Economic Development: The Critical Role of Competition Law and Policy

2011 ◽  
Keyword(s):  
Economic Development ◽  
Critical Role ◽  
Competition Law ◽  
Law And Policy

KAUTILYA ON THE SCOPE AND METHODOLOGY OF ACCOUNTING, ORGANIZATIONAL DESIGN AND THE ROLE OF ETHICS IN ANCIENT INDIA

2004 ◽  
Vol 31 (2) ◽  
pp. 125-148 ◽  
Author(s):  
Balbir S. Sihag
Keyword(s):  
Economic Development ◽  
Economic Performance ◽  
Organizational Design ◽  
Conflicts Of Interest ◽  
Critical Role ◽  
Ethical Values ◽  
Allocation Of Resources ◽  
Economic Data ◽  
Ancient India

Kautilya, a 4th century B.C.E. economist, recognized the importance of accounting methods in economic enterprises. He realized that a proper measurement of economic performance was absolutely essential for efficient allocation of resources, which was considered an important source of economic development. He viewed philosophy and political science as separate disciplines but considered accounting an integral part of economics. He specified a very broad scope for accounting and considered explanation and prediction as its proper objectives. Kautilya developed bookkeeping rules to record and classify economic data, emphasized the critical role of independent periodic audits and proposed the establishment of two important but separate offices - the Treasurer and Comptroller-Auditor, to increase accountability, specialization, and above all to reduce the scope for conflicts of interest. He also linked the successful enforcement of rules and regulations to their clarity, consistency and completeness. Kautilya believed that such measures were necessary but not sufficient to eliminate fraudulent accounting. He also emphasized the role of ethics, considering ethical values as the glue which binds society and promotes economic development.

The Industrial Politics of the Kreditbanken, 1880–1914

1977 ◽  
Vol 51 (2) ◽  
pp. 190-207 ◽  
Author(s):  
Hugh Neuburger
Keyword(s):  
Economic Development ◽  
World War I ◽  
Critical Role ◽  
Electrical Equipment ◽  
Investment Banks ◽  
German Industry ◽  
World War ◽  
Financial Strength

One of the most durable theories explaining the remarkable rise of German industry in the generation before World War I was that of the critical role of the Kreditbanken, the great commercial and investment banks of which the Deutsche Bank was the most prominent. Recently, however, historians have begun to question the power of the banks, and even to suggest that they were a drag on German economic development. In this brief study of how Georg Siemens, of the Deutsche Bank, kept the peace between the two leading German electrical equipment manufacturers, Professor Neuburger shows that the crucial factors were not merely the financial strength or weakness of the Bank, but also the diplomatic skill with which its leaders navigated the rapidly shifting currents of the era.

scholarly journals Al-Hisbah Contextualization in the Business Competition Law in Indonesia

AL- ADALAH ◽  
2019 ◽  
Vol 16 (2) ◽  
pp. 249-262
Author(s):  
Ninik Zakiyah ◽  
Paramita Prananingtyas ◽  
Hari Sutra Disemadi ◽  
Konstantin Gubanov
Keyword(s):  
Economic Development ◽  
Market Competition ◽  
Competition Law ◽  
Economic Democracy ◽  
Economic Activities ◽  
Conceptual Approach ◽  
National Economic ◽  
National Economic Development

Supervision of market activities and competition in Islam has existed since the time of Prophet Muhammad PBUH and, at the same time, became a duty of an official called a muhtasib (supervisor). Al-Hisbah, as a controller institution for economic activities and market competition, aims to uphold the amar ma'ruf nahi munkar (commanding the good and forbidding the evil). Meanwhile, KPPU, as an independent institution, functions as a controller of the practice of monopolies and unfair business competition in Indonesia under the principle of economic democracy to support national economic development. This research uses the juridical-normative method with a historical and conceptual approach. Having compared the role of KPPU in supervising business competition to al-hisbah institution in Islam, this study finds out that KPPU, in general, is similar to al-hisbah on account that the substance and the values contained in al-hisbah have been embedded in KPPU especially in upholding amar ma'ruf nahi munkar in economic activities and business competition.

scholarly journals The Role of Islamic Financial Institutions in the Socio-economic Development in Malaysia

1991 ◽  
Vol 30 (4II) ◽  
pp. 1131-1142 ◽  
Author(s):  
Muhammad Anwar
Keyword(s):  
Economic Development ◽  
Financial Institutions ◽  
Third World ◽  
Critical Role ◽  
Leading Role ◽  
Muslim Countries ◽  
Socio Economic Development ◽  
Islamic Financial Institutions ◽  
The Third World

It is a truism to say that the financial sector plays a critical role in the socio-economic development of any country. Financial institutions provide for effective mobilisation and allocation of savings and this contributes effectively towards socio-economic development. Malaysia, which is, as of now, perhaps the fastest growing country in the third world, is characterised by a well-developed fmancial system. What, however, is unique about Malaysia is that, as in some other Muslim countries, conventional and Islamic fmancial institutions exist side by side, interacting with one another. The development of Islamic fmancial institutions in Malaysia has the potential to play a leading role in serving the Muslim Ummah and contribute towards socio-economic development of the country in conformity with Islamic se~ibilities. Yet their market share is rather insignificant in comparison with the conventional fmancial institutions. As elsewhere, financial institutions in Malaysia provide four distinct types of intermediation in the process of exchanging funds and fmancial instruments among the surplus units and the deficit units - viz., denomination intermediation, maturity intermediation, risk diversification intermediation, and liquidity intermediation.

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