the latest instrument in islamic financial market is sukuk securities.   sukuk is a flexible stock securities that can meet the financial needs of firms in the capital markets. however, sukuk is considered as an alternative investment securities for bonds that receive usury which is forbidden in islam. the growth of  sukuk market in recent years, mainly due to its role in monitoring and control...

Based on the analysis of known literatures, this article constructs the sustainable development evaluation model of real estate market from four aspects, including the harmonious development with local economy, reasonable prices, structural balance and financial coordination. Second, This article empirical also analyzes the healthy development of Nanchang real estate market based on the BP neur...

This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. This paper examines the role of financial development and fin...

We construct a new indicator of financial development by estimating a regional effect on the probability that, ceteris paribus, a household is shut off from the credit market. By using this indicator we explore the real effects of regional differences in financial development. We find that financial development enhances the probability an individual starts his own business, favors entry, increa...

In this paper, I argue that the operation of the formal financial system is profoundly important for the poor. It influences how many people are hungry, homeless and in pain. It shapes the gap between the rich and the poor. It arbitrates who can start a business and who cannot, who can pay for education and who cannot, who can attempt to realize one’s dreams and who cannot. Finance affects the ...

This paper adopts a two-stage data envelopment analysis to explore the impacts of financial development and bank operating scale on bank efficiencies. The sample comprises unbalanced panel data of 32 Taiwanese listed domestic commercial banks over the period 1998 to 2013. Empirical results show that pure technical efficiency is positively related to financial development, whereas the effect of ...