The Politics of Regime Mainstreaming: Knowledge Production and the Institutionalization of Islamic Finance
Islamic finance has been surprisingly undertheorized in the international relations literature. In this paper, I fill this gap by investigating the dynamics of mainstreaming within the Islamic finance regime in global markets. Using the norm diffusion literature, I argue that the development and dif...
Main Author: | |
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Format: | Electronic Article |
Language: | English |
Check availability: | HBZ Gateway |
Journals Online & Print: | |
Fernleihe: | Fernleihe für die Fachinformationsdienste |
Published: |
[2019]
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In: |
Politics and religion
Year: 2019, Volume: 12, Issue: 4, Pages: 606-628 |
Standardized Subjects / Keyword chains: | B
Islamic banking
/ Financial policy
/ World economy
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IxTheo Classification: | AD Sociology of religion; religious policy BJ Islam ZC Politics in general |
Online Access: |
Volltext (Resolving-System) Volltext (doi) |
Summary: | Islamic finance has been surprisingly undertheorized in the international relations literature. In this paper, I fill this gap by investigating the dynamics of mainstreaming within the Islamic finance regime in global markets. Using the norm diffusion literature, I argue that the development and diffusion of Islamic economics, and the corresponding expertise, have followed three distinct steps. First, Islamic economics initially was a critique of capitalism and world markets; second, it was "nationalized" by the political leaders of major Muslim-majority countries; and third, it became an integral part of world markets. By tracing the development of Islamic finance as part of global politics, I situate it within a theoretical framework and show the wider implications of this economic framework for global politics. |
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ISSN: | 1755-0491 |
Contains: | Enthalten in: Politics and religion
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Persistent identifiers: | DOI: 10.1017/S1755048319000026 |