This paper studies the impact of financial development on asset valuation. We model the agency theoretic perspective of risk-averse investors and financiers in a general equilibrium setting under the framework of rational expectations (i.e., symmetric information). We focus on real estate, as it...

This paper studies the current realities of the Islamic banking system of Brunei Darussalam from the perspective of the theories of modern financial intermediation and Islamic financial contracting. The limited information on the banking system of Brunei Darussalam reveals that the first phase...