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Institutional Values Needed for Transformative Socio-economic Development in the Muslim World القيم المؤسسية اللازمة للتنمية الاقتصادية والاجتماعية التحويلية في العالم الإسلامي

Author

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  • Necati Aydin

    (Al-Faisal University, College of Business Riyadh, Kingdom of Saudi Arabia)

Abstract

There is a growing amount of literature that tries to explain what institutions are, how they are established and how they can be reformed for desired social and economic development. This paper explores key institutional values needed for transformative socio-economic development in the Muslim world. The paper begins by examining the role of uplifting institutional values found in the Golden Ages of the Muslim world and how they moved to the West. It then presents new institutional economics as an effective tool to understand long-term development. The paper adds a new layer to institutional economics literature by addressing the importance of hidden internalized institutional values (liberty, critical thinking, justice, rule of law, equality, participatory culture, accountability, competency, punctuality, and plurality) in explaining the socio-economic success of the West and failure of the Muslim world over the last few centuries. The paper concludes with some developmental policy recommendations for Muslim countries based on these internalized institutional values. توجد كثير من الأدبيات - وهي في ازدياد- التي تحاول شرح ماهية المؤسسات، وكيفية إنشائها، وكيف يمكن إصلاحها لتحقيق التنمية الاجتماعية والاقتصادية المرجوة. تستكشف هذه الورقة القيم المؤسسية الأساسية اللازمة للتنمية الاجتماعية والاقتصادية التحويلية في العالم الإسلامي. تبدأ الورقة بدراسة دور القيم المؤسسيةالمساهمة في نهضة الإسلام في عصوره الذهبية وكيفية انتقالها إلى الغرب. ثم تعرض الاقتصاد المؤسسي الجديد كأداة فعالة لفهم التنمية على المدى الطويل. وتضيف الورقة بُعدًا جديدًا لأدبيات الاقتصاد المؤسسي من خلال التطرّق لأهمية القيم المؤسسية الضمنية (الحرية والتفكير النقدي والعدالة وسيادة القانون والمساواة وثقافة المشاركة والمساءلة والكفاءة والالتزام بالمواعيد والتعددية) في تفسير النجاح الاجتماعي والاقتصادي الذي حققه الغرب وفشل فيه العالم الإسلامي في القرون الأخيرة. وتخلص الورقة بذكر بعض التوصيات في سياسة التنمية للبلدان المسلمة على أساس القيم المؤسسية الضمنية.

Suggested Citation

  • Necati Aydin, 2017. "Institutional Values Needed for Transformative Socio-economic Development in the Muslim World القيم المؤسسية اللازمة للتنمية الاقتصادية والاجتماعية التحويلية في العالم الإسلامي," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 30(SI), pages 17-35, April.
    • Handle: RePEc:abd:kauiea:v:30:y:2017:i:4:no:2:p:17-35
    DOI: 10.4197/Islec.30-SI.2
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