Funding research in Islamic economics and finance
This paper presents some preliminary thoughts on funding research primarily in Islamic economics. It bases its proposals on the fact that despite more than 30 years of research and publications in the area of Islamic economics and finance, the overwhelming proportion of attention has been given t...
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| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
2008
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/24428/ http://irep.iium.edu.my/24428/1/funding_research_in_Islamic_economics.pdf |
| Summary: | This paper presents some preliminary thoughts on funding research primarily
in Islamic economics. It bases its proposals on the fact that despite more than
30 years of research and publications in the area of Islamic economics and
finance, the overwhelming proportion of attention has been given to the
latter, with research in Islamic economics not keeping up, in both total
number of researchers and funding sources and allocation. The paper
highlights the need to allocate resources, both human and financial, to more
fundamental research in Islamic economics as these foundational areas have
not been sufficiently researched. The paper also argues, citing the experience
of western economics that without sufficient attention on these foundations,
applied areas including finance, will also be adversely affected in the long
run. Data from Malaysia is used to support this main thesis that much more
needs to be done to support research in Islamic economics. The paper also
highlights the need to establish an International Fund for Research in Islamic
Economics (IFRIE) and discusses possible features, sources scope and
priority research areas, types of funds combined with proposals to ensure
that the fund is administered efficiently. The paper ends with calls for
immediate action in the setting up of a joint international Islamic economics
Research Council to oversee the development and management of the
proposed fund. |
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