Analysis of Cash Waqfs and Real Wages in Ottoman Rumelia, 1500-1914

IF 2.8 Q2 BUSINESS, FINANCE

ISRA International Journal of Islamic Finance Pub Date : 2024-05-06 DOI:10.55188/ijif.v16is1.675

Bora Altay, Mehmet Bulut

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Abstract

Purpose - This study employs a substantial number of primary sources of cash waqf contracts (waqfiyya) to conduct a long-term analysis of cash waqfs and the real wages of waqf employees in Ottoman Rumelia from the sixteenth century to the First World War. Design/Methodology/Approach - The descriptive analysis includes economic variables recorded in contracts. The analysis focuses on the trend of capital levels, profit shares (riba), and numbers of cash waqfs over 50-year periods, and the daily wages of the five different groups. Originality/Value - This study’s main contribution is the quantitative and systematic analysis of capital levels and real wages, for the first time. Research Implications - The findings indicate that daily wages increased and peaked during the seventeenth and eighteenth centuries, which may reflect economic growth. However, real wages decreased in the early twentieth century, likely because of the exogenous shocks of wars, revolts, and revolutionary movements in the Balkan territories. Keywords - Economic History, Islamic Finance, The Ottoman Empire, Cash Waqf, Rumelia, Real Wages Article Classification – Research paper

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1500-1914 年奥斯曼鲁梅利亚的现金宗教基金和实际工资分析

目的--本研究利用大量现金宗教基金合同（waqfiyya）的原始资料，对 16 世纪至第一次世界大战期间奥斯曼帝国鲁梅利亚的现金宗教基金和宗教基金雇员的实际工资进行了长期分析。设计/方法/途径 - 描述性分析包括合同中记录的经济变量。分析的重点是 50 年间资本水平、利润份额（riba）和现金腰包数量的变化趋势，以及五个不同群体的日工资。原创性/价值 - 本研究的主要贡献在于首次对资本水平和实际工资进行了定量和系统分析。研究意义--研究结果表明，日工资在 17 世纪和 18 世纪有所增加并达到顶峰，这可能反映了经济增长。然而，实际工资在二十世纪初有所下降，这可能是由于巴尔干地区的战争、起义和革命运动等外来冲击造成的。关键词 - 经济史、伊斯兰金融、奥斯曼帝国、现金宗教基金、鲁梅利亚、实际工资文章分类 - 研究论文

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

ISRA International Journal of Islamic Finance BUSINESS, FINANCE-

CiteScore

3.40

自引率

17.40%

发文量

审稿时长

20 weeks

期刊介绍： It is the aspiration of the editorial committee that IJIF achieves the highest rank in quality and substance. It is thus our aim that the journal be carried in the Thompson Reuters’ ISI and Scopus databases. By ensuring high standards in articles published in Islamic finance we ensure that further innovation and research is carried out and promoted in the Islamic finance industry and academia. IJIF publishes 2 issues per annum.