[Home ] [Archive]   [ فارسی ]  
:: About :: Main :: Current Issue :: Archive :: Search :: Submit :: Contact ::
Main Menu
Home::
Journal Information::
Articles archive::
For Authors::
For Reviewers::
Registration::
Contact us::
Site Facilities::
::
Search in website

Advanced Search
..
Receive site information
Enter your Email in the following box to receive the site news and information.
..
:: Volume 5, Issue 16 (11-2016) ::
mieaoi 2016, 5(16): 93-119 Back to browse issues page
The impact of Gharz al-Hasaneh on Income Distribution in Iran (By Using Index of Income Relative Share of Deciles)
Abstract:   (5326 Views)

In Islamic financial system, Gharz al-Hasaneh-(loan without interest)- has introduced as one of the effective instruments for decreasing income inequality that it by establishment money flow from wealthy classes to low income classes has a main role in decentralization of wealth in wealthy classes and income improvement in low income classes. The aim of this paper is to investigate the short-run and long-run relationship between the Gharz al-Hasaneh as independent variable and income distribution as dependent variable based on Kuznets hypothesis by using time series data and ARDL method during 1984-2012. In this model, the index of income relative share of deciles has been used as the index of income distribution because this index calculates the relative intensities of income inequality between high and low income deciles more accurate than other models. Estimation result reject Kuznets hypothesis. Also, estimation results indicate that the Gharz al-Hasaneh has significant impact on distribution income improvement. In other word, one unit increasing in the Gharz al-Hasaneh improves income distribution about 0/1594E-3 unit. Also, error correction coefficient with 96 percent shows adjustment short-run model to long run model at each period is 96% that this adjustment speed is very high and one period is enough for adjustment model. In this study, while emphasizing the restoration of the divine tradition Gharz al-Hasaneh and regarding the decreasing share of this loans in Iranian banking system, this paper suggests that with decreasing legal reserve ratio of the Gharz al-Hasaneh deposits and exact monitoring on the transfer of this facilities to poor people, we can improve income distribution and reduce the gap of incomes classes.

Keywords: Gharz al-Hasaneh Facilities, Income Distribution, Income Deciles, ARDL Model
Full-Text [PDF 886 kb]   (1203 Downloads)    
Article type: Research | Subject: Special
Received: 2016/12/13 | Accepted: 2016/12/13 | Published: 2016/12/13
Add your comments about this article
Your username or Email:

CAPTCHA


XML   Persian Abstract   Print


Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:

The impact of Gharz al-Hasaneh on Income Distribution in Iran (By Using Index of Income Relative Share of Deciles). mieaoi 2016; 5 (16) :93-119
URL: http://mieaoi.ir/article-1-372-en.html


Rights and permissions
Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Volume 5, Issue 16 (11-2016) Back to browse issues page
نشریه اقتصاد و بانکداری اسلامی Islamic Economics and Banking
Persian site map - English site map - Created in 0.06 seconds with 35 queries by YEKTAWEB 4692