IDEAS home Printed from https://ideas.repec.org/a/abd/kauiea/v30y2017i1no2p21-36.html

Legal Pluralism, Property Rights and the Paradigm of Islamic Economics التعددية القانونية وحقوق الملكية والنموذج الإرشادي للاقتصاد الإسلامي

Author

Listed:
  • Valentino Cattelan

    (Associate Researcher, Saudi-Spanish Center for Islamic Economics and Finance IE Business School, Madrid (Spain))

Abstract

This article discusses Islamic economics by applying a legal plural approach to property rights: more precisely, it argues that Islamic economics embodies a property theory that is alternative to the conventional one and that this property theory gives rise to a paradigm of economic justice that is unique to Islam. The reasoning proceeds as follows. (§ 1) After introducing its subject-matter, (§ 2) the article reviews the moral approach to Islamic economics, and (§ 3) challenges through legal pluralism the neutrality and universality of conventional property rights, as commonly assumed by law and economics literature. (§ 4) Subsequently, it identifies the uniqueness of Islamic property rights in the light of the distinctive conceptualization of legal, commutative and distributive justice that belongs to Islam. (§ 5) To conclude, the study highlights how the unique paradigm of Islamic economics can contribute to the promotion of a “plural market” in the global economy. تتناول هذه المقالة الاقتصاد الإسلامي من خلال مقاربة قانونية متنوعة لحقوق الملكية. وتقرِّر المقالة بالتحديد أنّ الاقتصاد الإسلامي يُجسِّد نظرية للملكية بديلة للنظرية التقليدية، وتحمل هذه النظرية في طياتها نموذجاً للعدالة الاقتصادية يعدُّ من الخصائص الفريدة للإسلام. وتتناول المقالة هذه القضية على النحو التالي: بعد التعريف بالموضوع (الفقرة 1)، تقوم باستعراض المقاربة الأخلاقية للاقتصاد الإسلامي (الفقرة 2). ثم تدحض -من خلال التعددية القانونية- فكرة حيادية وعالمية الحقوق الملكية التقليدية، كما هو مفترض غالباً في أدبيات القانون والاقتصاد (الفقرة 3)، كما تُبيِّن تَفرُّد حقوق الملكية الإسلامية في ضوء المفاهيم المتميزة للعدالة القانونية والتوزيعة والتبادلية، وهي من خصائص الإسلام (الفقرة 4). في الخاتمة يُسلّط الضوء على إمكانية إسهام هذا النموذج الفريد للاقتصاد الإسلامي في بلورة أشكال متعددة للسوق في الاقتصاد العالمي (الفقرة 5).

Suggested Citation

  • Valentino Cattelan, 2017. "Legal Pluralism, Property Rights and the Paradigm of Islamic Economics التعددية القانونية وحقوق الملكية والنموذج الإرشادي للاقتصاد الإسلامي," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 30(1), pages 21-36, January.
    • Handle: RePEc:abd:kauiea:v:30:y:2017:i:1:no:2:p:21-36
    DOI: 10.4197/Islec.30-1.2
    as

    Download full text from publisher

    File URL: https://iei.kau.edu.sa/Files/121/Files/153872_30-01-02-Valentino.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.4197/Islec.30-1.2?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. repec:iwt:bosers:h040683 is not listed on IDEAS
    2. Daniel H. Cole & Peter Z. Grossman, 2002. "The Meaning of Property Rights: Law versus Economics?," Land Economics, University of Wisconsin Press, vol. 78(3), pages 317-330.
    3. repec:iwt:bosers:h040684 is not listed on IDEAS
    4. Simon Deakin & David Gindis & Geoffrey M. Hodgson & Kainan Huang & Katharina Pistor, 2015. "Legal Institutionalism: Capitalism & the Constitutive Role of Law," Working Papers wp468, Centre for Business Research, University of Cambridge.
    5. Mehmet Asutay, 2007. "Conceptualisation Of The Second Best Solution In Overcoming The Social Failure Of Islamic Banking And Finance: Examining The Overpowering Of Homoislamicus By Homoeconomicus," IIUM Journal of Economics and Management, IIUM Journal of Economis and Management, vol. 15(2), pages 167-176, December.
    6. van Koppen, Barbara & Giordano, Mark & Butterworth, John, 2007. "Community-based water law and water resource management reform in developing countries," IWMI Books, International Water Management Institute, number 138046, January.
    Full references (including those not matched with items on IDEAS)

