The role of human capital in economic development of the earliest Islamic period
International Journal of Islamic and Middle Eastern Finance and Management
ISSN: 1753-8394
Article publication date: 16 November 2015
Abstract
Purpose
The purpose of this paper is to provide explanation for the economic development of the earliest Islamic state. It focuses on the role of human capital as the most important element of this model and focuses on four dimensions of development of human personality in Islam: the incentive structure, rules of behavior, institutions and policies.
Design/methodology/approach
A review and analysis of the measures and policies that Prophet of Islam and his successors adopted are made to arrive at the underlying economic model of development.
Findings
The major finding is the role of human capital in the development of the economy at that time.
Originality/value
The contribution of the paper is to identify the critical role of education and skills for the development of the economy at present.
Keywords
Acknowledgements
The author is indebted greatly to Professor Abbas Mirakhor for revision of the original text and making valuable contributions. The author is also thankful to Dr Kani and Ms A. Al-Abed for their valuable assistance.
Citation
Sadr, S.K. (2015), "The role of human capital in economic development of the earliest Islamic period", International Journal of Islamic and Middle Eastern Finance and Management, Vol. 8 No. 4, pp. 398-417. https://doi.org/10.1108/IMEFM-12-2014-0122
Publisher
:Emerald Group Publishing Limited
Copyright © 2015, Emerald Group Publishing Limited