Franklin

Stabilization and Growth in an Open Islamic Economy [electronic resource]

Author/Creator:
International Monetary Fund
Publication:
Washington, D.C. : International Monetary Fund, 1988.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 88/22.
IMF Working Papers; Working Paper No. 88/22
Format/Description:
Government document
Book
1 online resource (28 p.)
Local subjects:
Bank balance sheet.
Bank deposits.
Bank equities.
Bank equity.
Bank holdings.
Bank intermediation.
Bank lending.
Bank loan.
Bank loans.
Bank reserves.
Banking.
Banking firm.
Banking sector.
Banking system.
Banking systems.
Capital accumulation.
Capital flows.
Capital inflow.
Capital inflows.
Capital market.
Capital markets.
Capital outflows.
Capital stock.
Commodity markets.
Cost of capital.
Credit control.
Current account deficit.
Debt instrument.
Discount rates.
Efficiency of capital.
Equity shares.
Excess demand.
Exogenous shocks.
External capital.
Financial securities.
Foreign asset.
Free banking.
International capital.
International capital flows.
International reserve.
Investment spending.
Present value.
Private bank.
Private equity.
Private equity markets.
Reserve ratio.
Reserve requirement.
Return on equity.
Return on investment.
Risk aversion.
Savings behavior.
Stabilization policies.
World capital markets.
Iran, Islamic Republic of.
Pakistan.
Summary:
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.
Notes:
Description based on print version record.
Contributor:
International Monetary Fund
Other format:
Print Version:
ISBN:
1451921136:
9781451921137
ISSN:
1018-5941
Publisher Number:
10.5089/9781451921137.001
Access Restriction:
Restricted for use by site license.
Location Notes Your Loan Policy
Description Status Barcode Your Loan Policy