Risk sharing and the systemic fragilities of debt-economy

Authors

  • Abbas Mirakhor

Abstract

This study explains risk transfer, associated with debt-based
financing, as the main cause of financial crises in the world. It presents the case
for a financial architecture based on risk sharing that, in turn, is likely to make
the financial system less fragile and more stable. This study also highlights the
significance of Islamic finance in this regard.

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Published

2018-11-18

How to Cite

Mirakhor, A. (2018). Risk sharing and the systemic fragilities of debt-economy. Intellectual Discourse, 26(2), 291-308. Retrieved from https://journals.iium.edu.my/intdiscourse/index.php/islam/article/view/1194