This paper investigates the cyclicality of Islamic banking relative to conventional banking. It examines whether loan growth and profitability have a different sensitivity to economic growth for Islamic banks and for conventional banks. We used panel data from 525 banks covering 16 countries with dual banking systems spanning the period from 2008 to 2018. We found no difference in lending cyclicality: Islamic banks and conventional banks both have procyclical lending behavior. Profitability, on the other hand, is procyclical for Islamic banks but not for conventional banks. Our findings support the view that Islamic banking presence does not contribute to strengthened economic stability.

中文翻译：

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伊斯兰银行业是否更具顺周期性？跨国证据

本文研究了伊斯兰银行业相对于传统银行业的周期性。它考察了伊斯兰银行和传统银行的贷款增长和盈利能力对经济增长的敏感性是否不同。我们使用了 2008 年至 2018 年期间来自 16 个国家/地区的 525 家银行的面板数据。我们发现贷款周期没有差异：伊斯兰银行和传统银行都具有顺周期贷款行为。另一方面，盈利能力对伊斯兰银行来说是顺周期的，但对传统银行来说则不然。我们的研究结果支持这样一种观点，即伊斯兰银行业的存在无助于加强经济稳定性。