The logic of financial westernization in the Middle East
نام نخستين پديدآور
/ Timur Kuran
یادداشتهای مربوط به خلاصه یا چکیده
متن يادداشت
In the 19th century, financial reforms in the Middle East included the legalization of interest, the establishment of secular courts, and banking regulations, all based onWestern models. Exploring why foreign institutions were transplanted, this article shows that Islamic law blocked evolutionary paths that might have generated financial modernization through indigenous means. Sources of rigidity included (1) the Islamic law of commercial partnerships, which limited enterprise continuity, (2) the Islamic inheritance system, which restrained capital accumulation, (3) the waqf system, which inhibited resource pooling, and (4) Islam’s traditional aversion to the concept of legal personhood, which hampered private organizations.
قطعه
عنوان
Journal of Economic Behavior & Organization
شماره جلد
, Vol. 56
تاريخ نشر
, 2005
توصيف ظاهري
: P. 593-615
موضوع (اسم عام یاعبارت اسمی عام)
موضوع مستند نشده
Islam
موضوع مستند نشده
Middle East
موضوع مستند نشده
Development
موضوع مستند نشده
Finance
موضوع مستند نشده
Interest
نام شخص به منزله سر شناسه - (مسئولیت معنوی درجه اول )