A benchmark modelling for participation-based tax increment financing

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dc.authorid0000-0003-3305-7209
dc.contributor.authorVarlı, Yusuf
dc.contributor.authorVarlı, Yusuf
dc.contributor.authorVarlı, Yusuf
dc.contributor.authorÖvenç, Gökhan
dc.contributor.otherYönetim Bilimleri Fakültesi, İktisat Bölümü
dc.contributor.otherYönetim Bilimleri Fakültesi, İktisat Bölümü
dc.date.accessioned2020-11-19T07:05:18Z
dc.date.available2020-11-19T07:05:18Z
dc.date.issued2020
dc.departmentİHÜ, Yönetim Bilimleri Fakültesi, İktisat Bölümü
dc.description.abstractPurpose – This paper aims to present the theoretical and conceptual framework of a new method in public finance called “participation based tax increment financing (P-TIF)” by combining conventional tax increment financing (TIF) within the Shar??ah-compliance structure. Design/methodology/approach – This study develops a benchmark model for P-TIF, which offers a participative contract between both lender and borrower. With the help of this model, a financing schema in P-TIF is established by incorporating stochastic modelling. Possible implications and alternative options of application are also explored with a discussion of challenges. Findings – The results mainly indicate that P-TIF promises lenders to be a part of increment from tax earnings, in return for a reduced interest rate. They show how a rise in participation of the lender in a given contract lowers the interest rate. Under the base case scenario, the interest rate is reduced to zero when the participation of the lender in tax increment is set at 50%. Practical implications – With the feature of being interest-free, P-TIF can be implied also within the Shar??ah-compliance framework, thanks to the model it is based on. Additionally, as the model in this paper is parametric, it can be applicable to various cases in Islamic finance. Originality/value – To the best of our knowledge, this is the first paper in the literature in the sense that it provides a conceptual idea and respective model for TIF method within a Shar??ah-compliance framework.
dc.identifier.citationVarlı, Y. ve Övenç, G. (2020). A benchmark modelling for participation-based tax increment financing. ISRA International Journal of Islamic Finance, 12(2), 253-264.
dc.identifier.doi10.1108/IJIF-03-2019-0042
dc.identifier.endpage264
dc.identifier.issue2
dc.identifier.scopus2-s2.0-85091714775
dc.identifier.scopusqualityQ3
dc.identifier.startpage253
dc.identifier.urihttp://dx.doi.org/10.1108/IJIF-03-2019-0042
dc.identifier.urihttps://hdl.handle.net/20.500.12154/1282
dc.identifier.volume12
dc.identifier.wosWOS:000584703700007
dc.identifier.wosqualityQ4
dc.indekslendigikaynakScopus
dc.indekslendigikaynakWeb of Science
dc.institutionauthorVarlı, Yusuf
dc.institutionauthorid0000-0003-3305-7209
dc.language.isoen
dc.publisherEmerald Publishing
dc.relation.ihupublicationcategory117
dc.relation.ispartofISRA International Journal of Islamic Finance
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.subjectPublic Finance
dc.subjectTax Increment Financing
dc.subjectIslamic Finance and Banking
dc.subjectStochastic Modelling
dc.titleA benchmark modelling for participation-based tax increment financing
dc.typeArticle
dspace.entity.typePublication
relation.isAuthorOfPublicationd17361da-7d88-4d33-af55-e3d83fe37bbc
relation.isAuthorOfPublication.latestForDiscoveryd17361da-7d88-4d33-af55-e3d83fe37bbc
relation.isOrgUnitOfPublication9d1809d1-3541-41aa-94ed-639736b7e16f
relation.isOrgUnitOfPublication.latestForDiscovery9d1809d1-3541-41aa-94ed-639736b7e16f

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