ابن تیمیہ متفرد کیوں؟ اسباب و علل کاتجزیاتی مطالعہ A Research Review of the Reasons of Ibn Taymiyya’s Distinctions

Ibn Taymiyya is known as a controversial figure due to his differences. Most of the scholars have differed with him on most of the jurisprudential and principled issues. There are many reasons for Ibn Tamiya’s differences. The difference between intellect and its use is the most important, that is, the way of thinking. The jurisprudential ability and competence that elevated him to the status of ijtihad was a result of uniqueness in ijtihad and jurisprudence. Disagreements can be caused by the circumstances of that era and the behavior of the people of that era. All the principles and their preferred methods based on which he solved jurisprudential and doctrinal issues and all the reasons why he disagreed with a section of the ummah and the ummah know these differences in the form of the differences of Ibn Taymiyya. It is very important that his jurisprudential insight and ijtihad efforts be revealed, although in many issues the majority of the scholars of the ummah have disagreed with him and their opinion differs from the great taste. Ibn Tamiya’s method of inference in jurisprudential and principled issues and the principles by which he formed an opinion on an issue and on what basis he preferred principles in solving problems are the key issues that will be discussed in the following article.

Stock Market Co-Movements and Their Determinants Between Emerging Economies.

This study has been conducted to examine the determinants of stock market co movement between Pakistan and emerging economies for the period 2001 to 2014. The results of Johansen and Juselius cointegration tests reveal that there is long term integration between the stock market of Pakistan and the stock markets of Brazil, Chile, China, Egypt, India, Indonesia, Israel, Korea, Malaysia, Morocco, Poland, Thailand and Turkey. This study investigates the determinants of stock market co-movement between Pakistan and emerging stock markets where cointegration is found. Results of the panel data reveal that there are four significant underlying forces of integration between Pakistan and emerging stock markets. These are GDP growth rate differential, inflation rate differential, world market volatility and quarter effect. This study also reports the driving forces of co-movement between Pakistan and each emerging market where the co-integration is found. It has been found that no similarity is found in the determinants of integration between Pakistan and each emerging stock market. This study also reports the determinants of stock market co-movement between Pakistan and emerging markets before crisis (2004 Q1 – 2007 Q3), during the crisis (2007 Q4 – 2009 Q4) and after the crisis period (2010 Q1 – 2014 Q4). It has been found that the determinants of integration between Pakistan and emerging markets vary before, during and after the crisis indicating that such determinants are crisis contingent variables. This study contributes to the literature of stock-market integration by exploring fundamental determinants between Pakistan and emerging economies. The findings of this study have significant implications for policy makers in Pakistan while designing the strategies for macroeconomic harmonization and stability of the country’s economy against financial shocks.