You are looking at 1 - 10 of 40 items

  • Author or Editor: David G. Mayes x
Clear All Modify Search
You do not have access to this content

Larry D. Wall, María J. Nieto and David G. Mayes

This content is available to you

Edited by Masahiro Kawai, David G. Mayes and Peter Morgan

This content is available to you

Edited by Masahiro Kawai, David G. Mayes and Peter Morgan

You do not have access to this content

Edited by Masahiro Kawai, David G. Mayes and Peter Morgan

In light of the experience of the global financial crisis, this book develops concrete recommendations for financial sector reform and regulation in Asian economies aimed at preventing the recurrence of systemic financial crises, improving the ability to manage and resolve crises, managing capital flows and promoting the development of Asian bond markets.
You do not have access to this content

Nigel Grimwade, David G. Mayes and Jiao Wang

You do not have access to this content

Faisal Alqahtani and David G. Mayes

The global financial crisis (GFC) has provided an opportunity to test a number of well-known hypotheses about the relative advantages of conventional banks and those following Islamic principles. In particular, it has been hypothesized that Islamic banks should be more stable in that they do not use some of the more exotic products that were the subject of major losses in the United States. Furthermore, since they practise risk sharing through joint stakes in projects rather than simply charging interest on debt finance, it has been suggested that they ought to be less prone to failure in a downturn because the value of their liabilities will be reduced at the same time as asset values fall. Hence, the pressure on capital to cover losses should be smaller than in the commercial banks. However, the argument is not one way because at the same time Islamic banks are forgoing the opportunity to use a number of well-known derivative products that help manage risk. The net effect is therefore more debatable. Our chapter examines four phases in the global financial crisis. In the analysis, we find that experience is not well aligned with the theoretical expectations, in part because Islamic banks have tried to emulate the effect of conventional instruments and designed shariah-compliant products that have similar effects, hence reducing the potential degree to which the two sets of banks are different.

You do not have access to this content

Edited by John Farrar and David G. Mayes

The recent global financial crisis has challenged conventional wisdom, and our conception of globalisation has been called into question. This challenging and timely book revisits the relationship between globalisation, the crisis and the state from an interdisciplinary perspective, with law, economics and political science underpinning the analysis.
This content is available to you

Edited by David G. Mayes and Mark Thomson

This content is available to you

Edited by David G. Mayes and Mark Thomson

You do not have access to this content

Edited by David G. Mayes and Mark Thomson