Abstract:

In the last few years institutional perspective has an important place in researches on economic development and comparative analysis of economic development experiences in different states. Even though these studies try to bring a historical perspective to the divergence of economic development levels among states, they come short in their analysis with respect to their views on historical institutions and experiences, explanation of these institutions within their historical context and the ideational foundation, economic system vision that gives rise to these institutions. This study not only examines the importance and functioning of awqafand more specifically cash waqfsas institutions in the Ottoman State experience, but also draws attention to the foundation of economic ideas that enables the rise of these institutions. In doing so, this research utilizes institutional theory perspective with an interdisciplinary orientation  of economic history, political economy, economic development and the influence of economic ideas on institutional formation. This study shows that cash waqfsas inclusive institutions have adapted to the historical circumstances, have been one of the essential elements in ensuring the sustainability of the economic and political system in the Ottoman State and they shed light to the contemporary debates on sustainable and egalitarian wealth distribution.

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