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Scientific Publishing Center
Document Details
Document Type
:
Article In Journal
Document Title
:
Equilibrium in a Non-Interest Open Economy
التوازن في اقتصاد مفتوح خال من الربا
Subject
:
Articles and Notes
Document Language
:
English
Abstract
:
This paper analyzes an economy in which there are no interest-bearing assets, only equity shares. Equilibrium conditions are derived for the case of a closed economy, an open economy with trade in goods only, and finally one with trade in both goods and equity shares. It is shown that the rate of return to capital equilibrates savings and investment, that the differential between the domestic and foreign rates of return to equity determines the direction of capital flows, and that under a fixed exchange rate system, adjustments induced by exchange rate changes are channeled through the asset accounts.
ISSN
:
1018-7383
Journal Name
:
Islamic Economics Journal
Volume
:
5
Issue Number
:
1
Publishing Year
:
1413 AH
1993 AD
Number Of Pages
:
20
Article Type
:
Article
Added Date
:
Sunday, October 11, 2009
Researchers
Researcher Name (Arabic)
Researcher Name (English)
Researcher Type
Dr Grade
Email
عباس ميراخور
ABBAS MIRAKHOR
Researcher
Files
File Name
Type
Description
21016.pdf
pdf
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