Handbook of Financial Intermediation and Banking

Handbook of Financial Intermediation and Banking
Author: Anjan V. Thakor
Publsiher: Elsevier Science
Total Pages: 577
Release: 2008
ISBN: 9780444515582
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Handbook of Financial Intermediation and Banking Book Excerpt:

The growth of financial intermediation research has yielded a host of questions that have pushed "design" issues to the fore even as the boundary between financial intermediation and corporate finance has blurred. This volume presents review articles on six major topics that are connected by information-theoretic tools and characterized by valuable perspectives and important questions for future research. Touching upon a wide range of issues pertaining to the designs of securities, institutions, trading mechanisms and markets, industry structure, and regulation, this volume will encourage bold new efforts to shape financial intermediaries in the future. * Original review articles offer valuable perspectives on research issues appearing in top journals * Twenty articles are grouped by six major topics, together defining the leading research edge of financial intermediation * Corporate finance researchers will find affinities in the tools, methods, and conclusions featured in these articles

Handbook of Financial Intermediation and Banking

Handbook of Financial Intermediation and Banking
Author: Anjan V. Thakor,Arnoud Boot
Publsiher: Elsevier
Total Pages: 608
Release: 2008-07-07
ISBN: 9780080559926
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Handbook of Financial Intermediation and Banking Book Excerpt:

The growth of financial intermediation research has yielded a host of questions that have pushed "design" issues to the fore even as the boundary between financial intermediation and corporate finance has blurred. This volume presents review articles on six major topics that are connected by information-theoretic tools and characterized by valuable perspectives and important questions for future research. Touching upon a wide range of issues pertaining to the designs of securities, institutions, trading mechanisms and markets, industry structure, and regulation, this volume will encourage bold new efforts to shape financial intermediaries in the future. * Original review articles offer valuable perspectives on research issues appearing in top journals * Twenty articles are grouped by six major topics, together defining the leading research edge of financial intermediation * Corporate finance researchers will find affinities in the tools, methods, and conclusions featured in these articles

The Oxford Handbook of Banking

The Oxford Handbook of Banking
Author: Allen N. Berger,Philip Molyneux,John O. S. Wilson
Publsiher: Oxford University Press, USA
Total Pages: 1105
Release: 2015
ISBN: 0199688508
Category: Business & Economics
Language: EN, FR, DE, ES & NL

The Oxford Handbook of Banking Book Excerpt:

The Oxford Handbook of Banking, Second Edition provides an overview and analysis of developments and research in banking written by leading researchers in the field. This handbook will appeal to graduate students of economics, banking and finance, academics, practitioners, regulators, and policy makers. Consequently, the book strikes a balance between abstract theory, empirical analysis, and practitioner, and policy-related material. The Handbook is split into five parts. Part I, The Theory of Banking, examines the role of banks in the wider financial system, why banks exist, how they function, and their corporate governance and risk management practices. Part II deals with Bank Operations and Performance. A range of issues are covered including bank performance, financial innovation, and technological change. Aspects relating to small business, consumer, and mortgage lending are analysed together with securitization, shadow banking, and payment systems. Part III entitled Regulatory and Policy Perspectives discusses central banking, monetary policy transmission, market discipline, and prudential regulation and supervision. Part IV of the book covers various Macroeconomic Perspectives in Banking. This part includes a discussion of systemic risk and banking and sovereign crises, the role of the state in finance and development as well as how banks influence real economic activity. The final Part V examines International Differences in Banking Structures and Environments. This part of the Handbook examines banking systems in the United States, European Union, Japan, Africa, Transition countries, and the developing nations of Asia and Latin America.

Handbook for Banking Strategy

Handbook for Banking Strategy
Author: Richard C. Aspinwall,Robert A. Eisenbeis
Publsiher: John Wiley & Sons Incorporated
Total Pages: 832
Release: 1985-01-18
ISBN: 1928374650XXX
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Handbook for Banking Strategy Book Excerpt:

A comprehensive handbook for bank managers, corporate planning executives and graduate students, surveying recent fundamental changes in financial institutions and markets and analyzing their strategic implications for bank management. Noted authorities assess the growing importance of financial intermediaries and address the ``whys'' of changes in intermediation. Major shifts in financing practices are examined in light of the effects of inflation, technology and regulation. Chapters also explore specific changes in banking services, customers, suppliers, and regulation.

