Research Institute of Hawzah and University; "Hawzah wa Dāneshgāh Research Institute"
Journal of Iran's Economic Essays (JIEE)
1735-3300
2588-5812
17
33
2020
03
20
The Role of Zakat in Social Balance and Economic Growth in Iran Using a Random Zakat Model during 1999-2010
9
34
FA
Muhammad Mahdi
Askari
Assistant Professor, Faculty Member, Faculty of Islamic Education and Economics, Imam Sadiq University
m.askari@isu.ac.ir
Ahmad
Mohammadipour
PhD student in Economics, University of Tehran
a.mohammadipour73@gmail.com
10.30471/iee.2020.5499.1776
the role of zakat on the social balance of the Iran’s economy has been studied by Using the data related to the Iran’s Income decades and the Agricultural Statistics Yearbook, . In addition, by calculating the parameters of the stochastic model of Zakat, its implications have been investigated in the Iran’s economy. For this purpose, based on the implications of the traditions, two assumptions are made for the payment of zakat: (1) the payment of zakat to the extent of poverty reduction, and (ii) the payment of zakat to the desired utility. For this purpose, first, the potential capacity of zakat was estimated in the monopoly of nine cases. It became clear that the level of potential zakat in the Iran’s economy in monopoly versus the volume of poverty is insignificant and can not have a significant impact on poverty alleviation.<br />By calculating the model parameters from Iran's economy data, firstly, the classes gap in the Iran's economy is high and, as the data and static studies confirm, considering the model assumption, there is no possibility of creating a social balance in Iran's economy without reforming the wealth structure of the zakat payer group. This strongly emphasizes that, despite the Zakat solution for poverty reduction for the Islamic economic system, and in a society where relations between phenomena are defined on the basis of different economic systems, Zakat does not have its main function. In other words, in the economic system of Islam, by establishing Islamic economic relations, the various roots of poverty have decreased and by reducing the amount of poverty, Zakat's revenues will not only help to provide the welfare level for all classes of society, but also the surplus of zakat resources can be used in other expenditures of Zakat.
Zakat,Random Model,Social Balance,poverty alleviation,Iranian Economy
https://iee.rihu.ac.ir/article_1663.html
https://iee.rihu.ac.ir/article_1663_82b4e764f3b31e19fe74582d6cdcd139.pdf
Research Institute of Hawzah and University; "Hawzah wa Dāneshgāh Research Institute"
Journal of Iran's Economic Essays (JIEE)
1735-3300
2588-5812
17
33
2020
03
20
Restructuring Sukuk for default risk management based on Shariah principles
35
57
FA
mohammad
tohidi
0000-0002-1289-1256
Assistant professor at Imam Sadiq University, Department of Finance, Faculty of Islamic Theology and management
tohidi83@gmail.com
10.30471/iee.2020.6265.1882
Islamic securities, like conventional bonds, are not safe from default. Therefore, it is important to provide solutions to manage this type of risk in the structure of Sukuk. One of the corrective measures used in Islamic countries to prevent default is the restructuring of the sponsor's financial obligations. The purpose of the restructuring is to give the debtor more time to settle his obligations. This descriptive-analytic study, while reviewing the experience of Islamic countries in restructuring Sukuk as well as experience in usury banking in Iran, introduces restructuring, its implementation process, and also mechanisms for restructuring various types of Sukuk and analyzes it according to the viewpoints of Sharia jurisprudents. These solutions include: extension of maturities, rate increase, and devaluation of debt, replacement of the new Murabaha contract, bankruptcy and debt swap with ownership. Finally, according to the jurisprudential nature of the basic contract of each type of Sukuk, the mechanism (s) appropriate to each one are presented.
Islamic financial instruments,Sukuk,restructuring,default risk,shariah principles
https://iee.rihu.ac.ir/article_1774.html
https://iee.rihu.ac.ir/article_1774_c6729c81316fc3a8266f0b76f737c407.pdf
Research Institute of Hawzah and University; "Hawzah wa Dāneshgāh Research Institute"
Journal of Iran's Economic Essays (JIEE)
1735-3300
2588-5812
17
33
2020
03
20
Theoretical explanation of the poverty line from the perspective of Islamic economics; based on statistical standards of the Iranian economy
59
85
FA
Mahmoud
Moktarband
Assitant professor, Imam Khomeini Education and Research Institute
mhm92@chmail.ir
10.30471/iee.2020.6445.1907
Economic justice is one of the principles of Islamic economics and researchers in this field have made extensive theories and studies to base economic policies recommendations on this important principle. The purpose of this article is to introduce "the limit of sufficiency" instead of the poverty line and to provide a criterion for measuring the limit of sufficiency in Islamic economics. By basing the theory of economic justice on "entitlement" it demands that this type of research focus on explaining this idea in Islamic economics as accurately as possible. Economic justice in Islamic teachings requires the fulfillment of at least four entitlements, namely sufficiency limit, balance, contribution of the factors of production, and moderating-conventional rights. In this paper, by the descriptive-analytical method and using mathematical methods, we will explain the subordinate limit of the sufficiency and provide solutions for its estimation, while comparing it with the poverty line in the conventional economy. The result of this paper is that the poverty line and the bottom line of the sufficiency are two completely separate criteria, and policy-making based on the bottom line of sufficiency rather than the poverty line makes greater prosperity for society.
