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Islamic development thinking after the global financial crisis: shaking the “consensus” or mimicking it

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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Islamic development thinking after the global financial crisis: shaking the “consensus” or mimicking it. / Geyer, Robert; Royle, Steve.
In: Journal on Policy and Complex Systems, Vol. 1, No. 2, 2014, p. 42-59.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Geyer, R & Royle, S 2014, 'Islamic development thinking after the global financial crisis: shaking the “consensus” or mimicking it', Journal on Policy and Complex Systems, vol. 1, no. 2, pp. 42-59. <http://www.ipsonet.org/publications/open-access/policy-and-complex-systems/policy-and-complex-systems-volume-1-number-2-fall-2014>

APA

Geyer, R., & Royle, S. (2014). Islamic development thinking after the global financial crisis: shaking the “consensus” or mimicking it. Journal on Policy and Complex Systems, 1(2), 42-59. http://www.ipsonet.org/publications/open-access/policy-and-complex-systems/policy-and-complex-systems-volume-1-number-2-fall-2014

Vancouver

Geyer R, Royle S. Islamic development thinking after the global financial crisis: shaking the “consensus” or mimicking it. Journal on Policy and Complex Systems. 2014;1(2):42-59.

Author

Geyer, Robert ; Royle, Steve. / Islamic development thinking after the global financial crisis : shaking the “consensus” or mimicking it. In: Journal on Policy and Complex Systems. 2014 ; Vol. 1, No. 2. pp. 42-59.

Bibtex

@article{1b4a1669bdb04a48aed8fbf6ad5d2314,
title = "Islamic development thinking after the global financial crisis: shaking the “consensus” or mimicking it",
abstract = "Islamic development thinking claims to be distinct from the traditional IMF/World Bank discourse on development, particularly in the Islamic banking sector. However, attempts to develop this distinctive path are caught in a continual tension between the constraints (and benefits) of the dominant neo-liberal financial and banking framework and the demands of Islamic national and local elites and societies. In this article, we chart the emergence of modern Islamic development thinking and examine if and how it has mimicked a neo-liberal model. This is explored through the cases of Iran and Malaysia and the recent initiatives to create a more unified international Islamic finance system. We argue that if Islamic development and financial thinkers are to avoid repeating the mistakes of the past “consensus” they need to create a continual balancing process between the neo-liberal system and the distinctive needs and demands of a variety of Islamic societies and actors.",
keywords = "Islam, development, finance, complexity",
author = "Robert Geyer and Steve Royle",
year = "2014",
language = "English",
volume = "1",
pages = "42--59",
journal = "Journal on Policy and Complex Systems",
issn = "2372-8590",
number = "2",

}

RIS

TY - JOUR

T1 - Islamic development thinking after the global financial crisis

T2 - shaking the “consensus” or mimicking it

AU - Geyer, Robert

AU - Royle, Steve

PY - 2014

Y1 - 2014

N2 - Islamic development thinking claims to be distinct from the traditional IMF/World Bank discourse on development, particularly in the Islamic banking sector. However, attempts to develop this distinctive path are caught in a continual tension between the constraints (and benefits) of the dominant neo-liberal financial and banking framework and the demands of Islamic national and local elites and societies. In this article, we chart the emergence of modern Islamic development thinking and examine if and how it has mimicked a neo-liberal model. This is explored through the cases of Iran and Malaysia and the recent initiatives to create a more unified international Islamic finance system. We argue that if Islamic development and financial thinkers are to avoid repeating the mistakes of the past “consensus” they need to create a continual balancing process between the neo-liberal system and the distinctive needs and demands of a variety of Islamic societies and actors.

AB - Islamic development thinking claims to be distinct from the traditional IMF/World Bank discourse on development, particularly in the Islamic banking sector. However, attempts to develop this distinctive path are caught in a continual tension between the constraints (and benefits) of the dominant neo-liberal financial and banking framework and the demands of Islamic national and local elites and societies. In this article, we chart the emergence of modern Islamic development thinking and examine if and how it has mimicked a neo-liberal model. This is explored through the cases of Iran and Malaysia and the recent initiatives to create a more unified international Islamic finance system. We argue that if Islamic development and financial thinkers are to avoid repeating the mistakes of the past “consensus” they need to create a continual balancing process between the neo-liberal system and the distinctive needs and demands of a variety of Islamic societies and actors.

KW - Islam

KW - development

KW - finance

KW - complexity

M3 - Journal article

VL - 1

SP - 42

EP - 59

JO - Journal on Policy and Complex Systems

JF - Journal on Policy and Complex Systems

SN - 2372-8590

IS - 2

ER -