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Overaccumulation of financial capital at the expense of the real sector resulted in falling wages as well as in the most recent global financial crisis. This is a topic of increasing interest, as the idea that some developed economies have reached a stage of overfinancialization has gained some...
Persistent link: https://www.econbiz.de/10011108924
The logical derivation of the two-factors model (The CAPM) is not empirically testable. This has paved the way for new treatments of asset pricing. However, the deterministic approach taken by most economists has prevented them to create a more useful treatment to the problems of asset pricing...
Persistent link: https://www.econbiz.de/10011109251
In this paper, the foundational rules governing human, economic and financial development in Islam, as understood from the Quran and from the life and traditions of the Prophet Muhammad (pbuh), are summarized. These rules pave the path to development as the basis of institutional structure,...
Persistent link: https://www.econbiz.de/10011110896
The aim of this paper is to prove that if the consumption set of an economy with incomplete financial markets is semi-algebraic, then the corresponding pseudo-equilibrium manifold is also semi-algebraic. For this, we proceed by constructing an incomplete financial economy with real assets and...
Persistent link: https://www.econbiz.de/10011111134
Shipping sector constitutes a sector with special characteristics that considerably differentiate it from the other sub-sectors of international transport. The maximisation of benefits for each one of the special market characteristics form a highly dynamic environment, with high risk of loss of...
Persistent link: https://www.econbiz.de/10011112142
further adds to their burden and worsens their economic situation. Micro finance is the supply of loans, savings, and other … basic financial services to the poor. The idea of micro finance was developed as a survival strategy for the poor. In India … impact of micro finance in more than 24 countries have found dramatic improvements in household income levels. This paper …
Persistent link: https://www.econbiz.de/10011112151
The purpose of preliminary is to present a broad agenda of theoretical and empirical modeling about the fundamental links between the quality of governance, financial development and economic development. The main theoretical predictions and evidence are of a large importance in terms of...
Persistent link: https://www.econbiz.de/10011112584
With the spectre of the Euro crisis looming substantially large and scaring potential monetary unions, this study is a short-run trip to embryonic African monetary zones to assess the Schumpeterian thesis for positive spillovers of financial services on growth. Causality analysis is performed...
Persistent link: https://www.econbiz.de/10011112651
This paper is to summarize the literature on finance-innovation link and produce evidence that the development of …
Persistent link: https://www.econbiz.de/10011114096
In Chinese culture, certain digits are lucky and others unlucky. We test how such numerological superstition affects financial decision in the China IPO market. We find that the frequency of lucky numerical stock listing codes exceeds what would be expected by chance. Also consistent with...
Persistent link: https://www.econbiz.de/10011114296