Law Commons^™

The Rise Of Customary Businesses In International Financial Markets: An Introduction To Islamic Finance And The Challenges Of International Integration, Ali A. Ibrahim

Ali A Ibrahim

This paper demonstrates theoretical foundations of Islamic finance and their correlation with the Islamic finance industry. In this respect, the paper presents an over-all survey of the Islamic finance industry, Islamic-law injunctions pertaining to Islamic finance, quasi regulatory institutions, financial engineering, transaction structures and the evolving practices. The paper also highlights various areas of further research, a comprehensive treatment of which is critical to the continuing growth of Islamic finance in the international financial markets.

Geo-Politics, The ‘War On Terror’ And The Competitiveness Of The City Of London, Richard Woodward

Books/Book Chapters

No abstract provided.

Laws Against Bubbles: An Experimental-Asset-Market Approach To Analyzing Financial Regulation, Erik F. Gerding

Publications

This article analyzes the effectiveness of proposed and actual securities, financial, and tax laws designed to prevent, or dampen the severity of asset price bubbles, including laws designed to mitigate excessive speculation. The article employs experimental asset market research to measure the effectiveness of these anti-bubble laws in correcting mispricings. Experimental asset markets represent complex simulations of stock markets in which subjects trade securities over a computer network. These markets allow scholars to test causal links between legal policies and market effects in ways that empirical research alone cannot. With these virtual markets, researchers can identify asset price bubbles - …

Laws Against Bubbles: An Experimental-Asset-Market Approach To Analyzing Financial Regulation, Erik F. Gerding

Erik F. Gerding

This article analyzes the effectiveness of proposed and actual securities, financial, and tax laws designed to prevent, or dampen the severity of asset price bubbles, including laws designed to mitigate "excessive" speculation. The article employs experimental asset market research to measure the effectiveness of these "anti-bubble laws" in correcting mispricings. Experimental asset markets represent complex simulations of stock markets in which subjects trade securities over a computer network. These markets allow scholars to test causal links between legal policies and market effects in ways that empirical research alone cannot. With these virtual markets, researchers can identify asset price bubbles - …

When Fragile Become Friable: Endemic Control Fraud As A Cause Of Economic Stagnation And Collapse, William K. Black

Book Chapters

Individual “control frauds” cause greater losses than all other property crime combined. They are financial super-predators. Control frauds are crimes by the head of state or CEO that use the nation or company as a “weapon.” Waves of “control fraud” can cause economic collapses, discredit institutions vital to governance, and erode trust. Fraud’s defining element is deceit – the criminal creates and then betrays trust. Fraud erodes trust. Endemic control fraud causes institutions and trust to crumble and produces economic stagnation.

Economic theory about fraud is underdeveloped, economists are not taught about fraud mechanisms, and economists minimize the incidence and …