The Bank Analyst s Handbook

The Bank Analyst s Handbook
Author: Stephen M. Frost
Publsiher: John Wiley & Sons
Total Pages: 572
Release: 2005-09-27
ISBN: 0470091193
Category: Business & Economics
Language: EN, FR, DE, ES & NL

The Bank Analyst s Handbook Book Excerpt:

It is not uncommon to meet professionals in financial services who have only a vague idea of what their colleagues actually do. The root cause is specialization and the subsequent development of jargon that makes communication between common specialists faster and more precise but is virtually impenetrable to everybody else. The Bank Analyst’s Handbook provides a modern introduction to financial markets and intermediation. Individual subject areas are covered in a thorough but clear and succinct manner. The breadth of the author’s experience as a sell-side bank analyst is exploited to good effect to pull together these threads and create a coherent framework for the analysis of financial markets, whether these are in advanced economies or developing markets. The Handbook is well-written and highly accessible. It builds on orthodox financial theory (with all of its flaws and controversies) but also highlights many of the real problems involved with translating such theory into practice. It can be appreciated at many different levels and this explains its wide target readership. The Bank Analyst’s Handbook: Bridges the gap between the more superficial introductory books and specialist works Covers all the important functions and subjects related to the financial services industry Provides a comprehensive overview for financial services professionals, business school students, consultants, accountants, auditors and legal practitioners, analysts and fund-managers and corporate managers. "An excellent guide for any professionals who are coming into the banking industry. Extremely well-written, covering clearly and lucidly a range of topics which many bankers themselves don't understand. I will make this book mandatory reading - no, make that studying - for anybody I hire to work as a financial sector consultant." —Chris Matten, Executive Director, PricewaterhouseCoopers "A great insight into the often murky and impenetrable world of banking... compulsory reading for analysts and investors alike." —Hugh Young, Managing Director, Aberdeen Asset Management Asia Ltd

The Handbook of Global Shadow Banking Volume I

The Handbook of Global Shadow Banking  Volume I
Author: Luc Nijs
Publsiher: Springer Nature
Total Pages: 800
Release: 2020-06-30
ISBN: 3030347435
Category: Business & Economics
Language: EN, FR, DE, ES & NL

The Handbook of Global Shadow Banking Volume I Book Excerpt:

This global handbook provides an up-to-date and comprehensive overview of shadow banking, or market-based finance as it has been recently coined. Engaging in financial intermediary services outside of normal regulatory parameters, the shadow banking sector was arguably a critical factor in causing the 2007-2009 financial crisis. This volume focuses specifically on shadow banking activities, risk, policy and regulatory issues. It evaluates the nexus between policy design and regulatory output around the world, paying attention to the concept of risk in all its dimensions—the legal, financial, market, economic and monetary perspectives. Particular attention is given to spillover risk, contagion risk and systemic risk and their positioning and relevance in shadow banking activities. Newly introduced and incoming policies are evaluated in detail, as well as how risk is managed, observed and assessed, and how new regulation can potentially create new sources of risk. Volume I concludes with analysis of what will and still needs to happen in the event of another crisis. Proposing innovative suggestions for improvement, including a novel Pigovian tax to tame financial and systemic risks, this handbook is a must-read for professionals and policy-makers within the banking sector, as well as those researching economics and finance.

Islamic Finance in a Nutshell

Islamic Finance in a Nutshell
Author: Brian Kettell
Publsiher: John Wiley & Sons
Total Pages: 192
Release: 2011-10-20
ISBN: 0470710039
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Islamic Finance in a Nutshell Book Excerpt:

The recent turbulence in the global financial markets has drawn attention to an alternative system of financial intermediation: Islamic banking and finance, which has so far remained on the sidelines of the unrest. Islamic Finance in a Nutshell is a quick and easy guide to understanding the fundamentals of Islamic Finance and how the Islamic Financial markets work. Designed as a quick read for practitioners needing to pick up the basics of the industry, it will enable readers to understand the differences Islamic and Western finance. Starting with the rise of Islamic finance, the book highlights the key areas which practitioners need to grasp to understand the marketplace including financial statement analysis, Sharia’a law, making money in the absence of interest and regulation. The book also provides readers with a basic guide to Arab terminology and a guide to the top financial institutions within the Islamic markets. This is an ideal guide for anyone with an interest in how these financial markets work, but who do not want to be bogged down in complex and unnecessary terminology.