Economic Justice,Criteria of Justice,Entitlement,the Limit of Sufficiency,the Poverty Line
https://iee.rihu.ac.ir/article_1769.html
https://iee.rihu.ac.ir/article_1769_0c3dba8dd776a16e56ecdd20d3b71001.pdf
Research Institute of Hawzah and University; "Hawzah wa Dāneshgāh Research Institute"
Journal of Iran's Economic Essays (JIEE)
1735-3300
2588-5812
17
33
2020
03
20
The Comparison of Encounter to externality in Iranian Economy on the Neoclassical Economics and New Institutional Economics Approaches (with Legal Method)
87
111
FA
Mohammad Hossein
Karami
Assistant Professor of Economics, Research Institute of Hawzah and University
mhkarami@rihu.ac.ir
10.30471/iee.2020.5879.1830
Foreign effects are the costs or benefits that are transferred from one economic activity to another outside the form of market transactions. Given the existence of grounds for the formation of foreign influences in our society, this issue can be studied in the Iranian economy. One of the aspects to be studied in this field is the evaluation of the degree of conformity of the existing approaches in dealing with foreign influences in the Iranian economy. Among economic ideas, neoclassicists and neo-institutionalists have played a prominent role in the introduction and expansion of foreign influences. In this article, in a descriptive-analytical method, after drawing a legal approach from the neoclassical economics and neo-institutionalism approach and identifying the rules of civil liability compatible with each of the mentioned approaches, the compatibility of these approaches with the civil liability system governing Iranian law is evaluated. According to the results, first, the system of civil liability in Iranian law, contrary to the neoclassical approach, is not formed solely on the basis of pure responsibility, and second, it has not followed the approach of net maximizing the social interests of the new institutionalism. Both of these consequences are due to the fact that the system of civil liability in Iranian law is not in line with the goal of economic efficiency.
Foreign Influences,Iranian Economy,Neoclassical Economics,New Institutionalist Economics,economic efficiency,Civil liability,Law and Economics
https://iee.rihu.ac.ir/article_1737.html
https://iee.rihu.ac.ir/article_1737_e77abc7552e1af4af0bf51315604526d.pdf
Research Institute of Hawzah and University; "Hawzah wa Dāneshgāh Research Institute"
Journal of Iran's Economic Essays (JIEE)
1735-3300
2588-5812
17
33
2020
03
20
Investigating and Modeling the Effect of Oblation on Religious Affairs on Macroeconomic Variables in the Iranian Economy
113
140
FA
Mohammad Sadegh
Javdan
Master student of Imam Sadiq University
sadeghisu7@gmail.com
DAVOOD
javdan
Associate Professor of Economics, Imam Sadiq University
manzoor@isu.ac.ir
SAJAD
RAJABI
0000-0003-4431-6704
PhD student at Imam Sadiq University
sajadrajabi@isu.ac.ir
10.30471/iee.2020.5964.1845
One of the important economic issues in Islamic societies intertwined with religion and culture is the issue of oblation. Among the most important types of oblations that are recognizable in past and present societies are the obligatory and non-binding oblations that are performed in the context of religious boards. The purpose of this paper is to investigate the interplay of religiosity in the context of religious boards and macroeconomic indicators including employment rate, Gini coefficient, and GDP. The end is also fuzzy based on the CFCS technique and structural equations with partial least squares (PLS) are used for data analysis. Accordingly, the increase in the volume of the economy has an effect on employment growth with the path coefficient of 0.48, GDP growth of path coefficient of 0.3 and the Gini coefficient of path coefficient of 0.28. Inflation and improvement of the business environment, with the coefficients of 0.92 and 0.88 respectively, had the greatest effect on increasing the volume of rainfall in the country, respectively.
