The purpose of this paper is to explore poverty crisis in Bangladesh with a view to developing an Islamic Instrument-Based Model (IIBM) as an alternative policy response to its devastating socio-economic and political consequences. The proposed IIBM would be a desirable paradigm because it theoretical and theological justifications in the Qur’an and Sunnah, as opposed to most conventional poverty reduction strategy programmes (PRSPs) that are viewed in Bangladesh with suspicion and cynicism. The proposed IIBM is a synergy of three socio-economic constructs of Zakat, Waqf and Islamic Corporate Social Responsibility (ICSR). The research method is qualitative, while the technique for data sourcing is archival strategy. The sourced data were critically analyzed using content analysis on the basis of which rational proofs were provided to support a case for IIBM. The study reveals that limitation of taking sustainable poverty alleviation program is the main cause of poverty crisis and street begging. Consequently, economic discrimination is enhancing day by day which tends to raise poverty crisis and street begging. This study also state that implementation of zakat, waqf and CSR as an obligatory transfer payment like tax by the government of the state will help the poor and street beggar to be self reliance that will lead to eradicate poverty and street begging to a great extent. The paper concludes calling on the policymakers in Bangladesh and development scholars’ to adopt IIBM.

     The overall macroeconomic situation and the stage of financial developments in low income inflation targeting countries reduce the effectiveness of monetary policy transmission mechanism. Therefore, thorough understanding of the possibilities for improvements in monetary transmission was of a great interest and inspired this research. Following the research objectives, based on the case of Armenia a proxy variable for the strength of monetary pass-through was estimated empirically, and then was used in the second stage of the analyses to assess the relationship with its main determinants. Finally, the conclusions served as valuable recommendations for monetary authorities in the examined country.

     This paper examines the validity of the behavioral explanations of the momentum effect. Although, the momentum effect seems to be captured by the risk based asset pricing models, there are behavioral explanations given for the existence of the momentum effect. Barberis, Shleifer and Vishny (BSV) (1998) and Daniel, Hirshleifer and Subrahmanyam (DHS) (1998) are the two most logical behavioral explanations for the existence of the momentum effect. However, it is difficult to reach any conclusion regarding the validity of theses behavioral explanations without testing them in real markets. This study introduces an event based method to test empirical validity of the behavioral explanations of the momentum effect. By applying the event based method in the Colombo Stock Exchange over the period from 2005 to 2013, it is found that investors’ conservative behavior suggested by BSV (1998) seems to be contributed to the momentum effect in the Colombo Stock Exchange. However, overreaction hypothesis of DHS (1998) has been rejected.

     The purpose of this empirical, experimental paper is to analyze the link between Finance and short-run Growth among three groups of countries divided by income. In particular, following the recent empirical literature, we are interested to observe if the link is always enjoyed and/or if the mechanisms of transmission between finance and growth are different at different stage of development. To obtain more information we introduce a recent measure of macroeconomic stability. The results confirm that we can observe some form of relationships between finance and growth just in developing and developed countries but not in poor countries. Also, the role of macroeconomic stability appears crucial in the “transition path” and we have a suggestion about the different mechanisms of transmission that are working in the three groups.