Cizakca, Murat (2012): Finance and economic development in Islam, historical perspective.
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ABSTRACT This article first identifies the basic theoretical characteristics of an Islamic economy as discussed by contemporary Muslim economists. Then inquires whether these characteristics were ever implemented in history. The next question tackled concerns the consequences. The author asks whether an Islamic economy has ever led to sustained economic growth. In view of the powerful evidence, the answer to the question is a resounding and definitive, `yes`. An attempt has also been made to explain the institutional mechanisms by which this success has been achieved. Finally, the question of decline is also tackled followed by policy proposals to remedy the situation.
|Item Type:||MPRA Paper|
|Original Title:||Finance and economic development in Islam, historical perspective|
|English Title:||Finance and economic development in Islam, historical perspective|
|Keywords:||Islamic capitalism, economic development and Islam,Economic decline and Islam|
|Subjects:||Z - Other Special Topics > Z1 - Cultural Economics; Economic Sociology; Economic Anthropology > Z12 - Religion
N - Economic History > N0 - General > N00 - General
N - Economic History > N4 - Government, War, Law, International Relations, and Regulation > N40 - General, International, or Comparative
|Depositing User:||Murat Cizakca|
|Date Deposited:||18. Oct 2012 14:57|
|Last Modified:||12. Feb 2013 11:35|
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