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    • Stabilization and Growth in an Open Islamic Economy | Universitas Islam Bunga Bangsa Cirebon Islam proposes the replacement of an interest-based financial system with one which operates on the basis ..."> Islam proposes the replacement of an interest-based financial system with one which operates on the basis ..."/>
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    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 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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    36290
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    Judul Seri
    -
    No. Panggil
    36290
    Penerbit
    : International Monetary Fund.,
    Deskripsi Fisik
    28
    Bahasa
    ISBN/ISSN
    1451921136
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