@article{801219,
      recid = {801219},
      author = {Othman, Azura, and Sari, Norhanim Mat, and Othman  Alhabshi, and Mirakhor, Abbas,},
      title = {Macroeconomic policy and Islamic finance in Malaysia /},
      publisher = {Palgrave Macmillan,},
      address = {New York, NY :},
      pages = {1 online resource},
      year = {2017},
      abstract = {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.--},
      url = {http://library.usi.edu/record/801219},
      doi = {https://doi.org/10.1057/978-1-137-53159-9},
}