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A comparative study of the Malaysian financial and economic policies in Islamic perspective, 1970-85

The estimated equations of Islamic general economic equilibrium for the Malaysian economy, for the period 1970-85, will now be examined in view of the actual changes that have taken place in Malaysia for the stated period. We shall then study the related policy issues and the potential for policy de...

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Main Authors: Choudhury, Masud Alam, Abdul Malik, Uzir
Format: Article
Language:English
Published: Universiti Utara Malaysia 1988
Subjects:
HB Economic Theory
Online Access:http://repo.uum.edu.my/841/1/Masud_Alam_Choudhury.pdf
http://repo.uum.edu.my/841/
http://ijms.uum.edu.my
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spelling my.uum.repo.8412010-08-24T06:34:25Z http://repo.uum.edu.my/841/ A comparative study of the Malaysian financial and economic policies in Islamic perspective, 1970-85 Choudhury, Masud Alam Abdul Malik, Uzir HB Economic Theory The estimated equations of Islamic general economic equilibrium for the Malaysian economy, for the period 1970-85, will now be examined in view of the actual changes that have taken place in Malaysia for the stated period. We shall then study the related policy issues and the potential for policy development in Islamic perspectives. The general forms of the estimated equations were found to reinforce the theoretical structure of the Islamic macro-economic system developed in an earlier work. By the same token the Keynesian element of the Islamic macroeconomic system were found to hold in our estimated model system. However, a critical examination on the stability of the IIS and ILM curves showed low levels of reliability on the estimated slopes of these curves expressed in the log-linear forms. The unstable nature of the slopes of IIS-equation was also reflected in the variable interrelationships within the expenditure sector equation; that is, as shown among income, investment and profit rate variables in their log-linear forms. Likewise, in the case of ILM-equation, the monetary sector equilibrium was found to be unstable. While such cases of instability, shown by the possible ambiguity of the slopes of 11s-ILM-equations, are consistent both with the Keynesian general equilibrium system and the Islamic macro-economic equilibrium, they must be interpreted now in relation to the actual economic changes in the Malaysian economy for the period 1970-85. Universiti Utara Malaysia 1988 Article PeerReviewed application/pdf en http://repo.uum.edu.my/841/1/Masud_Alam_Choudhury.pdf Choudhury, Masud Alam and Abdul Malik, Uzir (1988) A comparative study of the Malaysian financial and economic policies in Islamic perspective, 1970-85. Analisis, 3 (1&2). ISSN 0127-8983 http://ijms.uum.edu.my
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutionali Repository
url_provider http://repo.uum.edu.my/
language English
topic HB Economic Theory
spellingShingle HB Economic Theory
Choudhury, Masud Alam
Abdul Malik, Uzir
A comparative study of the Malaysian financial and economic policies in Islamic perspective, 1970-85
description The estimated equations of Islamic general economic equilibrium for the Malaysian economy, for the period 1970-85, will now be examined in view of the actual changes that have taken place in Malaysia for the stated period. We shall then study the related policy issues and the potential for policy development in Islamic perspectives. The general forms of the estimated equations were found to reinforce the theoretical structure of the Islamic macro-economic system developed in an earlier work. By the same token the Keynesian element of the Islamic macroeconomic system were found to hold in our estimated model system. However, a critical examination on the stability of the IIS and ILM curves showed low levels of reliability on the estimated slopes of these curves expressed in the log-linear forms. The unstable nature of the slopes of IIS-equation was also reflected in the variable interrelationships within the expenditure sector equation; that is, as shown among income, investment and profit rate variables in their log-linear forms. Likewise, in the case of ILM-equation, the monetary sector equilibrium was found to be unstable. While such cases of instability, shown by the possible ambiguity of the slopes of 11s-ILM-equations, are consistent both with the Keynesian general equilibrium system and the Islamic macro-economic equilibrium, they must be interpreted now in relation to the actual economic changes in the Malaysian economy for the period 1970-85.
format Article
author Choudhury, Masud Alam
Abdul Malik, Uzir
author_facet Choudhury, Masud Alam
Abdul Malik, Uzir
author_sort Choudhury, Masud Alam
title A comparative study of the Malaysian financial and economic policies in Islamic perspective, 1970-85
title_short A comparative study of the Malaysian financial and economic policies in Islamic perspective, 1970-85
title_full A comparative study of the Malaysian financial and economic policies in Islamic perspective, 1970-85
title_fullStr A comparative study of the Malaysian financial and economic policies in Islamic perspective, 1970-85
title_full_unstemmed A comparative study of the Malaysian financial and economic policies in Islamic perspective, 1970-85
title_sort comparative study of the malaysian financial and economic policies in islamic perspective, 1970-85
publisher Universiti Utara Malaysia
publishDate 1988
url http://repo.uum.edu.my/841/1/Masud_Alam_Choudhury.pdf
http://repo.uum.edu.my/841/
http://ijms.uum.edu.my
_version_ 1644277872513253376
score 13.211869

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