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Macroeconomic Policy and Islamic Finance in Malaysia (Hardcover, 1st ed. 2017)
Loot Price: R3,654
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Macroeconomic Policy and Islamic Finance in Malaysia (Hardcover, 1st ed. 2017)
Series: Financial Institutions, Reforms, and Policies in Muslim Countries
Expected to ship within 12 - 17 working days
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This book offers an alternative framework for macroeconomic policy
in Malaysia, derived from the universal principles of social
justice espoused in the objectives of the Shariah. It attempts to
holistically analyze issues related to public finance, which has
been criticized for lack of transparency and justice in wealth
distribution. This book explores these criticisms and discusses the
principles of Islamic finance that may be applied to macroeconomic
policymaking to create a better economy overall. It presents a case
for a flat tax system, to make the economy more resilient to
shocks, and financing methods that limit interest-rate-based debt
contracts and allow greater risk sharing among the market
participants on a broad scale. Using both qualitative and
quantitative methods, this book models the Malaysian economy based
on policies that apply the fundamental Islamic finance principle of
risk sharing to demonstrate its benefits in spurring growth,
promoting distributive justice, rendering the economy more stable,
strengthening the potency of monetary policy, enhancing fiscal
governance, and improving financial inclusion. The book will be of
interest to students, policymakers, financial institutions,
researchers, ministries of finance, central banks, securities
commissions, and anyone interested in alternative economic
paradigms.
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