TY  - BOOK
AU  - Othman,Azura
AU  - Mat Sari,Norhanim
AU  - Alhabshi,Syed Othman
AU  - Mirakhor,Abbas
ED  - SpringerLink (Online service)
TI  - Macroeconomic Policy and Islamic Finance in Malaysia
T2  - Financial Institutions, Reforms, and Policies in Muslim Countries
SN  - 9781137531599
AV  - HG187.4 
U1  - 332.091767 
PY  - 2017///
CY  - New York
PB  - Palgrave Macmillan US, Imprint: Palgrave Macmillan
KW  - Finance, Public-Islamic countries
KW  - Economic policy
KW  - Asia-Economic conditions
KW  - Islamic Finance
KW  - Economic Policy
KW  - Asian Economics
N1  - 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
N2  - 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
UR  - https://s443-doi-org.br.lsproxy.net/10.1057/978-1-137-53159-9
ER  -