Kitap Bölümü İktisadi Düşünce
Economics of profit-sharing
- Yazarlar : Muhammad Nejatullah Siddiqi
- Editörler : Z. Ahmad M. Fahim Khan
- Kodu: 6344
- Eserin Orjinal İsmi: Economics of profit-sharing
- Türü: Kitap Bölümü
- Alan: İktisadi Düşünce
- Konu(lar): Ekonomi, Kâr paylaşımı
- Dili: İngilizce
- Kitap Ismi: Fiscal Policy and Resource Allocation in Islam
- Yayın Yeri: Jeddah
- Yayınevi: International Centre for Research in Islamic Economics. King Abdulaziz University and Institute of Policy Studies. Islamabad
- Sayfa Aralığı: 163-185
- Keywords: Economics, Profit-sharing
- Anahtar Kelimeler: Ekonomi, Kâr paylaşımı
- Açıklama: The main objective of the paper is to demonstrate that replacement of interest by a system of profit-sharing will cause no problems as regards its smooth functioning and stability. It discusses how the ratios of profit-sharing will be determined. It is envisaged that in an Islamic economy. “the rate of interest paid by commercial banks to depositors will be replaced by a percentage share in the profits accruing to the banks”, henceforth called drp. Similarly, Banker’s Rate of Profit-sharing (brp) is defined as “the percentage share of the entrepreneur’s profit accruing to the banks”. It studies the effects of changes in the expected rate of profits on these ratios and the alternative possibilities as regards the responsiveness of supply and demand for deposits to the changes in the expected rates of profits. It examines and refutes the contention that a system based on profit sharing must be unstable and subject to wide fluctuations. The paper demonstrates that the system gains in efficiency by assigning the allocative role to the rate of profit without the disturbing interference from the rate of interest. The author has based his analysis on certain assumptions. It recognises multiplicity of objectives in an Islamic economy both at the entrepreneurial and financier’s level but assumes that decision making in the private sector is based on the profit motive. It also assumes competitive behaviour, a closed economy and existence of positive profits at all times at the macro-economic level. Profit is defined in the accounting sense of the term. It is argued that “these ratios may change in response to changes in the rate of profit expected by the entrepreneur but they have a tendency to move back towards their original level. The entrepreneurial rate of profit itself will be less prone to fluctuations because of the changed behaviour of the financial sector which is presently the major source of fluctuations. The Central Bank will be in a position to mitigate the effects of these fluctuations by regulating the supply of money through a number of policy instruments available to it. The impact of such fluctuations as still remain will be communicated back to the ultimate savers in a much reduced degree.
- Bilgilerin Alındığı Kaynak: Bibliografya Kaydı
Kitap Bölümü
Economics of profit-sharing
Yazarlar : Muhammad Nejatullah Siddiqi
Editörler : Z. Ahmad M. Fahim Khan
Detaylar
| Kodu | 6344 |
| Eserin Orjinal İsmi | Economics of profit-sharing |
| Türü | Kitap Bölümü |
| Alan | İktisadi Düşünce |
| Konu(lar) | Ekonomi, Kâr paylaşımı |
| Dili | İngilizce |
| Kitap Ismi | Fiscal Policy and Resource Allocation in Islam |
| Yayın Yeri | Jeddah |
| Yayınevi | International Centre for Research in Islamic Economics. King Abdulaziz University and Institute of Policy Studies. Islamabad |
| Sayfa Aralığı | 163-185 |
| Keywords | Economics, Profit-sharing |
| Anahtar Kelimeler | Ekonomi, Kâr paylaşımı |
| Açıklama | The main objective of the paper is to demonstrate that replacement of interest by a system of profit-sharing will cause no problems as regards its smooth functioning and stability. It discusses how the ratios of profit-sharing will be determined. It is envisaged that in an Islamic economy. “the rate of interest paid by commercial banks to depositors will be replaced by a percentage share in the profits accruing to the banks”, henceforth called drp. Similarly, Banker’s Rate of Profit-sharing (brp) is defined as “the percentage share of the entrepreneur’s profit accruing to the banks”. It studies the effects of changes in the expected rate of profits on these ratios and the alternative possibilities as regards the responsiveness of supply and demand for deposits to the changes in the expected rates of profits. It examines and refutes the contention that a system based on profit sharing must be unstable and subject to wide fluctuations. The paper demonstrates that the system gains in efficiency by assigning the allocative role to the rate of profit without the disturbing interference from the rate of interest. The author has based his analysis on certain assumptions. It recognises multiplicity of objectives in an Islamic economy both at the entrepreneurial and financier’s level but assumes that decision making in the private sector is based on the profit motive. It also assumes competitive behaviour, a closed economy and existence of positive profits at all times at the macro-economic level. Profit is defined in the accounting sense of the term. It is argued that “these ratios may change in response to changes in the rate of profit expected by the entrepreneur but they have a tendency to move back towards their original level. The entrepreneurial rate of profit itself will be less prone to fluctuations because of the changed behaviour of the financial sector which is presently the major source of fluctuations. The Central Bank will be in a position to mitigate the effects of these fluctuations by regulating the supply of money through a number of policy instruments available to it. The impact of such fluctuations as still remain will be communicated back to the ultimate savers in a much reduced degree. |
| Bilgilerin Alındığı Kaynak | Bibliografya Kaydı |