The Handbook of Global Shadow Banking Volume II

The Handbook of Global Shadow Banking  Volume II
Author: Luc Nijs
Publsiher: Springer Nature
Total Pages: 744
Release: 2020-06-30
ISBN: 3030348172
Category: Business & Economics
Language: EN, FR, DE, ES & NL

The Handbook of Global Shadow Banking Volume II Book Excerpt:

This global handbook provides an up-to-date and comprehensive overview of shadow banking, or market-based finance as it has been recently coined. Engaging in financial intermediary services outside of normal regulatory parameters, the shadow banking sector was arguably a critical factor in causing the 2007-2009 financial crisis. This second volume explores three particular domains of shadow banking. The first domain deals with the macro-economic fundamentals of the respective shadow banking segments: Why do they exist, what problems do they solve and why are some of their embedded risks so persistent? The second domain captures the global dimensions of shadow banking markets, reviewing the particularities and specifics of various shadow banking systems around the world. Volume II concludes with an extensive overview of how the sector has changed since the financial crisis, focusing on regulatory arbitrage, contract imperfection and governance. Closing on unresolved issues and open-ended questions that will no doubt remain prominent in the shadow banking sector for years to come, this handbook is a must-read for professionals and policy-makers within the banking sector, as well as those researching economics and finance.

Handbook of Financial Stress Testing

Handbook of Financial Stress Testing
Author: J. Doyne Farmer,Alissa M. Kleinnijenhuis,Til Schuermann,Thom Wetzer
Publsiher: Cambridge University Press
Total Pages: 135
Release: 2022-03-31
ISBN: 1108906079
Category: Mathematics
Language: EN, FR, DE, ES & NL

Handbook of Financial Stress Testing Book Excerpt:

Stress tests are the most innovative regulatory tool to prevent and fight financial crises. Their use has fundamentally changed the modeling of financial systems, financial risk management in the public and private sector, and the policies designed to prevent and mitigate financial crises. When financial crises hit, stress tests take center stage. Despite their centrality to public policy, the optimal design and use of stress tests remains highly contested. Written by an international team of leading thinkers from academia, the public sector, and the private sector, this handbook comprehensively surveys and evaluates the state of play and charts the innovations that will determine the path ahead. It is a comprehensive and interdisciplinary resource that bridges theory and practice and places financial stress testing in its wider context. This guide is essential reading for researchers, practitioners, and policymakers working on financial risk management and financial regulation.

Bank Liquidity Creation and Financial Crises

Bank Liquidity Creation and Financial Crises
Author: Allen Berger,Christa Bouwman
Publsiher: Academic Press
Total Pages: 294
Release: 2015-11-24
ISBN: 0128005319
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Bank Liquidity Creation and Financial Crises Book Excerpt:

Bank Liquidity Creation and Financial Crises delivers a consistent, logical presentation of bank liquidity creation and addresses questions of research and policy interest that can be easily understood by readers with no advanced or specialized industry knowledge. Authors Allen Berger and Christa Bouwman examine ways to measure bank liquidity creation, how much liquidity banks create in different countries, the effects of monetary policy (including interest rate policy, lender of last resort, and quantitative easing), the effects of capital, the effects of regulatory interventions, the effects of bailouts, and much more. They also analyze bank liquidity creation in the US over the past three decades during both normal times and financial crises. Narrowing the gap between the "academic world" (focused on theories) and the "practitioner world" (dedicated to solving real-world problems), this book is a helpful new tool for evaluating a bank’s performance over time and comparing it to its peer group. Explains that bank liquidity creation is a more comprehensive measure of a bank’s output than traditional measures and can also be used to measure bank liquidity Describes how high levels of bank liquidity creation may cause or predict future financial crises Addresses questions of research and policy interest related to bank liquidity creation around the world and provides links to websites with data and other materials to address these questions Includes such hot-button topics as the effects of monetary policy (including interest rate policy, lender of last resort, and quantitative easing), the effects of capital, the effects of regulatory interventions, and the effects of bailouts

