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Markets and the role of government in an economy from Islamic perspective

Author

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  • Hasan, Zubair

Abstract

This paper explains the notion of market in historical perspective and the role markets play in free enterprise economies. It lists the major market failures and the role governments are expected to play in regulating and supplementing markets including the promotion of CSR from Islamic perspective. The discussion is limited to product and factor markets.

Suggested Citation

  • Hasan, Zubair, 2008. "Markets and the role of government in an economy from Islamic perspective," MPRA Paper 12233, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:12233
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    File URL: https://mpra.ub.uni-muenchen.de/12233/1/MPRA_paper_12233.pdf
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    References listed on IDEAS

    as
    1. Hasan, Zubair, 1992. "Profit Maximisation: Secular Versus Islamic," MPRA Paper 2820, University Library of Munich, Germany.
    2. Hasan, Zubair, 2005. "Islamic banking at the crossroads: theory versus practice," MPRA Paper 2821, University Library of Munich, Germany.
    3. Islahi, Abdul Azim, 1983. "Ibn Taimiyah's concept of market mechanism," MPRA Paper 18466, University Library of Munich, Germany, revised 13 Mar 1984.
    4. Hasan, Zubair, 2006. "Sustainable development from an Islamic Perspective: meaning implications and policy concerns," MPRA Paper 2784, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Juhro, Solikin M. & Syarifuddin, Ferry & Sakti, Ali, 2022. "Inclusive Welfare: On The Role of Islamic Public-Social Finance and Monetary Economics," MPRA Paper 113788, University Library of Munich, Germany.
    2. Shafiu Ibrahim Abdullahi, 2019. "Financing Afforestation in the Organization of Islamic Cooperation Countries: What Role for Islamic Economics and Finance? تمويل استزراع الغابات في دول منظمة التعاون الإسلامي: ما دور الاقتصاد والتمويل," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 32(2), pages 161-177, January.

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    More about this item

    Keywords

    Market; Invisible hand; Market failures; Islam norms; Trade; Role of state; CSR;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • D41 - Microeconomics - - Market Structure, Pricing, and Design - - - Perfect Competition
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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