Macroeconomic Policy and Islamic Finance in Malaysia

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...

Full description

Main Authors: Othman, Azura. (Author, http://id.loc.gov/vocabulary/relators/aut), Mat Sari, Norhanim. (http://id.loc.gov/vocabulary/relators/aut), Alhabshi, Syed Othman. (http://id.loc.gov/vocabulary/relators/aut), Mirakhor, Abbas. (http://id.loc.gov/vocabulary/relators/aut)
Corporate Author: SpringerLink (Online service)
Language:English
Published: New York : Palgrave Macmillan US : Imprint: Palgrave Macmillan, 2017.
Edition:1st ed. 2017.
Series:Financial Institutions, Reforms, and Policies in Muslim Countries
Subjects:
Online Access:https://doi.org/10.1057/978-1-137-53159-9
LEADER 04188nam a22005655i 4500
001 978-1-137-53159-9
003 DE-He213
005 20210626001739.0
007 cr nn 008mamaa
008 171011s2017 xxu| s |||| 0|eng d
020 |a 9781137531599  |9 978-1-137-53159-9 
024 7 |a 10.1057/978-1-137-53159-9  |2 doi 
050 4 |a HG187.4 
072 7 |a KFF  |2 bicssc 
072 7 |a BUS112000  |2 bisacsh 
072 7 |a KFF  |2 thema 
072 7 |a JBSR  |2 thema 
082 0 4 |a 332.091767  |2 23 
100 1 |a Othman, Azura.  |e author.  |4 aut  |4 http://id.loc.gov/vocabulary/relators/aut 
245 1 0 |a Macroeconomic Policy and Islamic Finance in Malaysia  |h [electronic resource] /  |c by Azura Othman, Norhanim Mat Sari, Syed Othman Alhabshi, Abbas Mirakhor. 
250 |a 1st ed. 2017. 
264 1 |a New York :  |b Palgrave Macmillan US :  |b Imprint: Palgrave Macmillan,  |c 2017. 
300 |a XXIII, 293 p. 22 illus.  |b online resource. 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
347 |a text file  |b PDF  |2 rda 
490 1 |a Financial Institutions, Reforms, and Policies in Muslim Countries 
505 0 |a 1. Introduction -- 2. Risk Transfer, Risk Sharing, and Islamic Finance -- 3. Macroeconomic Policies and Risk Transfer -- 4. Islamic Finance, Risk Sharing, and Macroeconomic Policies -- 5. The History of Islamic Finance in Malaysia -- 6. Fiscal Policy and Islamic Finance: Malaysia -- 7. Monetary Policy and Islamic Finance: Malaysia -- 8. Policy Recommendations -- 9. Concluding Remarks. 
520 |a 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. 
650 0 |a Finance, Public—Islamic countries. 
650 0 |a Economic policy. 
650 0 |a Asia—Economic conditions. 
650 1 4 |a Islamic Finance.  |0 https://scigraph.springernature.com/ontologies/product-market-codes/626040 
650 2 4 |a Economic Policy.  |0 https://scigraph.springernature.com/ontologies/product-market-codes/W34010 
650 2 4 |a Asian Economics.  |0 https://scigraph.springernature.com/ontologies/product-market-codes/W45010 
700 1 |a Mat Sari, Norhanim.  |e author.  |4 aut  |4 http://id.loc.gov/vocabulary/relators/aut 
700 1 |a Alhabshi, Syed Othman.  |e author.  |4 aut  |4 http://id.loc.gov/vocabulary/relators/aut 
700 1 |a Mirakhor, Abbas.  |e author.  |4 aut  |4 http://id.loc.gov/vocabulary/relators/aut 
710 2 |a SpringerLink (Online service) 
773 0 |t Springer Nature eBook 
776 0 8 |i Printed edition:  |z 9781137537232 
776 0 8 |i Printed edition:  |z 9781349711031 
776 0 8 |i Printed edition:  |z 9781349711024 
830 0 |a Financial Institutions, Reforms, and Policies in Muslim Countries 
856 4 0 |u https://doi.org/10.1057/978-1-137-53159-9 
912 |a ZDB-2-ECF 
912 |a ZDB-2-SXEF 
950 |a Economics and Finance (SpringerNature-41170) 
950 |a Economics and Finance (R0) (SpringerNature-43720)