Integrating Maqasid al-Shariah Framework into National Fiscal Policy Design: A Dynamic Panel Data Analysis of Islamic Economic Performance Across OIC Countries
Abstract
The integration of Maqasid al-Shariah into national fiscal policy has gained increasing scholarly attention, yet empirical evidence assessing its macroeconomic impact remains limited. This study examines how Maqasid-oriented fiscal frameworks influence economic performance across 35 Organization of Islamic Cooperation (OIC) countries over the period 2005–2023. A composite Maqasid-based Fiscal Policy Index is constructed, incorporating indicators of social expenditure, zakat governance effectiveness, Islamic financial sector depth, and poverty alleviation performance. Using System Generalized Method of Moments (System-GMM) to address endogeneity and dynamic effects, the findings indicate that Maqasid-oriented fiscal policies significantly promote inclusive economic growth, reduce income inequality, and enhance human development outcomes. The results further show that institutional quality plays a moderating role, strengthening the positive impact of Islamic fiscal instruments on macroeconomic stability. Robustness tests confirm consistency across alternative specifications and sub-regional groupings. This study contributes to the Islamic public finance literature by operationalizing Maqasid principles into measurable fiscal indicators and providing empirical validation for Shariah-based policy frameworks. Policy implications suggest that governments in Muslim-majority countries should institutionalize ethical redistributive mechanisms within national budgetary systems to achieve sustainable and socially equitable development.
Downloads
References
Brauer, F. (2008). Compartmental models in epidemiology. Mathematical Epidemiology, 19, 19–79.
Chasanah, U., Danang, D., & Setiadi, T. (2024). Decision-making system for selection of prospective scholarship recipients using the SAW (Simple Additive Weighting) method at Vocational School Bina Negara Gubug. Journal of Engineering, Electrical and Informatics, 4(1), 66–80.
Diekmann, O., Heesterbeek, J. A. P., & Metz, J. A. J. (1990). On the definition and the computation of the basic reproduction ratio R0R0 in models for infectious diseases in heterogeneous populations. Journal of Mathematical Biology, 28(4), 365–382.
Englishtina, I., Putranti, H. R. D., Danang, D., & Pujiati, A. A. B. (2024). SITENAR CERYA as an innovation in English language learning at SMP Stella Matutina Salatiga: Merging technology and folktales. REKA ELKOMIKA: Jurnal Pengabdian kepada Masyarakat, 5(3), 241–250.
Keeling, M. J., & Rohani, P. (2008). Modeling Infectious Diseases in Humans and Animals. Princeton University Press.
Kermack, W. O., & McKendrick, A. G. (1927). A contribution to the mathematical theory of epidemics. Proceedings of the Royal Society of London. Series A, 115(772), 700–721.
Laily Eka Andrianni, Danang, D., & Dani Sasmoko. (2024). Perancangan sistem pendukung keputusan pemilihan perguruan tinggi swasta di Kota Semarang dengan metode AHP untuk siswa SMK Bina Negara Gubug. Jurnal Publikasi Ilmu Komputer dan Multimedia, 2(3), 27–43. https://doi.org/10.55606/jupikom.v2i3.2852
Lilis Suryani, Danang, D., & Khoirur Rozikin. (2024). Interface-based loan fund performance monitoring and evaluation system at BKM Ngesrep Semarang. Journal of Engineering, Electrical and Informatics, 3(3), 62–81. https://doi.org/10.55606/jeei.v3i3.2868
Muhadi, E., Sulartopo, S., Danang, D., Sasmoko, D., & Setiawan, N. D. (2024). Rancang bangun sistem keamanan ruang persandian menggunakan RFID dan sensor PIR berbasis IOT. Router: Jurnal Teknik Informatika dan Terapan, 2(1), 8–20.
Najib, M. A., Sulartopo, S., Sasmoko, D., Danang, D., & Suasana, I. S. (2024). Sistem pendeteksi bencana kebakaran menggunakan ESP32 dan Arduino berbasis WEB: Studi kasus di Toko Citra Berkah Karangawen Demak. Neptunus: Jurnal Ilmu Komputer dan Teknologi Informasi, 2(1), 15–24.
Press, W. H., Teukolsky, S. A., Vetterling, W. T., & Flannery, B. P. (2007). Numerical Recipes: The Art of Scientific Computing. Cambridge University Press.
Putranti, H. R., Retnowati, R., Sihombing, A. A., & Danang, D. (2024). Performance assessment through work gamification: Investigating engagement. South African Journal of Business Management, 55(1), 1–12.
Reslili, A. S., & Danang, D. (2024). Rancang bangun aplikasi penjualan oxygen pada PT. Sinar Purnama Sakti Semarang. Jurnal Informatika dan Teknologi Komputer (JITEK), 4(1), 35–44.
Rivers, C. M., Lofgren, E. T., Marathe, M., Eubank, S., & Lewis, B. L. (2014). Modeling the impact of interventions on an epidemic of Ebola in Sierra Leone and Liberia. PLoS Currents Outbreaks, 6.
Umam, M. K., Danang, D., Siswanto, E., & Setiawan, N. D. (2024). Rancang bangun otomasi air suling daun cengkeh berbasis Arduino. Repeater: Publikasi Teknik Informatika dan Jaringan, 2(2), 1–10.