This paper examines the causes and policy implications of the 1997-98 financial crises in East Asia from an Islamic perspective. The paper suggests that the crises may be better understood as consequences of internal contradictions in the interest-based financial system as regards risk and...

This paper discusses the role of labor market flexibility in economic adjustment during the 1970s and the 1980s decades in developing countries in Asia, Latin America, the Middle East and Africa. In the first part of the paper it is argued that the success of the Asian countries to adjust to...