Islamic Finance, Risk-Sharing and Macroeconomic Stability
| Examines the compatibility of capitalism and Islamic economics/finance by addressing important questions<div>Proposes nominal-GDP targeting (NGDPT) framework as an efficient monetary policy that is also consistent with Islamic monetary economy<br></div><div>Provides the Shari’ah as the principal source of Islamic banking <br></div><div>Investigates the effects of dynamic forces behind capital structure variation such as the optimal capital structure behaviour based on the trade-off, pecking order, market timing and firm fixed effect models of capital structure</div> |
Contenu
The concept of risk-sharing in financial and social contracts is one of the unique features of Islamic finance. Many theoretical studies generally claim superiority of an Islamic financial system based on pure equity and participatory modes of financing, while empirical studies provide mixed results. Studies and discussions are needed to fully understand how Islamic finance could contribute to the ongoing discussion of financial stability. Against this background, this book addresses various aspects of Islamic finance and the risk-sharing mechanism contributions to the overall macroeconomic and financial stability. Undoubtedly, the findings and recommendation from this book should be of great interest not only to future academic researchers in the field of macroeconomic stability and Islamic finance, but also to policy makers and regulators who are keen on drawing lessons from Islamic finance experiences to prevent similar crisis in the future.
Informations bibliographiques
février 2019, Anglais
PALGRAVE MACMILLAN
9783030052256