Stabilization and Growth in an Open Islamic Economy.
Islam proposes the replacement of an interest-based financial system with one which operates on the basis of risk and profit sharing. Using a general equilibrium model, this paper investigates some open-economy implications of the adoption of Islamic banking for growth and stabilization of the econo...
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| Формат: | Журнал |
| Мова: | English |
| Опубліковано: |
Washington, D.C. :
International Monetary Fund,
1988.
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| Серія: | IMF Working Papers; Working Paper ;
No. 1988/022 |
| Онлайн доступ: | Full text available on IMF |
| Резюме: | Islam proposes the replacement of an interest-based financial system with one which operates on the basis of risk and profit sharing. Using a general equilibrium model, this paper investigates some open-economy implications of the adoption of Islamic banking for growth and stabilization of the economy. It analyzes the long-run effects of Islamic banking on international capital flows and on the economy's capacity to adjust to disturbances. It concludes that monetary policy can be used effectively for stabilization purposes and that disturbances to asset positions are absorbed efficiently in an Islamic financial system. |
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| Опис примірника: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Фізичний опис: | 1 online resource (28 pages) |
| Формат: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| Доступ: | Electronic access restricted to authorized BRAC University faculty, staff and students |