A moral Shield for Black Swans: the 2008 financial Crisis and Islamic Banking in Souhteast Asia and The Mena Region

Apaydin’s work is situated at the intersection of comparative politics and development economics, with a particular emphasis on political economy. In particular, she focuses on how local actors in emerging economies respond to global pressures that impose greater economic uncertainties. In exploring these dynamics, she is especially concerned with the processes through which economic stakeholders (such as businessmen, consumer groups, labor unions and the politicians) negotiate a balanced sharing of socio-economic risks.
The aim of this research is to test the influence of moral values on mitigating risk-taking at an institutional level (taking into accountthe influence of the social & political context on the outcomes). The case study consists in finding why within Islamic banks, constrained by religious codes & shaped by their national context, one can observe big variations in results and responses to market risk.

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