Abstract | الملخص

The study shows the distinction of foreign trade in Islamic economy because it depends on general rules, Sharia' regulations, and highly-respected values and ethics. The research also shows that, when examining Heckscher–Ohlin theory, it reveals some severe deficiencies, and has limited benefits when it is put into practice as it lacks logical reasoning. It's also based on hypotheses that can't stand reality. The theory is valid in the light of its accurate interpretations for the reasons of conducting and setting up foreign trade; nevertheless, it has some criticisms and observations regarding its practicality. it doesn't mean to disregard it. It has explained an important part of the flow of goods among nations. In addition, the theory can be useful in case it is amended to expand the model to more than two production functions and two international goods According to Islamic economic thought, we notice the following on the theory. It stresses exchange between developed and developing countries, but it doesn't give interpretations to international exchanges between countries which differ in production functions and have different tastes. And this contradicts with Islam comprehensiveness. The theory also implies that the developing countries continue to exploit their plentiful natural resources due to the production of goods, which depend on the availability of natural resources, and then exchanging them with countries that produce goods requiring gained skills. This excessive exploitation of these natural resources ignores the coming generations' interests.

Authors | المؤلفون

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Keywords | الكلمات الدالة

Foreign trade, international Economy, Islamic Economy, Foreign trade in Islam, Heckscher–Ohlin theory

Full Text | المقال كاملا

References | المراجع