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Book Cover
Author Mirakhor, Abbas, author

Title Stabilization and growth in an open Islamic economy / prepared by Abbas Mirakhor and Iqbal Zaidi
Published [Washington, D.C.] : International Monetary Fund, 1988
Online access available from:
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Description 1 online resource (iii, 24 pages) : illustrations
Series IMF working paper ; WP/88/22
IMF working paper ; WP/88/22
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 "February 25, 1988."
Bibliography Includes bibliographical references (pages 23-24)
Notes Print version record
Subject Banks and banking -- Islamic countries -- Mathematical models.
Economics -- Religious aspects -- Islam.
Islam -- Economic aspects.
Form Electronic book
Author Zaidi, Iqbal Mehdi, author
International Monetary Fund, issuing body
ISBN 145528162X