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Author: Hossein Askari
Publisher:
ISBN: 9781119199328
Category : Finance
Languages : en
Pages : 0
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Book Description
Author: Hossein Askari
Publisher:
ISBN: 9781119199328
Category : Finance
Languages : en
Pages : 0
Get Book Here
Book Description
Author: Franklin Allen
Publisher: MIT Press
ISBN: 9780262011419
Category : Business & Economics
Languages : en
Pages : 398
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Book Description
Franklin Allen and Douglas Gale assemble some of their key papers along with a five-chapter overview that not only synthesizes their work but provides a historical and institutional review and a discussion of alternative approaches as well.
Author: Muhamed Zulkhibri
Publisher: Springer
ISBN: 3030052257
Category : Business & Economics
Languages : en
Pages : 272
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Book Description
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.
Author: Mark Carey
Publisher: University of Chicago Press
ISBN: 0226092984
Category : Business & Economics
Languages : en
Pages : 669
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Book Description
Until about twenty years ago, the consensus view on the cause of financial-system distress was fairly simple: a run on one bank could easily turn to a panic involving runs on all banks, destroying some and disrupting the financial system. Since then, however, a series of events—such as emerging-market debt crises, bond-market meltdowns, and the Long-Term Capital Management episode—has forced a rethinking of the risks facing financial institutions and the tools available to measure and manage these risks. The Risks of Financial Institutions examines the various risks affecting financial institutions and explores a variety of methods to help institutions and regulators more accurately measure and forecast risk. The contributors--from academic institutions, regulatory organizations, and banking--bring a wide range of perspectives and experience to the issue. The result is a volume that points a way forward to greater financial stability and better risk management of financial institutions.
Author: Saad Bakkali
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 3110590557
Category : Business & Economics
Languages : en
Pages : 159
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Book Description
The contemporary finance deals mainly with multilateral and multi-counterparty transactions. Islamic Jurisprudence (Fiqh) has yet to develop its conceptualization of this modality of financing. Thus far, it has become a norm for large financing projects to rely on a complex structure of interconnected bilateral contracts that in totality becomes opaque, complex and costly. An unfortunate result of the unavailability of an efficient Fiqhi model applicable to modern multilateral and multi-counterparty contracts has been the fact that the present Islamic finance has been forced to replicate conventional risk-transfer (interest rate based) debt contracts thus drawing severe criticisms of duplicating conventional finance. In 2012, a gathering of some of the Muslim world’s most prominent experts in Jurisprudence (Fuqaha) and economists issued the Kuala Lumpur Declaration (Fatwa) in which they identified risk sharing as the essence of Islamic finance. The Declaration opened the door for a new Fiqh approach to take the lead in developing the jurisprudence of multilateral and multi-counterparty transactions. This Declaration (Fatwa) provides a prime motivation to search for a comprehensive model of risk sharing that can serve as an archetypal contract encompassing all potential contemporary financial transactions. From the perspective of Islamic Jurisprudence (Fiqh), the technicalities of the concept of risk sharing in contemporary finance have yet to be defined in Islamic literature. This book attempts to clarify and shed light on these technicalities from the perspective of Fiqh. It is a comprehensive study that relies on the fundamental Islamic sources to establish a theoretical and practical perspective of Fiqh encompassing risk-sharing Islamic finance as envisioned in the Kuala Lumpur Declaration of 2012. This new paradigm should lead to a more efficient approach to multilateral and multi-counterparty Islamic contracts which, here-to-fore has been lacking in the current configuration of Islamic finance.
Author: Tarik Akin
Publisher: De Gruyter Oldenbourg
ISBN: 9783110583731
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
The economics of wealth inequality is a nascent area of research. Although evidence shows that debt, interest, and leverage are drivers of increasing wealth inequalities, the literature is reluctant to focus on the debt-based system as a main culpri
Author: Franklin Allen
Publisher: MIT Press
ISBN: 9780262011778
Category : Business & Economics
Languages : en
Pages : 524
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Book Description
Why do different countries have such different financial systems? Is one system better than the other? This text argues that the view that market-based systems are best is simplistic, and suggests that a more nuanced approach is necessary.
Author: Carmel De Nahlik
Publisher: World Scientific
ISBN: 9811233209
Category : Business & Economics
Languages : en
Pages : 489
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Book Description
The book describes the different tools and techniques available to anyone who is engaged in providing funding or advice to a project. Project finance is ultimately about applying three basic principles to a funding situation and from these three, all the other ideas flow including contracts. First, there needs to be a cash flow coming from the project that is capable of being captured by finance providers. Second, there needs to be a group of assets that can be segregated and contained by making sure they cannot be taken away by other parties and thirdly there needs to be a risk envelope that is well understood and managed dynamically during the project's life. To do this, a network of contracts must exist to support the rights of the different stakeholders and their legal claims on the project. In this book the authors examine all of these aspects and provide some examples/mini-cases of project structures and approaches. The book begins and ends with a longer case study of two projects that were standalone examples of project financing and controversial for different reasons at the time of their fundraising.Bundle Set: Project Financing (Analyzing and Structuring Projects & Financial Instruments and Risk Management)
Author: Robert J. Shiller
Publisher: Princeton University Press
ISBN: 1400825474
Category : Business & Economics
Languages : en
Pages : 385
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Book Description
In his best-selling Irrational Exuberance, Robert Shiller cautioned that society's obsession with the stock market was fueling the volatility that has since made a roller coaster of the financial system. Less noted was Shiller's admonition that our infatuation with the stock market distracts us from more durable economic prospects. These lie in the hidden potential of real assets, such as income from our livelihoods and homes. But these ''ordinary riches,'' so fundamental to our well-being, are increasingly exposed to the pervasive risks of a rapidly changing global economy. This compelling and important new book presents a fresh vision for hedging risk and securing our economic future. Shiller describes six fundamental ideas for using modern information technology and advanced financial theory to temper basic risks that have been ignored by risk management institutions--risks to the value of our jobs and our homes, to the vitality of our communities, and to the very stability of national economies. Informed by a comprehensive risk information database, this new financial order would include global markets for trading risks and exploiting myriad new financial opportunities, from inequality insurance to intergenerational social security. Just as developments in insuring risks to life, health, and catastrophe have given us a quality of life unimaginable a century ago, so Shiller's plan for securing crucial assets promises to substantially enrich our condition. Once again providing an enormous service, Shiller gives us a powerful means to convert our ordinary riches into a level of economic security, equity, and growth never before seen. And once again, what Robert Shiller says should be read and heeded by anyone with a stake in the economy.
Author: Thorsten Beck
Publisher: World Bank Publications
ISBN:
Category : Bank
Languages : en
Pages : 58
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Book Description
Access to financial services, or rather the lack thereof, is often indiscriminately decried as a problem in many developing countries. The authors argue that the "problem of access" should rather be analyzed by identifying different demand and supply constraints. They use the concept of an access possibilities frontier, drawn for a given set of state variables, to distinguish between cases where a financial system settles below the constrained optimum, cases where this constrained optimum is too low, and-in credit services-cases where the observed outcome is excessively high. They distinguish between payment and savings services and fixed intermediation costs, on the one hand, and lending services and different sources of credit risk, on the other hand. The authors include both supply and demand side frictions that can lead to lower access. The analysis helps identify bankable and banked population, the binding constraint to close the gap between the two, and policies to prudently expand the bankable population. This new conceptual framework can inform the debate on adequate policies to expand access to financial services and can serve as the basis for an informed measurement of access.
