2001 Fiscal Year Final Research Report Summary
Research on Systemic Stability of Finance in Middle East Oil Producing Countries
| Project/Area Number |
11630044
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
経済政策(含経済事情)
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| Research Institution | The University of Tokushima |
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Principal Investigator |
MIZUSHIMA Takio The University of Tokushima, Faculty of Integrated Arts and Sciences, professor, 総合科学部, 教授 (10219628)
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| Project Period (FY) |
1999 – 2001
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| Keywords | Islamic Economy / International Finance / Middle East / Gulf Oil Producing Countries / Economic Crisis / Currency Crisis / National Economy / Key Currency |
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| Research Abstract |
(1) From strict view points, Islamic Economy system as ideology conflicts with activities of actual Islamic economy. Therefore, activities of actual Islamic Economy cover only fields in which conflicts between modern capitalistic production mode and ideology of Islamic Economy do not exist
(2) National Economy is formed by only existence of borders. Therefore, a community striding over borders can not exist, and Middle East countries should be analyzed according each country
(3) Fiat money "US $" can be circulated among people as long as the world-wide re-production of goods for the American economy, behind monetary dealings, is performed successfully. Therefore, as long as keeping usage of US $, the financial system in Middle East can be sustained fundamentally only by stability of such re-production system
(4) In the "New Crisis" which can be happened despite sound re-production, a middle east country was attacked by hedge fund money. But, the attack was defended by the intervention of the central bank. But, one of the reasons of the successful protection exists in the closed financial system. As Middle East countries advance market-economy of themselves by deregulation and privatization, attentive ulterior observation is needed
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