التوسع غير المنضبط في السيولة وأثره في الاستقرار الاقتصادي: رؤية الاقتصاد الإسلامي

الموضوعات

اقتصاد

روابط وملفات

التعريف والنوع

رقم الوثيقة

ef2392d1-17c2-4cfe-b9d6-1c5f2c2c866f

رقم العقد

0

نوع الوسائط

Crawler

نوع المحتوى

الرسائل العلمية

صيغة المصدر

رسائل ماجيستير

نوع الملف

pdf text

أسماء الملفات

1963184_1.pdf

بيانات النشر

ترجمة العنوان

Unrestrained Expansion in Liquidity and its Impact on Economic Stability: A Perspective of Islamic Economics

ألقاب المؤلفين

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اللغة

Arabic

المصدر والدورية

اسم المصدر

التوسع غير المنضبط في السيولة وأثره في الاستقرار الاقتصادي: رؤية الاقتصاد الإسلامي

المحتوى والصفحات

عدد الصفحات

0

ترجمة الملخص

This research shows the economic effects ,resulting from excessive liquidity, in light of the financial and banking developments ,in the period preceding the Global Financial Crisis in 2008.As mentioned the transition from banks-based finance, to markets-based finance ,which cause important changes, in terms of credit intermediation, and funding liquidity creation. These developments came as a whole, due to the growth of financial innovations, and shadow banking ,which based mainly on securitization and repurchase agreements. This research seeks to review the vision of Islamic economy, to the issues of the money and credit creation, and the expansion of sources of liquidity funding, in addition to review the potential contribution of Islamic finance principles, in reducing problems caused by the expansion of liquidity. The research has been shown that these developments, gave banks and financial institutions, considerable capacity for create and diversify its liquidity sources. Which became flexible and undisciplined nature, and this is mainly due to the use of debt, in order to create liquidity, through debt conversion, into tradable bonds, and can be used as a collateral, to get more liquidity .This made the financial sector is awash in liquidity, in the pre-crisis period, that appeared in high level of leverage, or levels of debt ,in the financial sector, which made it grow explosively, and away from the obtained growth in the real economy, this in turn led to the emergence of assets price bubbles (House Price Bubble). Accordingly it can characterize that crisis, as excess liquidity crisis, rather than a liquidity crisis. The research concluded that Islamic finance, although it can not be a substitute, or to be more stable, to Non-Islamic finance, but out of the debt issue, and relying on debt, in order to create liquidity, as well as the necessity to build financial system, away from the debt, as a solution to reduce the debt-based funding problems .The Islamic finance can be useful in the reduction the excess liquidity problems. Because Islamic finance requires linking funding to the existence of a real asset, making the liquidity creation, based on the existence of real assets, not based on debt, and this reduces the negative effects ,resulting from the disproportionate growth, between the financial economy and the real economy. Which contributes to reducing the probability of the emergence of asset price bubbles, and thus increases the probability financial stability, and therefore the stability of the overall economy.

كلمات الباحثين

Assets Price Bubbles, Banks-Based Finance, Debt, Debt-Based Funding, Economic Stability, Equity-Based Funding, Financial Stability, Global Financial Crisis, Islamic Finance, Liquidity, Markets-Based Finance, الأزمة المالية العالمية, الاستقرار الاقتصادي, الاستقرار المالي, التمويل الإسلامي, التمويل المبني علي الأسواق, التمويل المبني علي الديون, التمويل المبني علي المشاركة, التمويل المبني على المصارف, الديون, السيولة, فقاعات أسعار الأصول

إشراف وإعداد

الإشراف

فؤاد إسماعيل

الإعداد

كمال الحاج عبدو

الاقتباسات الببليوغرافية