We compare default rates on conventional and Islamic loans using a comprehensive monthly dataset from Pakistan that follows more than 150,000 loans over the period 2006:04 to 2008:12. We find robust evidence that the default rate on Islamic loans is less than half the default rate on...

The present study is part of a much larger study that examined the ethics of bribery and the ethics of tax evasion from a variety of perspectives. Data were taken from the most recent Wave of the World Values Survey. Data were collected in 56 countries. Participants were asked how risky is it to...