期刊名称：Journal of Islamic Monetary Economics and Finance
印刷版ISSN：2460-6146
电子版ISSN：2460-6618
出版年度：2015
卷号：1
期号：1
页码：79-106
语种：English
出版社：Bank Indonesia
摘要：The action of one person will affect the others and then the action of one country will affect other countries.Financial crisis is like a contagious disease,which spreads everywhere.The failure in capturing systemic risk is theinterconnected market events ('network externalities') can produce self-reinforcingcycles then create the harmful situation.What happened in the bankingregulation particularly Basel 11? In reality,Basel 11 did not work completely in 2008.Since the implementation of risk management based on Basel I1 has been aprerequisite for a bank,it is supposed to make a positive impact.Misplacedreliance on mathematical model and statistics in managing risk could one of theproblems in the decision making process,Using system thinking,system dynamicsparadigm and theory of feedback system,this paper tries to see the riskmanagement from different perspective and to enrich the understanding of howfinancial systems work: what drives them and causes the behavior.Many lessonscan be leamt from this financial contagion since Islamic banking and financesystem has inevitably been a part of the international financial systems.
