This paper investigates the question of whether the phenomenon of Islamic finance who based on Shariah, or Islamic law is truly globalizing and spreading as a universal system of finance and banking. The paper also addresses various aspects of the globalization for Islamic finance, among other, the issue of the rise of Islamic banking in the world, Islamic jurisprudence and finance, global stan...

The world of finance faces the computational performance challenge of massively expanding data volumes, extreme response time requirements, and compute-intensive complex (risk) analyses. Simultaneously, new international regulatory rules require considerably more transparency and external auditability of financial institutions, including their software systems. To top it off, increased product ...

In many developing countries, pro‐poor entrepreneurship and innovation is facing a financing gap. Such innovation suffers from a lack of finance especially from the mainstream (or core) of the financial system. Instead, the little support that exists comes from alternative sources at the periphery of the financial system. This substantial gap in finance for rural PEBI, which remains unexplored,...

Simulation optimization is providing solutions to important practical problems previously beyond reach. This paper explores how new approaches are significantly expanding the power of simulation optimization for managing risk. Recent advances in simulation optimization technology are leading to new opportunities to solve problems more effectively. Specifically, in applications involving risk an...

In a multi-industry growth model, firms require external funds to conduct productivityenhancing R&D, and are limited by financing constraints. The cost of research differs across industries, so financing constraints hinder productivity growth in some industries more than in others. Equilibrium industry dynamics map into a differences-indifferences regression specification where industry growth ...

Introduction P roviding accessible, affordable, and high-quality long-term care services to an aging population presents a growing challenge to long-term care providers. As the oldest members of the baby boom generation approach retirement, federal and state policymakers are exploring policies to care for the increasing number of elderly and to finance expanding long-term care needs. Other conc...