    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. repec:abd:kauiea:v:30:y:2017:i:1:p:21-36 is not listed on IDEAS
    2. Pietri, Antoine, 2015. "« Propriété » ou « possession » : une question de sémantique…ou de paradigme ? [“Property” or “possession”: just a matter of semantics…or paradigm?]," MPRA Paper 67096, University Library of Munich, Germany.
    3. Valentino Cattelan, 2013. "Introduction. Babel, Islamic finance and Europe: preliminary notes on property rights pluralism," Chapters, in: Valentino Cattelan (ed.), Islamic Finance in Europe, chapter 1, pages 1-12, Edward Elgar Publishing.
    4. Taisu Zhang & Xiaoxue Zhao, 2014. "Do Kinship Networks Strengthen Private Property? Evidence from Rural China," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 11(3), pages 505-540, September.
    5. Andrea Asoni, 2008. "Protection Of Property Rights And Growth As Political Equilibria," Journal of Economic Surveys, Wiley Blackwell, vol. 22(5), pages 953-987, December.
    6. Mequanent, Getachew, 2016. "The Application of Traditional Dispute Resolution in Land Administration in Lay Armachiho Woreda (District), Northern Ethiopia," World Development, Elsevier, vol. 87(C), pages 171-179.
    7. Kimengsi, Jude Ndzifon & Owusu, Raphael & Djenontin, Ida N.S. & Pretzsch, Jürgen & Giessen, Lukas & Buchenrieder, Gertrud & Pouliot, Mariève & Acosta, Ana Nicole, 2022. "What do we (not) know on forest management institutions in sub-Saharan Africa? A regional comparative review," Land Use Policy, Elsevier, vol. 114(C).
    8. Crow, Ben & Swallow, Brent & Asamba, Isabella, 2012. "Community Organized Household Water Increases Not Only Rural incomes, but Also Men’s Work," World Development, Elsevier, vol. 40(3), pages 528-541.
    9. M. Rahila Begam & Manivannan Babu & M. M. Sulphey, 2024. "Development and Validation of an Islamic Investor’s Sentiment Scale for Stock Market Investment," Business Perspectives and Research, , vol. 12(1), pages 26-44, January.
    10. Mehmet Asutay & Primandanu Febriyan Aziz & Banjaran S. Indrastomo & Yusuf Karbhari, 2023. "Religiosity and Charitable Giving on Investors’ Trading Behaviour in the Indonesian Islamic Stock Market: Islamic vs Market Logic," Journal of Business Ethics, Springer, vol. 188(2), pages 327-348, November.
    11. Choueiri, Yasmina & Perrotti, Daniela & Acevedo-De-los-Ríos, Alejandra, 2025. "Characterizing informality in urban resource management: Towards an integrated framework of urban metabolism and informal flows," Land Use Policy, Elsevier, vol. 151(C).
    12. Mohamed Albaity & Mahfuzur Rahman, 2021. "Customer Loyalty towards Islamic Banks: The Mediating Role of Trust and Attitude," Sustainability, MDPI, vol. 13(19), pages 1-19, September.
    13. Eddy Yusof, Ezry Fahmy & Kashoogie, Jhordy & Anwar Kamal, Asim, 2009. "Islamic Finance: Debt versus Equity Financing in the Light of Maqasid al-Shari'ah," MPRA Paper 20722, University Library of Munich, Germany.
    14. Matyukha, Andriy, 2017. "Business groups in agriculture impact of ownership structures on performance: The case of Russia's agroholdings," Studies on the Agricultural and Food Sector in Transition Economies 254051, Institute of Agricultural Development in Transition Economies (IAMO).
    15. Shafiullah Jan & Nazim Zaman, 2012. "Evaluating The Social And Development Oriented Performance of Meezan Bank," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 4(1), pages 55-71, April.
    16. Adjei, Bernadette Araba, 2019. "Legal Pluralism and Water Resources Governance in Ghana – Outcomes of Formal and Customary Management Frameworks," Miscellaneous Publications 358818, University of Ghana, Institute of Statistical Social & Economic Research (ISSER).
    17. Mehmet Asutay, 2013. "The development of Islamic banking in Turkey: regulation, performance and political economy," Chapters, in: Valentino Cattelan (ed.), Islamic Finance in Europe, chapter 15, pages 213-227, Edward Elgar Publishing.
    18. Aarnoudse, E. & Closas, Alvar & Lefore, Nicole, 2018. "Water user associations: a review of approaches and alternative management options for Sub-Saharan Africa," IWMI Working Papers H048782, International Water Management Institute.
    19. Matyukha, Andriy, 2017. "Business groups in agriculture. Impact of ownership structures on performance: The case of Russia's agroholdings," Studies on the Agricultural and Food Sector in Transition Economies, Leibniz Institute of Agricultural Development in Transition Economies (IAMO), volume 85, number 85.
    20. Hartwig, Lana D. & Jackson, Sue & Osborne, Natalie, 2020. "Trends in Aboriginal water ownership in New South Wales, Australia: The continuities between colonial and neoliberal forms of dispossession," Land Use Policy, Elsevier, vol. 99(C).
    21. repec:iwt:conppr:h042809 is not listed on IDEAS
    22. Hamidi, M. Luthfi & Worthington, Andrew C., 2018. "Islamic Social Banking: The Way Forward," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 52(1), pages 179-190.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;

    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:abd:kauiea:v:30:y:2017:i:1:no:2:p:21-36. 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: King Abdulaziz University, Islamic Economics Institute. (email available below). General contact details of provider: https://edirc.repec.org/data/cikausa.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.