This paper considers how a system of profit and loss sharing arrangements as an alternative to the interest system curbs financial instability and modifies banking and government's economic role. The profit-loss sharing system would result in a more stable level of investment and financial...

Handbook on Islam and Economic Life is a unique study, one of the first of its kind to consider Islam within a broader economic sphere. Covering a wide breadth of topics and research, it explores how Islam impinges upon and seeks to shape major aspects of economic life including economic...

This paper investigates the relationship between money, prices, output, and the exchange rate in Bangladesh during the 1974?92 period. Several interesting conclusions can be derived from the paper. First, the inflationary process in Bangladesh cannot be explained exclusively by the monetarist or...

Microlending is widely seen as a development program that has worked for the world's poor. But there has been inadequate study of the results. The authors undertook a pilot study in Bangladesh, and their results are deeply disappointing. A high proportion of loans are taken for consumption, not...

During the 1970s the Indonesian economy grew at a rapid rate. This growth was primarily attributable to the government’s oil revenue and massive expansion of public sector in Indonesia. However, the decline in oil price of the 1980s adversely affected the growth and stability of the economy....

The objective of this article is to investigate the relationship between development of the financial sector and economic growth for South Africa. For this purpose, we data for 1965-2007 and set the estimation strategy under the ARDL framework. Importantly, four indicators for the financial...