Handbook of analytical studies in Islamic finance and economics / Tarik Akin [and three others].

Format:

Book

Author/Creator:

Akin, Tarik, author.

Contributor:

Akin, Tarik, Editor.

El Maghrebi, Nabil, Editor.

Iqbal, Zamir, Editor.

Mirakhor, Abbas, Editor.

Series:

De Gruyter Studies in Islamic Economics, Finance and Business ; 4

Language:

English

Subjects (All):

Economics--Religious aspects--Islam.

Economics.

Physical Description:

1 online resource (XXXVIII, 685 p.)

Place of Publication:

Berlin ; Boston : De Gruyter Oldenbourg, [2020]

Language Note:

In English.

Summary:

This handbook offers a unique and original collection of analytical studies in Islamic economics and finance, and constitutes a humble addition to the literature on new economic thinking and global finance. The growing risks stemming from higher debt, slower growth, and limited room for policy maneuver raise concerns about the ability and propensity of modern economies to find effective solutions to chronic problems. It is important to understand the structural roots of inherent imbalance, persistence-in-error patterns, policy and governance failures, as well as moral and ethical failures. Admittedly, finance and economics have their own failures, with abstract theory bearing little relation with the real economy, uncertainties and vicissitudes of economic life. Economic research has certainly become more empirical despite, or perhaps because of, the lack of guidance from theory. The analytics of Islamic economics and finance may not differ from standard frameworks, methods, and techniques used in conventional economics, but may offer new perspectives on the making of financial crises, nature of credit cycles, roots of financial system instability, and determinants of income disparities. The focus is placed on the logical coherence of Islamic economics and finance, properties of Islamic capital markets, workings of Islamic banking, pricing of Islamic financial instruments, and limits of debt financing, fiscal stimulus and conventional monetary policies, inter alia. Readers with investment, regulatory, and academic interests will find the body of analytical evidence to span many areas of economic inquiry, refuting thereby the false argument that given its religious tenets, Islamic economics is intrinsically narrative, descriptive and not amenable to testable implications. Thus, the handbook may contribute toward a redefinition of a dismal science in search for an elusive balance between rationality, ethics and morality, and toward a remodeling of economies based on risk sharing and prosperity for all humanity

Contents:

Frontmatter

Preface

Contents

Chapter 1: On the Logical Character and Coherence of Islamic Economics

Chapter 2: Consilience as Islamic Methodology of Tawhid: The General Socio-Scientific Framework

Chapter 3: Economics for a Better Future

Chapter 4: Game-Theoretic Investigation into Economic Behavior

Chapter 5: Interest Rates, Unconventional Monetary Policies and Market Volatility Expectations

Chapter 6: Beyond DSGE: An Accounting System Dynamics Modelling Approach

Chapter 7: Equity-based Macroeconomic Policies: An Alternative Solution to Economic Stability and Development

Chapter 8: Statistical Microeconomic Modelling of Asset Prices: Some Perspectives from Islamic Finance and Economics

Chapter 9: Monitoring Strategy in Profit-Loss Sharing Arrangements: Cost or Investment?

Chapter 10: The Effect of Market Regimes on the Performance of Market Capitalization- Weighted and Smart-Beta Shariah-Compliant Equity Portfolios

Chapter 11: Analysis of the Risk of Failure in Sukuk Portfolios

Chapter 12: A Portfolio of Islamic Private and Social Financial Instruments

Chapter 13: Do Islamic Banks Contribute to Risk Sharing?

Chapter 14: Catalyst for SMEs’ Access to Finance in the OIC: Renting Money or Renting Assets?

Chapter 15: Fame as an Operational Proxy of “Taqwa”: Controlling Asymmetric Information or Gharar in a Game-theoretic Design of Equity-Crowdfunding?

Chapter 16: Financial Consumer Protection: Empirical Evidence from Dual Banking Systems

Chapter 17: Analytical Assessment of Liquidity Risk Management in Islamic Banks

Chapter 18: Antifragility of Risk-Sharing Finance: A Quantitative Analysis

Chapter 19: Modeling Bank Branch Efficiency using Data Envelopment Analysis

Chapter 20: An Empirical Analysis of Income Structure and Profitability of Islamic and Conventional Banks in South Asia

Chapter 21: Risk-Sharing Asset-based Redistribution in Public Finance: A Stock- Flow Consistent Analysis

Chapter 22: Risk-Sharing Finance and Inequality in a Benchmark Agent-Based Model

Chapter 23: People’s Wellbeing: A Strive to Meet Maqasid al-Shariah

Chapter 24: Is Islamic Banking Good for Growth?

Chapter 25: An Alternative Model of Economic Stabilization and Growth for Developing Countries

Chapter 26: Are Finance and Human Development Important for Economic Growth? International Evidence from Dynamic GMM Approach

Chapter 27: Resource Curse in Muslim Countries

List of Figures

List of Tables

Author Biographies

Index

Notes:

Description based on print version record.

ISBN:

9783110585179

3110585170

9783110587920

3110587920

OCLC:

1191863669