The study of economic development is inherently grounded in philosophical and ethical assumptions. In other words, to discuss economic development either at a conceptual level or as a real process necessitates an ethical and philosophical basis. The authors of this book believe that Islamic economics can serve as such a basis, one that emanates from Islamic principles and values.
This book presents a distinctive ethical and philosophical framework, one that is grounded in Islamic principles and the established literature of Islamic economics and finance, to analyse and interpret the concept of economic development, as well as to propose policy solutions to real-world development problems and challenges. The book contains theoretical and empirical studies, which connect the literature of Islamic economics with economic development. While some chapters discuss development at the conceptual/philosophical level, others examine the real-world issues faced by developing countries. It proposes institutional constructs as well as concrete public policies to face developmental challenges, such as fighting poverty and inequality, environmental and social sustainability, industrialisation and industrial policy and social services and human capital.
Serving as both an introduction and a comprehensive resource, this book illustrates how the concepts and problems of economic development can be examined from an Islamic economics perspective, and, as such, will equip researchers and students with a basic understanding of how Islamic economics interacts with the issues of economic development.
Edited by:
Mustafa Metin Başbay
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions:
Height: 234mm,
Width: 156mm,
Weight: 620g
ISBN: 9781032321066
ISBN 10: 1032321067
Series: Islamic Business and Finance Series
Pages: 230
Publication Date: 01 September 2025
Audience:
College/higher education
,
Further / Higher Education
,
A / AS level
Format: Hardback
Publisher's Status: Active
Part I. Institutions and Theoretical Framework 1. Islamic Economics and Economic Development: A Reflection 2. Rethinking Global Development Policies: An Islamic Economics Approach 3. Islamic Universal Politico-Economic Institutional Transmission Mechanisms for Global Sustainable Development 4. Achieving Economic Development through Institutionalization of Zakat and Waqf in Contemporary Economies Part II: Policies and Governance Mechanisms 5. Fighting Intergenerational Poverty in Developing Muslim Countries: A Two-Stage Firoza Islamic Model 6. The Industrial Layer, Industrial Policy, and Islamic Economics 7. Facing the Challange of Covid-19 from an Islamic Development Perspective 8. Between Esham and Cash Waqf Linked Sukuk to Fiscal and Development Sustainability: Comparative Analysis 9. The Role of Infaq Institution in Income Inequality: A Model Proposal for Turkey to Alleviate Income Inequality Part III: Empirical Work 10. State, Conflict, and Development: An Institutional Perspective on the Developmental Experience of Muslim Majority Kashmir 11. An Empirical Work on the Relationship Between Zakat and Development 12. Determinants of Inclusive Growth in Islamic Countries 13. Islamic Social Finance and Sustainable Finance: A Survey on Literacy among Scholars and Students
Mustafa Metin Başbay, Ph.D., is an Assistant Professor in the Department of Economics, Boğaziçi University, Istanbul, Turkey.
