Influence of Islamic Financial Corporations on Economic Activity: A Case Study of Orphans Fund Development Corporation in Jordan During the Period (2014-2021)
Bibliographic record
Abstract
This study aims to test the role of Islamic financial corporations on Jordan’s gross domestic product, a representative for economic activity. The Tamweel Amwal Al-Ittam (Orphans Fund Development Corporation, hereafter referred to as “the Corporation”) served as the case study for this research, investigated during the period of 2014-2021. Given the limited availability of annual reports on the Corporation’s website, quarterly data were gathered using E-Views software. Co-integration test and fully modified ordinary least squares (FMOLS) method to verify the study’s hypotheses. Results of the co-integration test indicated a long-term equilibrium relationship among the study variables, representing the Corporation’s investments in lands and buildings, Murabaha and AL-ijarah (Financial Leasing), investment in the stock portfolio, deposits in Islamic banks, total investment of the Corporation, and economic activity. FMOLS results showed that the Corporation’s investments in lands and buildings, Murabaha and AL-ijarah, and investment in the stock portfolio have positive and statistically significant effects on Jordan’s economic activity. The FMOLS results also confirmed that the total investment of the Corporation have a positive and statistically significant influence on Jordan’s economic activity. These results indicate that the Corporation’s real investment directly contributes to the interest of the country’s economic activity. The study recommends adopting policies that promote the growth of Islamic financial corporations. This can be achieved by providing proposals and offering financial and administrative support. It also highlights the importance of utilizing modern Islamic financing methods as an effective option for mitigating unemployment and inflation and providing employment opportunities that stimulate economic activity.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.001 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.002 |
| Science and technology studies | 0.001 | 0.001 |
| Scholarly communication | 0.001 | 0.001 |
| Open science | 0.000 | 0.001 |
| Research integrity | 0.001 | 0.001 |
| Insufficient payload (model declined to judge) | 0.002 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".