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Can an Islamic Model of Housing Finance Cooperative Elevate the Economic Status of the Underprivileged?

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Author Info
M. Shahid Ebrahim () (Nottingham University Business School)
Abstract

This paper was refined during my sabbatical study at James Madison University (JMU). I appreciate the hospitality of JMU particularly that of Ehsan Ahmed. I have benefited from the critical comments of the participants of the seminars at James Madison University; University of Birmingham; University of Glasgow; the 2006 Conference on Computing in Economics and Finance (in Cyprus); the 2007 IIUM International Conference (in Malaysia); at the 2007 Workshop on Default Risk and Financial Distress (in Rennes, France), the 2007 Product Development and Management Association Conference (in Bangalore, India); the 2008 International Conference on Business and Finance (in Hyderabad, India); the 2008 International AREUEA Conference (in Istanbul, Turkey); the 2008 Workshop of European Network of the Economics of Religion (in Edinburgh, UK); and the 2008 Symposium on Religion, Markets and Society (in Nottingham, UK) on earlier drafts of the paper. I am also grateful to the following individuals for their helpful suggestions: Bruce Brunton, Humayon Dar, Mohammad Omar Farooq, Diana Mitlin, Kelly Morris, Peter Oliver, Barkley Rosser, Peer Smets, Ghulam Sorwar, Rafal Wojakowski and Robert Young. All remaining errors are mine.

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Paper provided by Department of Economic Theory and Economic History of the University of Granada. in its series Papers on Economics of Religion with number 08/04.

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Length: 38 pages
Date of creation: 24 Oct 2008
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Handle: RePEc:gra:paoner:08/04

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Related research
Keywords: ASCRA; Asset Bubble; Mutual Bank; Inflation; Mortgage Design; and ROSCA.;

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Find related papers by JEL classification:
C63 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Computational Techniques
G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages
G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Capital and Ownership Structure
N25 - Economic History - - Financial Markets and Institutions - - - Asia including Middle East
O17 - Economic Development, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
P13 - Economic Systems - - Capitalist Systems - - - Cooperative Enterprises
R22 - Urban, Rural, and Regional Economics - - Household Analysis - - - Other Demand

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  26. Aoki, Kosuke & Proudman, James & Vlieghe, Gertjan, 2004. "House prices, consumption, and monetary policy: a financial accelerator approach," Journal of Financial Intermediation, Elsevier, vol. 13(4), pages 414-435, October. [Downloadable!] (restricted)
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