In Chapter 6, the system of equations (6.18)–(6.25) and (6.26)–(6.28) showed the general forms of relations among critical macroeconomic variables in the Islamic economy. These forms were then shown to result in the expenditure sector equation and the monetary sector equation. It was indicated also that these general forms of equations could be modified by adding or dropping some variables, and by building in different time-lag structures to the variables. The equations could be expressed in alternative linear forms, such as the log-linear form. The expected signs of the regression coefficients were indicated. These signs are important in showing the direction of change between selected variables. In all these, the central objective was to note the influence that the rate of profit (replacing the rate of interest) and zakah expenditure, as macroeconomic variables, would have on the other variables of the model system. We now turn to an empirical examination of these relationships.
Weitere Kapitel dieses Buchs durch Wischen aufrufen
Bitte loggen Sie sich ein, um Zugang zu diesem Inhalt zu erhalten
Sie möchten Zugang zu diesem Inhalt erhalten? Dann informieren Sie sich jetzt über unsere Produkte:
- Macroeconomic Relations in the Islamic Economy: Experimental Case Study of Malaysia, 1970–85
Masudul Alam Choudhury
- Palgrave Macmillan UK
Neuer Inhalt/© Stellmach, Neuer Inhalt/© Maturus, Pluta Logo/© Pluta, digitale Transformation/© Maksym Yemelyanov | Fotolia