ACHIEVING STEADY GROWTH BY ELIMINATING INTEREST RATE IN ISLAMIC MONETARY SYSTEM

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POURFARAJ A.R.

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

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Journal: JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH) Year:2006 | Volume:6 | Issue:3 Page(s): 131-154

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Title

ACHIEVING STEADY GROWTH BY ELIMINATING INTEREST RATE IN ISLAMIC MONETARY SYSTEM

Author(s)

POURFARAJ A.R. | Issue Writer Certificate

Keywords

INTEREST RATEQ2

USURYQ2

SEGREGATION OF MONEY AND CAPITAL MARKETQ3

STEADY ECONOMIC GROWTHQ2

Abstract

Separating money market from capital market in capitalism, rate of interest variable is one of the most important factors in reaching equilibrium in these two markets. In this method, investors by accepting a known rate of interest with an unknown income expectation, try to make investment decisions. This system is associated with risk-taking and trade cycle. But lack of segregation between money and capital market in Islamic monetary system, and INTEREST RATE as a function of income and prospective profits, the system lacks risk and trade cycle. This article theoretically attempts to show the efficiency of these two models for economic growth by introducing money demand model which is based on the lack of segregation between these two markets and Solo growth model. The result findings show that this model within a shorter time results in sustainable growth and the net effect of that on income increase and welfare is more than monetary system in capitalism.

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APA: Copy

POURFARAJ, A.R.. (2006). ACHIEVING STEADY GROWTH BY ELIMINATING INTEREST RATE IN ISLAMIC MONETARY SYSTEM. JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH), 6(3), 131-154. SID. https://sid.ir/paper/86548/en

Vancouver: Copy

POURFARAJ A.R.. ACHIEVING STEADY GROWTH BY ELIMINATING INTEREST RATE IN ISLAMIC MONETARY SYSTEM. JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH)[Internet]. 2006;6(3):131-154. Available from: https://sid.ir/paper/86548/en

IEEE: Copy

A.R. POURFARAJ, “ACHIEVING STEADY GROWTH BY ELIMINATING INTEREST RATE IN ISLAMIC MONETARY SYSTEM,” JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH), vol. 6, no. 3, pp. 131–154, 2006, [Online]. Available: https://sid.ir/paper/86548/en

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