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On the pareto-optimality of futures contracts over Islamic forward contracts: implications for the emerging Muslim economies

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  • Ebrahim, M. Shahid
  • Rahman, Shafiqur

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  • Ebrahim, M. Shahid & Rahman, Shafiqur, 2005. "On the pareto-optimality of futures contracts over Islamic forward contracts: implications for the emerging Muslim economies," Journal of Economic Behavior & Organization, Elsevier, vol. 56(2), pages 273-295, February.
    • Handle: RePEc:eee:jeborg:v:56:y:2005:i:2:p:273-295
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    1. Mehra, Rajnish & Prescott, Edward C., 1985. "The equity premium: A puzzle," Journal of Monetary Economics, Elsevier, vol. 15(2), pages 145-161, March.
    2. Lucas, Robert E, Jr, 1978. "Asset Prices in an Exchange Economy," Econometrica, Econometric Society, vol. 46(6), pages 1429-1445, November.
    3. Mr. Luca Errico & Ms. Mitra Farahbaksh, 1998. "Islamic Banking: Issues in Prudential Regulations and Supervision," IMF Working Papers 1998/030, International Monetary Fund.
    4. J. Hirshleifer, 1975. "Speculation and Equilibrium: Information, Risk, and Markets," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 89(4), pages 519-542.
    5. Breeden, Douglas T, 1980. "Consumption Risk in Futures Markets," Journal of Finance, American Finance Association, vol. 35(2), pages 503-520, May.
    6. Varian, Hal R, 1987. "The Arbitrage Principle in Financial Economics," Journal of Economic Perspectives, American Economic Association, vol. 1(2), pages 55-72, Fall.
    7. Bacha, Obiyathulla I., 1999. "Derivative Instruments and Islamic Finance: Some Thoughts for a Reconsideration," MPRA Paper 12752, University Library of Munich, Germany.
    8. David Hirshleifer, 1988. "Residual Risk, Trading Costs, and Commodity Futures Risk Premia," The Review of Financial Studies, Society for Financial Studies, vol. 1(2), pages 173-193.
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    Cited by:

    1. Beck, Thorsten & Demirgüç-Kunt, Asli & Merrouche, Ouarda, 2013. "Islamic vs. conventional banking: Business model, efficiency and stability," Journal of Banking & Finance, Elsevier, vol. 37(2), pages 433-447.
    2. Ghlamallah, Ezzedine & Alexakis, Christos & Dowling, Michael & Piepenbrink, Anke, 2021. "The topics of Islamic economics and finance research," International Review of Economics & Finance, Elsevier, vol. 75(C), pages 145-160.
    3. M. Shahid Ebrahim & Seema Makhdoomi & Mustapha Sheikh, 2012. "The Political Economy and the Perennial Underdevelopment of the Muslim World," Working Papers 12011, Bangor Business School, Prifysgol Bangor University (Cymru / Wales).
    4. Ajili, Wissem & Gara, Zeineb Ben, 2013. "Quel Avenir Pour La Finance Islamique En Tunisie ?," Etudes en Economie Islamique, The Islamic Research and Training Institute (IRTI), vol. 7, pages 31-70.
    5. Zia-ur-Rehman Rao & Muhammad Zubair Tauni & Amjad Iqbal, 2015. "Comparison between Islamic and General Equity Funds of Pakistan: Difference in Their Performances and Fund Flow Volatility," Emerging Economy Studies, International Management Institute, vol. 1(2), pages 211-226, November.
    6. Alsayyed, Nidal, 2009. "The Guide to Islamic Economics, Banking, and Finance," MPRA Paper 20128, University Library of Munich, Germany.

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