Oblation,Religious Board,structural equations,Third Sector of Economy,employment
https://iee.rihu.ac.ir/article_1752.html
https://iee.rihu.ac.ir/article_1752_615f2774444d2698afdbc546e97ba66f.pdf
Research Institute of Hawzah and University; "Hawzah wa Dāneshgāh Research Institute"
Journal of Iran's Economic Essays (JIEE)
1735-3300
2588-5812
17
33
2020
03
20
Extracting the Infāq demand function based on the Lancaster demand function
141
165
FA
Mostafa
Kazemi Najaf Abadi
0000-0003-2271-2714
Assistant Professor of Economics, Research Institute of Hawzah and University
mostafakazemi@rihu.ac.ir
10.30471/iee.2020.5633.1794
Benevolent activities, like other human activities, can be the subject of study in various sciences, including economics. This article seeks to find an appropriate answer to how the Infaq demand function is organized. The results of the analysis of this article, which has been done using descriptive-analytical method and with the method of library and expert inquiry, show that the demand for Infaq is composed of different vectors of characteristics. Therefore, the applicants determine the amount of their demand according to their degree of importance. This article has tried to obtain a complete set of these trajectories and suggestions to strengthen them in the country by using Quranic documents and narration and asking experts. Then, inspired by Lancaster's demand theory, establish the Infaq demand function based on these characteristics and derive the Infaq valuation function by using the Hedonic price function. Identifying the demand function of Infaq and introducing effective vectors in that path provides solutions to strengthen them in order to boost the Infaq market in the country.
Economic Analysis,Infaq Market,Infaq Demand,Demand Function,Lancaster Demand Function,Hedonic Price Function
https://iee.rihu.ac.ir/article_1791.html
https://iee.rihu.ac.ir/article_1791_34539a9fe695cdf391147b1c998415ed.pdf
Research Institute of Hawzah and University; "Hawzah wa Dāneshgāh Research Institute"
Journal of Iran's Economic Essays (JIEE)
1735-3300
2588-5812
17
33
2020
03
20
The Religious Principles of Labor Productivity Based on Subject-Content Analysis of Qur'anic Verses Looking at the Country's Five-Year Development Laws
167
198
FA
Fatemeh
Zeinoddini
M.A., University of Isfahan
f.zeynoddini69@gmail.com
Mehdi
Toghyani
Assistant Professor, Department of Economics, University of Isfahan, Isfahan, Iran
mtoghyani@gmail.com
Mohammad
Etrat Doost
Assistant Professor, Faculty of Humanities, Department of Islamic Theology, Shahid Rajaee Teacher Training University
etratdoost@sru.ac.ir
10.30471/iee.2020.5420.1763
One of the main questions in the field of economics is identifying the factors influencing labor productivity. One of the presuppositions in this regard is the influence of religious values as a fundamental motivating factor on the Muslim workforce, which is influenced by Islamic beliefs and the crystallization of faith in these beliefs can be seen in his behavior. Based on this premise, in order to analyze the behaviors of this important factor of production, it is necessary to discover strategies to strengthen his productivity and influence the quality of human resource performance and extract a list of religious principles affecting the Muslim labor force. However, what is of great importance in such research is the use of appropriate research methods to refer to religious sources to discover appropriate propositions and provide a management model based on which a systematic program for training and productivity growth can be developed. For this reason, this study attempts to combine the two methods of interdisciplinary research "content analysis" and "subject-scientific interpretation" to extract the religious values affecting labor productivity. Also, the alignment of the extracted components with the five-year development plans of the country has been examined along this path. The results indicate that many factors beyond what economic and managerial scholars have stated have had an impact on the workforce and that it is necessary to pay close attention to the teachings of the Islamic religion in the process of transformation and localization of science.