Handbook of International Banking

Handbook of International Banking
Author: A. W. Mullineux,Victor Murinde
Publsiher: Edward Elgar Publishing
Total Pages: 830
Release: 2003-01-01
ISBN: 9781843765646
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Handbook of International Banking Book Excerpt:

'The Handbook is especially recommended to MBA students and faculty and belongs in the reference collections of academic and research libraries. Although each chapter may serve as a self-contained unit, readers will want to look at the larger picture by comparing and contrasting articles found in each part of the work. It should prove to be a helpful source for those studying international banking, economics and finance, and international business.' – Lucy Heckman, American Reference Books Annual 2004 The Handbook of International Banking provides a clearly accessible source of reference material, covering the main developments that reveal how the internationalization and globalization of banking have developed over recent decades to the present, and analyses the creation of a new global financial architecture. The Handbook is the first of its kind in the area of international banking with contributions from leading specialists in their respective fields, often with remarkable experience in academia or professional practice. The material is provided mainly in the form of self-contained surveys, which trace the main developments in a well-defined topic, together with specific references to journal articles and working papers. Some contributions, however, disseminate new empirical findings especially where competing paradigms are evaluated. The Handbook is divided into four areas of interest. The first deals with the globalization of banking and continues on to banking structures and functions. The authors then focus on banking risks, crises and regulation and finally the evolving international financial architecture. Designed to serve as a source of supplementary reading and inspiration, the Handbook is suited to a range of courses in banking and finance including post-experience and in-house programmes for bankers and other financial services practitioners. This outstanding volume will become essential reference for policymakers, financial practitioners as well as academics and researchers in the field.

TARP and other Bank Bailouts and Bail Ins around the World

TARP and other Bank Bailouts and Bail Ins around the World
Author: Allen Berger,Raluca Roman
Publsiher: Academic Press
Total Pages: 476
Release: 2020-06-09
ISBN: 0128138653
Category: Business & Economics
Language: EN, FR, DE, ES & NL

TARP and other Bank Bailouts and Bail Ins around the World Book Excerpt:

Financial crises are recurring phenomena that result in the financial distress of systemically important banks, making it imperative to understand how to best respond to such crises and their consequences. Two policy responses became prominent for dealing with these distressed institutions since the last Global Financial Crisis: bailouts and bail-ins. The main questions surrounding these responses touch everyone: Are bailouts or bail-ins good for the financial system and the real economy? Is it essential to save distressed financial institutions by putting taxpayer money at risk in bailouts, or is it better to use private money in bail-ins instead? Are there better options, such as first lines of defense that help prevent such distress in the first place? Can countercyclical prudential and monetary policies lessen the likelihood and severity of the financial crises that often bring about this distress? Through careful analysis, authors Berger and Roman review and critically assess the extant theoretical and empirical research on many resolution approaches and tools. Placing special emphasis on lessons learned from one of the biggest bailouts of all time, the Troubled Asset Relief Program (TARP), while also reviewing other programs and tools, TARP and Other Bank Bailouts and Bail-Ins around the World sheds light on how best to protect the financial system on Wall Street and the real economy on Main Street. Presents a well-informed and rich account of bailouts, bail-ins, and other resolution approaches to resolve financially distressed banks. Uses TARP as a key case study of bailouts that has been thoroughly researched. Provides valuable research and policy guidance for dealing with future financial crises.

Handbook of the Economics of Finance

Handbook of the Economics of Finance
Author: George M. Constantinides,M. Harris,Rene M. Stulz
Publsiher: Elsevier
Total Pages: 654
Release: 2003-11-04
ISBN: 0080495079
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Handbook of the Economics of Finance Book Excerpt:

Volume 1A covers corporate finance: how businesses allocate capital - the capital budgeting decision - and how they obtain capital - the financing decision. Though managers play no independent role in the work of Miller and Modigliani, major contributions in finance since then have shown that managers maximize their own objectives. To understand the firm's decisions, it is therefore necessary to understand the forces that lead managers to maximize the wealth of shareholders.

