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Iqbal / Mirakhor / Askari

Risk Sharing in Finance

Medium: Buch
ISBN: 978-0-470-82966-0
Verlag: John Wiley & Sons
Erscheinungstermin: 05.12.2011
Lieferfrist: bis zu 10 Tage

How the Islamic finance approach to risk can serve as a model for global reform

The recent U.S. financial debacle has affected the entire world and led to major reviews of risk management in financial institutions. Perhaps a simpler alternative is just to adopt the systems used for centuries in Islamic finance. Risk Sharing in Finance expounds upon this novel idea, suggesting that the Islamic financial system can be developed for use around the world by providing a helpful paradigm for crafting global financial reforms.

Demonstrating how Islamic finance can successfully expand its array of risk sharing instruments, for example issuing government shares to finance development projects and placing limits on short sales and leveraging, the book makes a compelling case for thinking outside the box to redevelop a vibrant stock market.
* Provides analysis of the comparative historical, theoretical, and empirical investigation of risk management in both the conventional and the Islamic-type financial systems
* Explores the benefits and the implications of introducing Islamic finance around the world and explains how wider reliance on risk sharing can be implemented
* Establishes a connection between the flawed contemporary Western system of capitalist finance and the ancient, traditional forms of risk-sharing prevalent in Islamic finance

Offering a timely look at financial reform, Risk Sharing in Finance draws on the expertise of author Zamir Iqbal of the World Bank, along with a host of co-authors Abbas Mirakhor, Hossein Askari, and Noureddine Krichene to present a new form of financial reform.


Produkteigenschaften


  • Artikelnummer: 9780470829660
  • Medium: Buch
  • ISBN: 978-0-470-82966-0
  • Verlag: John Wiley & Sons
  • Erscheinungstermin: 05.12.2011
  • Sprache(n): Englisch
  • Auflage: 1. Auflage 2011
  • Serie: Wiley Finance Editions
  • Produktform: Gebunden
  • Gewicht: 604 g
  • Seiten: 312
  • Format (B x H x T): 157 x 235 x 21 mm
  • Ausgabetyp: Kein, Unbekannt
Autoren/Hrsg.

Autoren

Preface ix

Acknowledgments xvii

Glossary xix

PART ONE THE HISTORY AND CAUSES OF FINANCIAL CRISES

CHAPTER 1 A Brief History of Financial Crises and Proposed Reforms 3

CHAPTER 2 Financialization and the Decoupling-Recoupling Hypotheses 31

PART TWO RISK SHARING AND THE ISLAMIC PARADIGM

CHAPTER 3 A Brief History of Risk-Sharing Finance 49

CHAPTER 4 Risk Sharing and the Islamic Finance Paradigm 69

CHAPTER 5 Risk Sharing in the Islamic Financial System: The Building Blocks 95

CHAPTER 6 Risk Sharing and Vibrant Capital Markets in Islamic Finance 115

CHAPTER 7 Portfolio Theory and Asset Pricing 133

CHAPTER 8 Complementary Role of Intermediaries and Markets in Promoting Risk Sharing 159

PART THREE MOVING FORWARD

CHAPTER 9 Enhanced Access to Finance, Social Welfare, and Economic Development under a Risk-Sharing System 181

CHAPTER 10 The Role of Institutions and Governance in Risk Sharing 201

CHAPTER 11 Gaps between the Theory and Practice of Islamic Finance 225

CHAPTER 12 Concluding Remarks 247

References 259

Index 277