IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/81144.html
   My bibliography  Save this paper

The Significance of Waqf for Economic Development

Author

Listed:
  • Budiman, Mochammad Arif

Abstract

There is an opinion among Western scholars that the institution of waqf could not any longer perform its economic role in the present times. Instead of being a vital institution as it truly played at the pre-modern era, waqf nowadays seems to be an impediment to the development in Muslim countries. This paper therefore is meant to refute such an opinion and attempts to point out the economic impacts of waqf for Muslim society in the context of the present economy. In the last part, the paper also brings about several necessary prerequisites for the revitalization of waqf in the current days.

Suggested Citation

  • Budiman, Mochammad Arif, 2014. "The Significance of Waqf for Economic Development," MPRA Paper 81144, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:81144
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/81144/1/MPRA_paper_81144.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ahmed, Habib, 2004. "Role of Zakah and Awqaf in Poverty Alleviation (Occasional Paper)," Occasional Papers 201, The Islamic Research and Teaching Institute (IRTI).
    2. Platteau, Jean-Philippe, 2008. "Religion, politics, and development: Lessons from the lands of Islam," Journal of Economic Behavior & Organization, Elsevier, vol. 68(2), pages 329-351, November.
    3. Timur Kuran, 2004. "Why the Middle East is Economically Underdeveloped: Historical Mechanisms of Institutional Stagnation," Journal of Economic Perspectives, American Economic Association, vol. 18(3), pages 71-90, Summer.
    4. Rashid, Syed Khalid, 2011. "Certain Legal and Administrative Measures for the Revival and Better Management of Awqaf," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 19, pages 1-40.
    5. Chapra, M. Umer, 2008. "Ibn Khaldun's theory of development: Does it help explain the low performance of the present-day Muslim world?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(2), pages 836-863, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Badawi Badawi & Muhammad Ridwan Andi Purnomo & Yuni Siswanti & Akhmad Syari’udin & Muamar Nur Kholid & Istyakara Muslichah & Tania Avianda Gusman, 2022. "Religiosity and subjective norm in waqf intention: The mediating role of attitude," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 11(8), pages 264-275, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Budiman, Mochammad Arif, 2016. "The Discourse on Islam and Development: Western and Muslim Scholars’ Opinions," MPRA Paper 81145, University Library of Munich, Germany.
    2. Pierre-Guillaume Méon & Ilan Tojerow, 2016. "In God We Learn? Religions’ Universal Messages, Context-Specific Effects, and Minority Status," Working Papers CEB 2013/233535, ULB -- Universite Libre de Bruxelles.
    3. Binzel, Christine & Carvalho, Jean-Paul, 2013. "Education, Social Mobility and Religious Movements: A Theory of the Islamic Revival in Egypt," IZA Discussion Papers 7259, Institute of Labor Economics (IZA).
    4. Zaman, Asad, 2008. "Islamic Economics: A Survey of the Literature," MPRA Paper 11024, University Library of Munich, Germany.
    5. Vicente, Pedro C. & Vilela, Inês, 2022. "Preventing Islamic radicalization: Experimental evidence on anti-social behavior," Journal of Comparative Economics, Elsevier, vol. 50(2), pages 474-485.
    6. Jean-Philippe Platteau, 2009. "Institutional Obstacles to African Economic Development: State, Ethnicity, and Custom," Post-Print hal-00726664, HAL.
    7. Michalopoulos, Stelios & Naghavi, Alireza & Prarolo, Giovanni, 2010. "Trade and Geography in the Economic Origins of Islam: Theory and Evidence," MPRA Paper 23136, University Library of Munich, Germany.
    8. Muhammad Tariq MAJEED*, 2019. "REAL WELLBEING OF THE UMMAH AND ECONOMIC PERFORMANCE: Islamic Perspectives and Empirical Evidence," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 29(1), pages 1-31.
    9. Michalopoulos, Stelios & Naghavi, Alireza & Prarolo, Giovanni, 2016. "Islam, inequality and pre-industrial comparative development," Journal of Development Economics, Elsevier, vol. 120(C), pages 86-98.
    10. Platteau, Jean-Phillipe & Sekeris, Petros G., 2013. "Seduction of Religious Clerics and Violence in Autocratic Regimes - with special emphasis on Islam," NEPS Working Papers 3/2013, Network of European Peace Scientists.
    11. Méon, Pierre-Guillaume & Tojerow, Ilan, 2019. "The minority ethic: Rethinking religious denominations, minority status, and educational achievement across the globe," Journal of Comparative Economics, Elsevier, vol. 47(1), pages 196-214.
    12. Shah Shirazi, Nasim, 2014. "Integrating Zakāt and Waqf into the Poverty Reduction Strategy of the IDB Member Countries," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 22, pages 79-108.
    13. ., 2014. "Ibn Khaldun’s theory of development: does it help explain the low performance of the present-day Muslim world?," Chapters, in: Morality and Justice in Islamic Economics and Finance, chapter 4, pages 93-134, Edward Elgar Publishing.
    14. Platteau, Jean-Philippe, 2011. "Political Instrumentalization of Islam and the Risk of Obscurantist Deadlock," World Development, Elsevier, vol. 39(2), pages 243-260, February.
    15. Platteau, Jean-Philippe, 2009. "Institutional obstacles to African economic development: State, ethnicity, and custom," Journal of Economic Behavior & Organization, Elsevier, vol. 71(3), pages 669-689, September.
    16. Pierre-Guillaume Méon & Ilan Tojerow, 2018. "In God We Learn? The Universal Messages of Religions, their Context-Specific Effects, and the role of Minority Status," Working Papers CEB 16-036, ULB -- Universite Libre de Bruxelles.
    17. M. Shahid Ebrahim & Seema Makhdoomi & Mustapha Sheikh, 2012. "The Political Economy and the Perennial Underdevelopment of the Muslim World," Working Papers 12011, Bangor Business School, Prifysgol Bangor University (Cymru / Wales).
    18. Coşgel, Metin M. & Miceli, Thomas J. & Rubin, Jared, 2012. "The political economy of mass printing: Legitimacy and technological change in the Ottoman Empire," Journal of Comparative Economics, Elsevier, vol. 40(3), pages 357-371.
    19. Sakinah Mat Zin & Ahmad Azrin Adnan & Iskandar Hasan Abdullah, 2017. "How Can Ibn Khaldun’s Economic Philosophy Revive the Intellectual Capital of Entrepreneurs," Asian Social Science, Canadian Center of Science and Education, vol. 13(6), pages 164-164, June.
    20. Gonzalo Escribano, 2006. "Europeanisation without Europe? The Mediterranean and the Neighbourhood Policy," EUI-RSCAS Working Papers 19, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).

    More about this item

    Keywords

    waqf; economic development; income distribution; poverty; deficit financing;
    All these keywords.

    JEL classification:

    • P40 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - General
    • P43 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Finance; Public Finance
    • P46 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:81144. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.