The economic consequences of the interest-free Islamic banking systems (Ph.D. Dissertation)
This study addresses questions concerning the economic consequences of interest free banking systems in several Islamic nations. The objectives of this study are to analyze: the impact of interest-free banking on risk-raking and the savings behavior of households at the micro level, the effects of interest-free banking on the rate of aggregate investment and the level of output at the macro level, and the conduct of monetary and fiscal policies in an Islamic economy. The effectiveness of interest-free banking systems are compared for Islamic and regular economies.