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An Econometric Study of Islamic Shari'ah (Law) Rules and the Consumption Function in Contemporary Muslim Countries أحكام الشريعة الإسلامية ودالة الاستهلاك في الدول الإسلامية المعاصرة : دراسة قياسية

Author

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  • MUKHTARM. METWALLY

    (Professor of Economics, King Saud University, Riyadh, Saudi Arabia)

Abstract

What would be the direction of change of aggregate consumption in contemporary Muslim countries if income redistribution schemes that are called for by Islamic shari'ah (law) are implemented? The present paper answers that question by fitting several types of aggregate consumption functions to each of 30 Muslim countries data. The best fitting function in each case is then used to assess the likely impact of Islamic redistribution. The types of functions estimated for each country reflect: the absolute, the relative, and the permanent income hypotheses as well as the life-cycle and other hypotheses. None of these common hypotheses fits very well the data of these countries. We have therefore introduced a new variant of the absolute income hypothesis which we called: 'Consumption Acceleration Hypothesis', and which was found to provide a better fit for the data. كيف ينتظر أن يتغير حجم الإنفاق الاستهلاكي الكلي في الدول الإسلامية المعاصرة إذا طبقت أساليب إعادة توزيع الدخل وفق أحكام الشريعة؟ أجاب الباحث عن هذا السؤال من خلال توفيق عدة أنماط من الدوال الاستهلاكية الكلية مع البيانات الإحصائية لكل من 30دولة إسلامية. واستنتج الأثر المتوقع لإعادة التوزيع في كل دولة بحسب نمط دالة الاستهلاك فيها. وقد شملت أنماط دالة الاستهلاك التي تم تقديرها والترجيح بينها لكل دولة: نمط الدخل المطلق، والدخل النسبي والدخل الدائم ودورة الحياة، وسواها. وقد وجدنا أن أكثر الدول الإسلامية المعاصرة لا ينطبق عليها تماماً أي من هذه الأنماط الشائعة في النظرية الاقتصادية، فقدمنا صياغة جديدة لنمط الدخل المطلق أسميناها نمط الإسراع الاستهلاكي، وقد وجدنا أن هذه الصيغة الجديدة هي أقرب إلى واقع الكثير من الدول المدروسة.

Suggested Citation

  • Mukhtarm. Metwally, 1989. "An Econometric Study of Islamic Shari'ah (Law) Rules and the Consumption Function in Contemporary Muslim Countries أحكام الشريعة الإسلامية ودالة الاستهلاك في الدول الإسلامية المعاصرة : دراسة قياسية," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 1(1), pages 3-44, January.
  • Handle: RePEc:abd:kauiea:v:1:y:1989:i:1:no:10:p:3-44
    DOI: 10.4197/islec.1-1.10
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