Abstracts
Article data in English (انگلیسی)
A Review of Shahid Sadr’s Theory about the Fiqhi Pattern of Distributing Income among Production Agents according to Agency Theory
Adel Peighami/ Assistant professor of Economy College, Imam Sadiq University
Hassein sarabadani Tafreshi / PhD student of public management, Imam Sadiq University
Hamid Izad Bakhsh / MA student of management, policy-making subfield, Imam Sadiq University
Received: 2014/11/22 - Accepted: 2015/04/09
Abstracts
In the current economic literature, the interaction and relationships among the owners of production agents are studied within the framework of agency theory. Due to its concentration on analyzing the employer-employee relations, agency theory paves the way for investigating the basic question about the production owner in the theory of income distribution. Using an analytical method, this paper discusses the question whether or not Shahid Sadr’s theory about income distribution based on agency theory can contribute to its enhancement. According to the view reflected by the author of this paper, reviewing Shahid Sadr’s theory about income distribution based on the models of owner-operator contributes to promoting the level of discussions from scholastic and ideological to advanced theoretical discussion about microeconomics. The paper findings show that, when we consider the question raised about the identity of the owner or administer, the method of owner-operator in Shahid Sadr’s approach is heterogeneous and has the rules of a game which are consistent with the different contracts concluded between the owner and the agent. Reviewing Shahid’s theory about income distribution based on agency approach accounts for his emphasis on just social relationships. Therefore, Shahid Sadr’s theory of justice is not concerned with the distributive and posterior justice. Instead, it talks about procedural and anterior justice in the system of employee-employer relations.
Key words: Agency theory, Theory of income distribution, Shahid Sadr, Principal-agent model, Procedeural justice.
Classification JEL: Q56, G38, D33
The Factors Affecting the Distribution
of Income in the Iranian Provinces of Iran with Emphasis
on Qard al-Hasan Loans; A Bayesian Econometric Approach
Hossein Panahi / Associate Professor of Economics, University of Tabriz panahi@tabrizu.ac.ir
Sima Nasib Parast / PhD Student in Economics, University of Tabriz
Received: 2015/03/28 - Accepted: 2015/08/01 simanasibparast@yahoo.com
Abstracts
In conventional economics, emphasis is laid on the impact of such factors like taxes, economic growth, inflation and financing on income distribution. In the literature of Islamic economics, in addition to the aforementioned important variables, Qard al-Hassan (interest-free) loan is considered as a means of decreasing inequality. Using the data collected from different Iranian provinces in the period from 1384 to 1390 and using Bayesian econometric approach, this study conducts a scientific investigation into the effect of interest-free loan and other factors on Gini coefficient (as the most important indicator of income distribution). According to the hypothesis of this research, Qard al-Hassan played a positive role in ensuring optimum income distribution in Iran in the above-mentioned period. The results of using a Bayesian model averaging (BMA) show that Qard al-Hassan deposits in the above-mentioned period has a negative correlation with Gini coefficient and it has improved the income distribution in Iran. The results also indicate that there is a reverse U form Kuznets hypothesis about the relationship between economic development and income distribution in the economy of Iran.
Key words: Income distribution, Gini coefficient, Bayesian Model of Averaging (BMA), the economy of Iran, Qard al-Hassan.
An Introduction to the Determination
of Price and Quantity of Production in an Islamic Market
Seyyed Mohammad Kazem Rajaee Ramsheh / Associate professor of economics, IKI
Received: 2015/02/02 - Accepted: 2015/06/08 smk_rajaee@yahoo.co.uk
Abstracts
The question of determining price and quantity of production in Islamic market is among the main issues about microeconomics from an Islamic viewpoint. Using an analytical method, this paper elaborates on the view that, Islamic market, compared with perfect competition, has a higher level of production and a lower price. The research findings show that, in Islamic market the pious producer, who abides by shariah, thinks of ’’earning a lawful and fair profit in order to secure his/her livelihood and perform his/her religious and social responsibilities’’. This attitude leads to decrease in the costs and increase in the productivity of production plants and thus, making supply line of the production plant take right direction. High productivity and fairly low cost together with the other differences between Islamic market and perfect competition market, make Islamic market, under ideal conditions, have a higher level of production, lower prices, greater stability, higher efficiency and greater welfare.
Key words: Motives of a Muslim producer, Islamic production plant, the supply curve of a plant, Islamic market, Equilibrium quantity of Muslim producers.
Classification JEL: D13, P22, P4.