Qur'an,productivity,labor force,Five-year development plans,Thematic scientific methodology,Content analysis method
https://iee.rihu.ac.ir/article_1661.html
https://iee.rihu.ac.ir/article_1661_5b68bb0ae310926b4414eb5c1d756711.pdf
Research Institute of Hawzah and University; "Hawzah wa Dāneshgāh Research Institute"
Journal of Iran's Economic Essays (JIEE)
1735-3300
2588-5812
17
33
2020
03
20
Analytical evaluation of the process of converting science to commodity and Analysis of the Conventional approach of the economics of science from an Islamic perspective
199
217
FA
Hamid Reza
Maghsoudi
Assistant professor, Faculty of Economics, University of Qom
maghsoodi@isu.ac.ir
Ali Akbar
Ebrahimi Nejad Rafsanjani
PhD Student of Economics, University of Qom
aliakbar.ebrahiminejad@gmail.com
10.30471/iee.2020.6040.1851
Commodification of affairs and concepts and justifying them to physical goods is the process that began from the formation of conventional economics. At this process gradually it has been struggled to put up all affairs and concepts below economic logic and marketized them to transactions. Knowledge is a concept that commoditized after the 1950s. <br />This article has been written in an analytical method on the basis of economic philosophy by a critical approach to the commodification of knowledge. Knowledge is the capital and transactive structure that has been entered into economic literature and formed economics of science. Based on economics of science, knowledge can enter the transaction as a commodity on one hand and as capital into economic growth function to improve production and wealth. <br />Staying knowledge as market agent defined the market as the main motivator of knowledge production and ignored other motivators like need, culture, politics, security, wish and taste. Changing of conditions from marketized knowledge to progressive and perfect knowledge needs some institutions that can satisfy scientist’s wishes and incentives into parallel priority.
economics of science,economization,commodification,marketization
https://iee.rihu.ac.ir/article_1733.html
https://iee.rihu.ac.ir/article_1733_6dd41d7da23eb38ec23fce8455f96a26.pdf
Research Institute of Hawzah and University; "Hawzah wa Dāneshgāh Research Institute"
Journal of Iran's Economic Essays (JIEE)
1735-3300
2588-5812
17
33
2020
03
20
Determining the Resilience components with an emphasis on Iran's Economic Vulnerability
219
242
FA
hesameddin
ghasemi
PhD Student in Economics, Shahid Beheshti University of Tehran, Tehran, Iran
he_ghasemi@sbu.ac.ir
Abbas
Arabmazar
Associate professor, Economics and Political Sciences, Shahid Beheshti University, Iran
ab_arabmazar@sbu.ac.ir
10.30471/iee.2020.5807.1821
Economic resilience refers to the ability to cope with various economic shocks and the extent of recovery after a crisis. The purpose of this paper is to determine the effective factors in Iran's economic resilience index. According to the existing resilience literature, and using the grounded theory approach, theoretical saturation was obtained with respect to the economic resilience components and indicator factors by using the Bayesian Model Averaging (BMA) approach. In the presence of 63 variables, seven variables were identified which include: risk index, oil revenue to total government revenue ratio, the growth rate of government oil revenues, inflation rate, the ratio of government debt to the banking system to liquidity, the budget deficit to GDP ratio and the fluctuation of the growth rate of liquidity, as the most important variables determining the resilience of Iran's economy. Therefore, it is recommended to policymakers to reduce the vulnerability of economic sectors, by taking into account the impact of these variables.
Resilience Components,vulnerability,grounded theory,Bayesian Model Averaging,Iran's economy
https://iee.rihu.ac.ir/article_1638.html
https://iee.rihu.ac.ir/article_1638_e4f042c1bca7a42a79051b15dfe132e6.pdf
Research Institute of Hawzah and University; "Hawzah wa Dāneshgāh Research Institute"
Journal of Iran's Economic Essays (JIEE)
1735-3300
2588-5812
17
33
2020
03
20
Common Islamic financial engineering pathology in order to design the Islamic financial system
243
270
FA
Ahmad Reza
Safa
0000-0003-0819-5757
PhD Student, Edalat University
ahmadrsafa@yahoo.com
Gholam Ali
Masoumi Nia
Assistant Professor of Kharazmi University
masuminia_ali@yahoo.com
10.30471/iee.2020.5896.1833
Common financial engineering is a set of sciences or techniques that seek to find new and effective ways to provide optimal funding in the institutional framework of a system governing liberal economics. The main question is whether it is possible to achieve the goals and strategies of the Islamic financial system by simulating them.<br /> In order to get the answer, the article first describes the historical and the functional course of current Islamic finance and its analysis and pathology. The prevailing approach of Islamic finance is the common passive method (adaptation, simulation, and correction), the common denominator of which is the emphasis on the reconstruction and signing of the achievements of Marginalism of the financial economy. Research at this level, by employing the system of jurisprudence lacks a specific methodology in line with the objectives. <br />In addition to the problem of lack of consensus on financial issues, the study conducted that the passive approach is associated with the disadvantages of inconsistency, adaptability, widespread use of trickery, complication, and inconsistency with goals. In general, it has caused the non-specificity of the terms of the contracts and the existence of the philosophy of usury ban and other indisputable rules regarding transactions. And other certain rules have been applied to transactions. This approach led to the irony of the opposition and the lack of real distinction between the innovative financial system and the current one. <br />It is suggested that in the first step, with the approach of systematization and the idea of moderation of jurisprudence, and within it and in accordance with the goals, the structure of the Islamic financial system should be designed to meet real financial needs.
