Başlık:
Islamic finance in the light of modern economic theory
Yazar:
Basov, Suren, author.
ISBN:
9781137286611
Yazar Ek Girişi:
Fiziksel Tanımlama:
xiii, 173 pages : illustrations ; 21 cm
İçerik:
Preface; Contents; List of Figures; Part I Islamic Finance: Rationale, History, Instruments and the Legal Framework; Reference; 1 Introduction; 1.1 Overview; 1.2 The Two Worlds of Finance; 1.3 The Rationale of Islamic Finance; 1.3.1 The Development of Islamic Banking Worldwide; 1.3.2 IBF in the Middle East; 1.3.3 IBF in South Asia; 1.3.4 IBF in the Southeast Asia; 1.3.5 IBF in Africa: Sudan; 1.3.6 IBF in European and Western Countries; 1.3.7 IBF in Australia; 1.4 Conclusions; References; 2 Islamic Financial Instruments; 2.1 Overview; 2.2 Equity-Based Instruments; 2.2.1 Mushārakah
2.2.1.1 Profit and Loss Sharing2.2.1.2 The Nature of Capital; 2.2.1.3 Management; 2.2.1.4 Termination; 2.2.2 Mudārabah; 2.2.2.1 Profit and Loss Sharing; 2.2.2.2 The Nature of Capital; 2.2.2.3 Management; 2.2.2.4 Termination; 2.3 Debt-Based Instruments; 2.3.1 Murābahah; 2.3.1.1 The Nature of Cash Flows; 2.3.1.2 The Nature of Underlying Asset; 2.3.1.3 Management; 2.3.1.4 Termination; 2.3.2 Salam; 2.3.2.1 The Nature of Cash Flows; 2.3.2.2 The Nature of the Underlying Asset; 2.3.2.3 Management; 2.3.2.4 Termination; 2.3.3 Istisnā'; 2.3.3.1 The Nature of Cash Flows
2.3.3.2 The Nature of the Underlying Asset2.3.3.3 Management; 2.3.3.4 Termination; 2.3.4 Ijarah; 2.3.4.1 The Nature of Cash Flows; 2.3.4.2 The Nature of the Underlying Asset; 2.3.4.3 Management; 2.3.4.4 Termination; 2.4 Takaful; References; 3 The Historical Roots and Evolution of Islamic Financial Thought; Part II The Law of Unexpected Consequences; References; 4 The Incidence of Taxation; 4.1 Exercises; 4.2 Bibliographic Notes; Reference; 5 The Basics of Corporate Finance: The Miller-Modigliani Theorem; 5.1 The Miller-Modigliani Theorem
5.2 Hidden Information and the Breakdown of the Miller-Modigliani Theorem5.3 Prohibition of Riba in the Light of the Miller-Modigliani Theorem; 5.4 Exercises; 5.5 Bibliographic Notes; 5.6 Unexpected Consequences of the Provisions of Islamic Law; References; Part III Game Theory and Mechanism Design; References; 6 Game Theory; 6.1 The Normal Form and the Extensive Form; 6.2 Mixed Strategies and Behavioral Strategies; 6.3 Simultaneous-Move Games of Complete Information; 6.3.1 Dominant and Dominated Strategies
6.3.1.1 Iterated Deletion of Strictly Dominated Strategies, Rationalizable Strategies and Common Knowledge of Rationality6.4 The Nash Equilibrium; 6.5 Simultaneous-Move Games of Incomplete Information; 6.5.1 Harsanyi's Doctrine; 7 The Revelation Principle; 7.1 Bibliographic Notes; Reference; 8 Monopolistic Screening; 8.1 The Monopolistic Screening Model with Two Types; 8.2 The Unidimensional Screening Model; 8.3 The Spence-Mirrlees Condition and Implementability; 8.4 The Concept of the Information Rent; 8.5 Three Approaches to the Unidimensional Relaxed Problem; 8.5.1 The Direct Approach
Özet:
This book provides researchers and students with an understanding of the basic legal tenets of the Islamic finance industry, studying the real economic effects of those tenets using the tools of the modern economic theory. Split into four parts, the book begins with an introduction to the history and a legal framework for Islamic banking, covering typical Islamic financial products such as Sukuk and Takaful and examining the structure of Islamic financial institutions. It then analyzes and discusses the Miller-Modigliani Theorem, which is of direct relevance to Islamic banks which are prohibited to charge interest and often have to rely of profit-loss sharing agreements. Part III of the book introduces the reader to modern mechanism design theory, paying particular attention to optimal contracting under hidden action and hidden information, and final part of the book applies the tools of economic theory to understand performance of Islamic financial institutions such as Islamic banks and Takaful operators. Islamic Finance in Light of Modern Economic Theory brings together all the necessary technical tools for analyzing the economic effects of Islamic frameworks and can be used as an advanced textbook for graduate students who wish to specialize in the area, as a reference for researchers and as a tool to help economists improve the design of Islamic financial institutions.
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Library | Materyal Türü | Demirbaş | Yer Numarası | Durumu / Lokasyon / İade Tarihi |
|---|---|---|---|---|
Arıyor... | Kitap | EKOBKN0005220 | 332.091767 BAS 2016 | Arıyor... |