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on Arab World |
| By: | Kibritçioğlu, Aykut |
| Abstract: | Following the US financial crisis of 2006-2007, the global economy suffered from negative spillover effects of it since fall 2008. In this study, the effects of global financial crsis on Turkish economy (2008-2010) and the macroeconomic performance of the Turkish government (before and) during the crisis (2005-2010) are briefly discussed. |
| Keywords: | Global crisis; economic crisis; financial crisis; Turkish economy; macroeconomic performance; unemployment; short-run economic growth |
| JEL: | E62 F30 F01 E50 E60 |
| Date: | 2010–09–24 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:29470&r=ara |
| By: | Hasan, Zubair |
| Abstract: | This paper clarifies some misinterpretations of three foundational concepts in mainstream economics from Islamic viewpoint. These are scarcity of resources, pursuit of self-interest and maximizing behavior of economic agents. It argues that stocks of resources that God has provided are inexhaustible. But important is the availability of resources out of stocks to mankind. Availability is a function of human effort and the state of knowledge about resources over time and space. In that sense resources are scarce in relation to multiplicity of human wants for Islamic economics as well. Self-interest must be distinguished from selfishness. The motive operates on both ends of human existence: mundane and spiritual. Its pursuit does not preclude altruism from human life. Counter interests keep balance in society and promote civility. Islam recognizes the motive as valid. Maximization relates to quantifiable ex ante variables. Uncertainty of future outcomes of actions makes maximization a heuristic but useful analytical tool. The concept is value neutral. What is maximized, how and to what end alone give rise to moral issues. Modified in the light of Shari’ah requirements the three concepts can provide a firmer definition for Islamic economics centered on the notion of falah. |
| Keywords: | Scarcity; self-interest; maximization; Islamic Economics; israf; Shri'ah; heuristics |
| JEL: | B10 A22 B21 B13 |
| Date: | 2011–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:29414&r=ara |
| By: | Martens, Anja Kristina |
| Abstract: | This paper analyzes drivers of global change and their impacts on the current and future availability and accessibility of water resources in the Nile Basin. Drivers include changes in demography, climate, the socioeconomy, and politics, all of which are likely to increase the demand for freshwater and thus competition over its use across riparian countries. As a result of historic bilateral agreements, Egypt, as the most downstream country, uses the lion's share of the Nile's waters, which makes reallocation particularly difficult. Egypt is nearly totally dependent on water from upstream countries but considers any change of the status quo a threat to its national (water) security. Ninety-six percent of Egypt's water originates outside its territory—86 percent in Ethiopia. This paper assesses the special upstream–downstream relationship in the Nile Basin and the potential for change as a result of global change. It hypothesizes that under global change, not only will water availability in the Nile Basin change but so will the current hydropolitical situation in the basin. In any case, meeting the challenges in the Nile Basin depends on cooperation among countries and regulation of competing interests and demands. Avenues for hydropolitical reform, including the Nile Basin Initiative, and the role of China and other donors or investors are discussed. The findings—that global change might well bring down the old hydropolitical regime—are confirmed by recent developments, in particular, the signing by five upstream countries of a new framework agreement for management and development of the Nile Basin. |
| Keywords: | Nile Basin, hydropolitics, Cooperation, Conflict, global change, Reform, |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprid:01052&r=ara |
| By: | Marcel Fafchamps; Matthias Schündeln |
| Abstract: | Combining data from the Moroccan census of manufcaturing enterprises with information from a commune survey, we test whether firm expansion is affected by local financial development. Our findings are consistent with this hypothesis: local bank availability is robustly associated with faster growth for small and medium-size firms in sectors with growth opportunities, with a lower likelihood of firm exit and a higher likelihood of investment. The findings also suggests a channel for the effect of the availability of financing in firm growth in our data, namely that access to credit was used to invest in labor saving technology. |
| Keywords: | manufacturing, credit constraint, firm size |
| JEL: | O16 L25 |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:csa:wpaper:2011-02&r=ara |