Business, Management and Accounting
8 years ago

Switching to Islamic monetary system could significantly reduce inflation rates

Dynamics of inflation determinants under dual monetary system: empirical evidence from Malaysia
Dimas Bagus Wiranata Kusuma, Salina Kassim, Muhammad Ali Fikri

Paper Summary

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The article explores what causes inflation in different monetary systems and compares a conventional system to an Islamic one. By analyzing data from 1995 to 2011, the researchers found that when Islamic money, PLS return, and gold price are used instead of fiat money, interest rate, and exchange rate, inflation rates decrease significantly.