Islamic finance industry mostly uses LIBOR linked financial contracts which are akin to debt financing than the more preferable participatory modes of Mudarabah and Musharakah. As per the current orthodox understanding and practice of Islamic finance, the often cited preferable modes like...

In this article we test the relationship between per capita income differential and exchange rate differential between two different economic background countries. Recent researches have been done on the testing of international Fisher effect, Interest rate, GDP growth rate and purchasing power...

Eastern Europe is one of the fastest growing transition economies of the world. The post-socialist countries of Central and Eastern Europe, especially the Czech Republic, Hungary and Poland, continue to undergo a radical economic reform program via microeconomic liberalization, macroeconomic...

This paper explores whether law reforms in Arab countries have contributed to their economic development, business legal environment and integration into the international market. Using Jordan as an example, it explores the role of law in economic development in the region. The analysis finds...

Consumer advocates won a victory with the passage of the Credit Card Accountability Responsibility and Disclosure Act of 2009. (Credit Card Act). The Credit Card Act bans certain pricing practices that were confusing to credit card users. Ironically, the seeds of this legislative victory may...

Viewing property rights as a “bundle of sticks” can be descriptively clarifying because the law commonly entitles an owner of a particular resource to split up entitlements in it. Nonetheless, Thomas Merrill and Henry Smith, the most prominent critics of the metaphor, assert that this...

Amicus Brief submitted in the Bankruptcy of Lyondell Chemical Company, analyzing fraudulent transfer issues by applying the techniques developed in "Leveraged Buyout Bankruptcies, the Problem of Hindsight Bias, and the Credit Default Swap Solution" - http://ssrn.com/abstract=1632084

Securitisation issuance has slumped in recent years, with the market having become increasingly dependent on central bank and government support in both Europe and the United States. Despite facing a number of threats that could inhibit a recovery in the shorter term, the securitisation market...

The secession of the South was officially proclaimed on Monday 7 February 2011. That marked the beginning of a new era in the history of the Sudan. However, that was not passively or heedlessly received by the Sudanese, as has been wrongly promulgated by some mass media. The mass of the Sudanese...

This research tries to study money illusion phenomenon among middle-lower income people living on the area Jakarta. Questioner adopted from Pujiastuti (2001) which modifies Shafir's et al.(1997) is used to interview 90 respondents finding their attitude on 2 aspects of money illusion, i.e....