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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Yes, you can access Macroeconomic Policy and Islamic Finance in Malaysia by Azura Othman,Norhanim Mat Sari,Syed Othman Alhabshi,Abbas Mirakhor in PDF and/or ePUB format, as well as other popular books in Business & Financial Services. We have over one million books available in our catalogue for you to explore.

Information

Publisher

Palgrave Macmillan

Year

2017

ISBN

9781137531599

Topic

Business

Subtopic

Financial Services

Index

Business

Foreword
Preface
Acknowledgements
Contents
List of Figures
List of Tables
List of Appendixes
Chapter 1 Introduction
Chapter 2 Risk Transfer, Risk Sharing, and Islamic Finance
Chapter 3 Macroeconomic Policies and Risk Transfer
Chapter 4 Islamic Finance, Risk Sharing, and Macroeconomic Policies
Chapter 5 History of Islamic Finance in Malaysia
Chapter 6 Fiscal Policy and Islamic Finance: Malaysia
Chapter 7 Monetary Policy and Islamic Finance: Malaysia
Chapter 8 Policy Recommendations
Chapter 9 Concluding Remarks
Bibliography
Index