Zakat and Economic Development: Micro and Macro Level Evidence from Pakistan

Muhammad Azam, Nasir Iqbal () and Muhammad Tayyab
Additional contact information
Muhammad Azam: Ph. D Scholar, Federal Urdu University, Islamabad, Pakistan
Muhammad Tayyab: Research Scholar, AJK University, Muzaffarabad, Pakistan

Bulletin of Business and Economics (BBE), 2014, vol. 3, issue 2, 85-95

Abstract: Zakat, as a transfer payment, is an important instrument to achieve social welfare ina society in Islamic ideology. This study attempts to analyze the impact of Zakat on economic development using micro and macro level data for Pakistan. The overall analysis shows that Zakat has a positive impact on economic development in Pakistan. More specifically, micro evidence shows that Zakat significantly enhances the welfare of the households. Macro evidence also highlights that Zakat significantly contributes to economic growth in Pakistan. These findings have important implications for Pakistan.

Keywords: Zakat; transfer payment; social welfare; economic growth; Pakistan (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
https://bbejournal.com/index.php/BBE/article/view/207/163 (application/pdf)
https://bbejournal.com/index.php/BBE/article/view/207 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rfh:bbejor:v:3:y:2014:i:2:p:85-95

Access Statistics for this article

Bulletin of Business and Economics (BBE) is currently edited by Dr. Muhammad Irfan Chani

More articles in Bulletin of Business and Economics (BBE) from Research Foundation for Humanity (RFH) Contact information at EDIRC.
Bibliographic data for series maintained by Dr. Muhammad Irfan Chani ().