A Desired International Trade Pattern in Islamic Economics and the Required Institutional Reforms for Implementing it in Iran
Document Type : Research Paper
Authors
Abstract
From the past times International trade was one of the most important activities in all economies. Also international trade theories - which try to draw desired international trade pattern and analyze its implementation methods- had an important role in conventional economics. This research tries to give an accurate perspective of a desired international trade pattern in Islamic Economics and use institutional economics and its methods to find the path that transit Iran`s economy to desired situation. Our main questions are: what are the main characteristics of a desired international trade pattern according to the Islamic teachings? and what are the institutional reforms required for transiting the Iranian international trade to the desired pattern?
Research methodology is based on referring to deontological principles of Islamic economics (e.g. social Justice, prohibition of Extravagance, necessity of wealth circulation, poor's right in rich’s wealth, the rule of no harm (Qaede La zarar), and the rule of negation of the way (Qaede Nafye sabil)) and then deriving a desired pattern for Islamic international trade from these deontological principles. After deriving this pattern and its policy implications we try to give the main institutional reforms for implementing these policies. Our findings shows that a variety of institutional reforms should be done to implement desired Islamic international trade policies. The reforms are mostly concentrated on formal institutions and to some extent would address informal ones.
Keywords
)