Financial system,Islamic Financial Engineering,Islamicization,Usury tricks,Methodology
https://iee.rihu.ac.ir/article_1735.html
https://iee.rihu.ac.ir/article_1735_7c2497e811d1187dc7bf0f28a71a37d5.pdf
Research Institute of Hawzah and University; "Hawzah wa Dāneshgāh Research Institute"
Journal of Iran's Economic Essays (JIEE)
1735-3300
2588-5812
17
33
2020
03
20
Pricing Sukuk of Mushurakah Ventures Using its Expected Return; (A case study of Iran OTC)
271
297
FA
Rafie
Hasani Moghaddam
Assistant Professor, Department of Economics, Damghan University
moghadam_rafi@yahoo.com
10.30471/iee.2020.6365.1900
Issuance of Musharakah bonds (Sukuk) is one of the methods of financing. Although in practice, the securities of the Mushurakah are not commensurate with the spirit of the Mushurakah, they are widely used in the financial system, especially in Iran OTC. Mushurakah bonds (Sukuk) has the feature that can be bought and sold before maturity and is different from the nominal price in the secondary market. Across the country, Sukuk pricing is done irrespective of the expected rate of return and with the auction or negotiation method, which is flawed. In this paper, the Mushurakah bonds (Sukuk) pricing model using expected return in the form of a stochastic differential equation is presented and this stochastic differential model is transformed into a partial differential equation using the self-financing basket and then solved by numerical finite difference method. Finally, using Iranian crossover data and coding in MATLAB software, the Mushurakah bonds (Sukuk) pricing process was performed for different expected returns and it was found that with the increase of expected return, the price of the Mushurakah bonds (Sukuk) increases that the direct relationship between expected return and the price of sukuk is also confirmed in the finance's literature.
Mushurakah Sukuk,Expected Return,OTC,Finite Difference,Partial differential equation
https://iee.rihu.ac.ir/article_1734.html
https://iee.rihu.ac.ir/article_1734_415c43048e0b649934ce41c13efb4724.pdf
Research Institute of Hawzah and University; "Hawzah wa Dāneshgāh Research Institute"
Journal of Iran's Economic Essays (JIEE)
1735-3300
2588-5812
17
33
2020
03
20
Study of Executive Challenges of VAT and its Inconsistency with the Principles of Islamic Tax
299
322
FA
Mohammad Zaman
Rostami
Assistant Professor of Economics, Qom University
mzrostami1962@gmail.com
Mohammad Ali
Ahmadi
Deputy Auditor of the General Department of Tax Affairs of Qom Province
davild66637@yahoo.com
Mohammad Hadi
Rostami
PhD in Shahid Motah'hari University
h.rostami123@yahoo.com
10.30471/iee.2020.5479.1771
VAT is imposed on the final consumer to make the economy more transparent, and its proper implementation can achieve some of the goals of allocating, redistributing, and financing the government. Expanding the tax base, making it usable, and lowering the cost of identification and collection, are characteristics of this tax. Its improper implementation may cause some negative consequences. Because in the production process, this tax is received from economic actors and then reimbursed to them, the difference remains with the government and some activists for a long time, which can harm some activists, especially in times of recession. <br />Issue of ownership of received VAT and capturing in it, in the stages before the final consumption are vague. This kind of tax is accompanied by tax discrimination and transfer of the tax burden and deepens their recession. This tax is not fully compatible with initial rulings of Islamic principles which do not establish any duty on consumption. Another challenge is the non-difference in tax rates for essential and non-essential goods. This paper describes in a descriptive-analytical way and with a practical approach, the concept of VAT, the chain of its receipt, the types of taxpayers in terms of benefits and disadvantages, its executive challenges, and its incompatibility with Islamic taxation. Answering the question of the main challenges of VAT and its compatibility with Islamic finance, this paper proposes the hypothesis that VAT is not fully compatible with Islamic finance and that its major challenges are enforceable and its proper implementation provides some infrastructures and little legal reforms can make it more effective and more compatible with Islamic finance.
Tax,VAT,Islamic tax,Consumption Tax
https://iee.rihu.ac.ir/article_1704.html
https://iee.rihu.ac.ir/article_1704_0a62912fefca85bb19a2b637774bbfe5.pdf