The Islamic Banking and Finance Workbook

The Islamic Banking and Finance Workbook
Author: Brian Kettell
Publsiher: John Wiley & Sons
Total Pages: 160
Release: 2011-10-14
ISBN: 1119990629
Category: Business & Economics
Language: EN, FR, DE, ES & NL

The Islamic Banking and Finance Workbook Book Excerpt:

The ongoing turbulence in the global financial markets has drawn attention to an alternative system of financial intermediation: Islamic banking and finance. This is now one of the fastest growing sectors within the market place and has, so far, remained on the sidelines of this unrest. Since the inception of Islamic banking thirty years ago the number and reach of Islamic financial institutions worldwide has risen significantly. Institutions offering Islamic financial services constitute a significant and growing share of the financial system in several countries, and market participants everywhere are joining the race to study and be a part of this emerging financial system. The Islamic Banking and Finance Workbook is a one-of-a-kind workbook on the topic, enabling readers to test their understanding of Islamic banking and finance concepts. Although suitable as a standalone learning tool, the book is designed to test the information covered in the companion book, Introduction to Islamic Finance and Banking, and covers the fundamentals of Sharia'a law, the Islamic contracts interpretations and definitions, Murabaha, Mudaraba, Musharaka, Istisna'a, Salam and Ijara modes of finance, Takaful and much more. Emphasis is placed on mini case studies, multiple choice questions and tests of the basic concepts. It also includes a full answer key and brief chapter summaries, as well as learning objectives. The Islamic Banking and Finance Workbook is an essential learning tool for students and practitioners who want to test their knowledge of the rapidly growing world of Islamic banking and finance.

Capital Structure and Corporate Financing Decisions

Capital Structure and Corporate Financing Decisions
Author: H. Kent Baker,Gerald S. Martin
Publsiher: John Wiley & Sons
Total Pages: 504
Release: 2011-05-03
ISBN: 0470569522
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Capital Structure and Corporate Financing Decisions Book Excerpt:

A comprehensive guide to making better capital structure and corporate financing decisions in today's dynamic business environment Given the dramatic changes that have recently occurred in the economy, the topic of capital structure and corporate financing decisions is critically important. The fact is that firms need to constantly revisit their portfolio of debt, equity, and hybrid securities to finance assets, operations, and future growth. Capital Structure and Corporate Financing Decisions provides an in-depth examination of critical capital structure topics, including discussions of basic capital structure components, key theories and practices, and practical application in an increasingly complex corporate world. Throughout, the book emphasizes how a sound capital structure simultaneously minimizes the firm's cost of capital and maximizes the value to shareholders. Offers a strategic focus that allows you to understand how financing decisions relates to a firm's overall corporate policy Consists of contributed chapters from both academics and experienced professionals, offering a variety of perspectives and a rich interplay of ideas Contains information from survey research describing actual financial practices of firms This valuable resource takes a practical approach to capital structure by discussing why various theories make sense and how firms use them to solve problems and create wealth. In the wake of the recent financial crisis, the insights found here are essential to excelling in today's volatile business environment.

The Industrial Organization of Banking

The Industrial Organization of Banking
Author: David VanHoose
Publsiher: Springer Science & Business Media
Total Pages: 257
Release: 2009-12-09
ISBN: 3642028217
Category: Business & Economics
Language: EN, FR, DE, ES & NL

The Industrial Organization of Banking Book Excerpt:

This book aims to provide a thoroughly updated overview and evaluation of the industrial organization of banking. It examines the interplay among bank behaviour, market structure, and regulation from the perspective of a variety of public policy issues, including bank competition and risk, market discipline, antitrust issues, and capital regulation. New to this edition are discussions of the economic foundations of international banking, macroprudential regulation, and international coordination of banking policies. The book can serve as a learning tool and reference for graduate students, academics, bankers, and policymakers with interests in the industrial organization of the banking sector and the impacts of banking regulations.

The Economic and Financial Impacts of the Covid 19 Crisis Around the World

The Economic and Financial Impacts of the Covid 19 Crisis Around the World
Author: Allen Berger,Mustafa U. Karakaplan,Raluca Roman
Publsiher: Academic Press
Total Pages: 0
Release: 2023-06-01
ISBN: 9780443191626
Category: Business & Economics
Language: EN, FR, DE, ES & NL

The Economic and Financial Impacts of the Covid 19 Crisis Around the World Book Excerpt:

