Islamic Economics Studies Bi-quarterly Journal

The role of business-based strategy of Development in the Iranian-Islamic model of progress

Document Type : Research Paper

Authors

1 Assistant Professor, Faculty of Islamic Studies and Economics, Imam Sadiq University.Tehran.Iran

2 Assistant Professor, Faculty of Islamic Studies and Economics, Imam Sadiq University.Tehran.Iran.

Abstract

One of the main issues in the process of development in any country is determining the optimal economic interaction with other countries both in the field of trade (goods and services) and capital inflow and outflow; given the current political-economic conditions of Iran this issue became more important. According to the foundations of the conventional economics, concentration on free trade is one of the successful strategies of economic development, and as countries move toward trade liberalization, the level of development is increased. But there are some evidences that criticize this basis. In other words, the experience of some countries shows that the shifting towards free trade has not only resulted in development but also created a series of economic damages and problems; so, defining the framework of economic interaction with other countries plays a key role in the resilience of the economy. Thus, this paper, by examining the theoretical foundations of free trade and its effects on the development of economic development, shows that adherence to free trade as a development strategy in all economic conditions cannot lead to development. This article also, in order to explain the roadmap of the Iranian-Islamic model of progress, introduces "endogenous and extrovert strategy" as an alternative strategy for international interactions, that both have a favorable impact on the economy and will not cause such problems in the economy.

Keywords

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Islamic Economics Studies Bi-quarterly Journal
Volume 12, Issue 2 - Serial Number 24
May 2020
Pages 323-346