 P16
    Date: 2020–10

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