The Economic and Financial Impacts of the Covid-19 Crisis Around the World: Expect the Unexpected provides an informed, research-based deep understanding of the COVID-19 crisis and its impacts on the businesses, consumers, banks, and financial markets and effectiveness of reactions of governments and policymakers in the U.S. and around the world. It provides reflections and perspectives on the social costs and benefits of various policies undertaken and a toolkit of preventive measures to deal with crises beyond COVID-19 crisis. Authors Allen N. Berger, Mustafa U. Karakaplan, and Raluca A. Roman put the COVID-19 economic crisis in context by comparing it to two other massive crises from the past-the Crash of 1929 and the Global Financial Crisis of 2007-2009-to help illustrate how crises that originate in financial markets and in the banking sector differ from one another as well as from the COVID-19 crisis that harmed the real economy first. They also compare the U.S. policies and outcomes in the COVID-19 crisis to those in other nations with different policy responses to the pandemic. They assess the important costs and benefits of various government policy responses to the programs and suggest potential policy implications for prospective future economic crises. The book takes a holistic approach that considers the effects of policies taken in advance of crises as well as when they are occurring and pay particular attention to the speed and magnitude of the policy reactions.Economics and finance students and researchers can use the information in this book to innovate, create new research, and make informed decisions. Bank executives can learn about tools to better shield institutions from future crises, and regulators and policy makers can learn how to make informed policy decisions beyond COVID-19. Financial analysts and anyone with a basic knowledge of economics and finance can keep themselves up to date on developments in economics and finance and general causes, consequences, and policies for the COVID-19 crisis and others.

The Future of Large Internationally Active Banks

The Future of Large  Internationally Active Banks
Author: Demirguc-kunt Asli,Evanoff Douglas D,Kaufman George G
Publsiher: World Scientific
Total Pages: 496
Release: 2016-09-16
ISBN: 9813141409
Category: Business & Economics
Language: EN, FR, DE, ES & NL

The Future of Large Internationally Active Banks Book Excerpt:

The Great Financial Crisis of 2007-2010 has had a major impact on large cross-border banks, which are widely blamed for the start and severity of the crisis. As a result, much public policy, both in the United States and elsewhere, has been directed at making these banks safer and less influential by reducing their size and permissible powers through increased government regulation. At the Federal Reserve Bank of Chicago's 18th annual International Banking Conference, held in November 2015, the status of these large cross-border banks was critically evaluated. In collaboration with the World Bank, the conference held discussions on the current regulatory landscape for large and internationally active financial institutions; the impact of regulation on bank permissible activities and international trade; improvements in risk management; necessary repairs to the bank safety net; the resolution of insolvent banks operating across national borders; corporate governance for banks in the new environment; implications for market and government discipline; and, progress in achieving international cooperation. Contributors include international policymakers, practitioners, researchers, and academics from more than 30 countries. The papers from the conference are collected in this volume.

Does Easing Monetary Policy Increase Financial Instability

Does Easing Monetary Policy Increase Financial Instability
Author: Ambrogio Cesa-Bianchi,Mr.Alessandro Rebucci
Publsiher: International Monetary Fund
Total Pages: 47
Release: 2015-06-26
ISBN: 1513588494
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Does Easing Monetary Policy Increase Financial Instability Book Excerpt:

This paper develops a model featuring both a macroeconomic and a financial friction that speaks to the interaction between monetary and macro-prudential policies. There are two main results. First, real interest rate rigidities in a monopolistic banking system have an asymmetric impact on financial stability: they increase the probability of a financial crisis (relative to the case of flexible interest rate) in response to contractionary shocks to the economy, while they act as automatic macro-prudential stabilizers in response to expansionary shocks. Second, when the interest rate is the only available policy instrument, a monetary authority subject to the same constraints as private agents cannot always achieve a (constrained) efficient allocation and faces a trade-off between macroeconomic and financial stability in response to contractionary shocks. An implication of our analysis is that the weak link in the U.S. policy framework in the run up to the Global Recession was not excessively lax monetary policy after 2002, but rather the absence of an effective regulatory framework aimed at preserving financial stability.

Handbook of Analytical Studies in Islamic Finance and Economics

Handbook of Analytical Studies in Islamic Finance and Economics
Author: Zamir Iqbal,Tarik Akin,Nabil El Maghrebi,Abbas Mirakhor
Publsiher: Walter de Gruyter GmbH & Co KG
Total Pages: 723
Release: 2020-08-10
ISBN: 3110585170
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Handbook of Analytical Studies in Islamic Finance and Economics Book Excerpt:

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