With cross-section data from 53 emerging and mature markets, we provide evidence that equity premium puzzle is a global phenomenon. In addition to risk aversion, equity premium may reflect ambiguity aversion. We explore the sources of equity premium using some pertinent fundamental independent...

"This book focuses on conceptualizing the process of economic adjustment and growth, and testing it with empirical methods. The authors begin with a review of the neoclassical growth model, before delving into more specialized topics such as endogenous growth, adaptive inflationary expectations,...

"This book provides an introduction to the vision of an economic system based completely on the Holy Qur’an—a system defined as a collection of institutions, representing rules of behavior, prescribed by Allah for humans, and the traditions of the Messenger. The authors argue that the main...

Chapter 1: Polar visions of the Economy -- Chapter 2: Critiques of Mainstream Economic Doctrines -- Chapter 3: Critiques of the Current State of Islamic Economics -- Chapter 4: Ethics of Iqtisaad -- Chapter 5: Islamic Perspectives on the Cycle of Civilization and Problem of Knowledge -- Chapter...