An Analysis of the Position of Induction in Shahid Sadr’s Method for Discovering the Islamic Economic School
Ali Jaberi/ Assistant professor of Economics, IKI jaberi@qabas.net
Mohammad Javad Ghasemi Asl Estehbanati/ PhD student of philosophy of Economics, IKI
Received: 2015/03/02 - Accepted: 2015/07/08 ghasemi2561@anjomedu.ir
Abstracts
One of the main questions about Shahid Sadr’s method of discovery is proving the validity of this approach in advancing normative theories of Islamic economics. Using an analytical method, this paper investigates the relationship between induction and method of discovery according to Shahid Sadr’s view. This paper assumes that, according to Shahid Sadr’s logical view, the validity of method of discovery in the field of validity and conclusive induction can be found imperfect. The research findings show that his theory of induction has sufficient competence for validating the method of discovery. In the method of discovery, the use of induction and the process of accumulation of indications are very distinct. The accumulation of indications contributes to promoting the contingency of the rank of Islamic normative theory from being supposition to certainty, because the increase in the probable value which is caused by the accumulation of indication raises the doubt that the stated theory depends on certain rules. Considering Shahid Sadr’s view about the question of probabilities, the increase in the scale of the mentioned probability leads to dispelling any doubts. The method of induction can render absolute all the proofs supporting the validity of the method of discovery, including the theory of social understanding, collective appearance, blocking and detachment.
Key words: Method of discovery, Theory of induction, Shahid Sadr.
Classification JEL: H73, B41
Sukuk al-Istisna’a and Microfinance in Deprived Areas
Mahmud Eisavi/ Assistant professor of economics, University of Allamah Tabatabai
A’zam Mahmudi/ MA student of economics, University of economic science
Received: 2015/04/04 - Accepted: 2015/09/13 mahmudi.azam@yahoo.com
Abstracts
Because deprived areas are lacking in infrastructures, they are not potentially capable of attracting investment. This situation highlights the necessity of financing the micro projects in deprived areas by government. Using an analytical method, this paper explores the possibility of using Istisna’a method of financing the micro projects in these areas. This paper assumes that sukkuk al-Istisna’a are a suitable way for microfinance in deprived areas. The research findings show that sukuk al-Istisna’a have a constructive role in achieving this aim. According to the proposed model, the process of microfinance begins with making an order to the bank for producing certain kind of goods by one of the public of private companies. This process being by introducing to the bank the names of production teams, signing a Istisna’a contract, issuing sukuk al-Istisna’a, microfinancing and finally delivering profits to the holders of the sukuk al-Istisna’a. The suggested model has many advantages, like; preparing the ground for boosting employment in deprived areas, collecting and making full use of micro resources, ensuring the sale of the products and creating a boom in production.
Key words: Sukuk al-Istisna’a, Microfinance, Deprived areas
Classification JEL: G24, R5, P4
Enforcing the Interest-free Banking Law, the Missing Link in Achieving the Goals of Banking System in the Islamic Republic of Iran
Hamid Asayesh/ Educator of Ayat-Allah Brojerdi University. hamid_asaiesh@yahoo.com
Seyed Ebrahim Hosseini Nasab / associate professor, Tarbiat Modarres University
Bahram Sahabi / Assistant professor of economics/Tarbiat Modarres University
Received: 2015/05/03 - Accepted: 2015/09/08 sahabi_b@modares.ac.ir
Abstracts
Although the passing of the interest-free banking law in Iran has paved the way for advancing towards Islamic banking, some problems have arisen in enforcing it. The findings of some researches do not support the idea that interest-free banking in Iran has positive effect on such variables like economic growth. This paper reviews the question whether or not enforcing the law on interest-free banking is among the concerns of the banking system in the country. The paper’s hypothesis is that since the time when the law on interest-free banking was passed in 1363, the banking system has shown no concern for its implementation. To evaluate this hypothesis, the method of hierarchical analysis for assessing the questionnaires concerning the opinions of 316 experts who have long experience and academic qualifications in banking was used. The results of this evaluation show that conducting free- interest banking transactions and achieving its goals have been a matter of concern to no one of the banks in the country. Stimulating this process requires extending the knowledge of Islamic banking and developing the culture of obeying the law.
Key words: Islamic banking, the Islamic Republic of Iran, Analytic Hierarchy Process (AHP), Interest-free banking law.
An Investigation into the Hierarchy
of Religious and Conventional Taxes, their Supplementarity or Substitution, with Emphasis on the Governmental Aspects of Khums and Zakat in the Islamic Economy of Iran
Abdol Al-Mohammad Kashiyan / PhD in economics at Imam Sadeq University
Ahmad Shabani/ Associate Professor of Economics/ Imam Sadeq University
Mohammad Mahi Askari/ Associate Professor of Economics/ Imam Sadeq University
Received: 2015/02/16 - Accepted: 2015/08/15
Abstracts
One of the important issues in Islamic economics is the question of determining the relationship between religious and conventional taxes. Using an analytical method, this paper studies the question whether or not religious taxes such as Khums and Zakat can be supplement to or a substitute for the conventional taxes, and if they are so, then which type should be considered as main income and which one as the supplementry income. According to the hypothesis of this research, the conventional taxes are the supplement to the religious taxes, and the basic principle in designing the tax system is the primacy of religious ttaxes. The research results indicate that in Islamic system, Khums and Zakat have priority over the conventional taxes. Furthermore, the conventional taxes can be added to the revenues of the Islamic government as secondary and supplementary types. The results of this study show that in the current state of the economy of Iran, neither of these two types of tax can serve as a substitute for the other.
Key words: Khums, Zakat, Tax, Religious Taxes, Conventional Taxes.
