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Developing an index of socio-economic development consistent with Maqasid al-Shariah
Other Title(s)
تطوير مؤشر للتنمية الاقتصادية و الاجتماعية متوافق مع مقاصد الشريعة
Author
Source
Journal of King Abdulaziz University : Islamic Economics
Issue
Vol. 30, Issue 1 (31 Jan. 2017), pp.117-130, 14 p.
Publisher
King Abdulaziz University Scientific Publishing Center
Publication Date
2017-01-31
Country of Publication
Saudi Arabia
No. of Pages
14
Main Subjects
Economy and Commerce
Islamic Studies
Abstract EN
Human Development Index (HDI) is the most widely used index for assessing the level of economic development ; however, it does not account explicitly for environmental degradation, social infrastructure, income distribution and poverty.
This study strives to assist in building a comprehensive index that covers these elements which are considered important for ensuring sustainable development and that are also reflective of the maqāṣid al-Sharīʿah.
Our findings represent striking differences between HDI and Extended HDI (E-HDI) rankings as we studied the position of 108 countries divided into non-OIC high-income countries (39 countries), non-OIC middle-income countries (26 countries) and OIC Muslim countries (43 countries).
Among the 43 Organization of Islamic Cooperation (OIC) countries in our sample, 16 OIC countries improve their ranking in E-HDI as compared to HDI.
Interestingly, other than Iraq, all of the OIC countries which improve their ranking are relatively poorer and non-oil rich countries.
Strikingly, all 39 non-OIC high income countries in our sample go down in E-HDI ranking as compared to their respective rank in HDI.
Contrastingly, all non-OIC middle-income countries except Romania perform much better in E-HDI as compared to HDI.
The top 19 countries in E-HDI all comprise of non-OIC middle-income countries in our sample.
It shows that the broad-based indicators that we have included to account for non-income development aspects consistent with maqāṣid al-Sharīʿah make a significant impact on the rankings.
American Psychological Association (APA)
al-Shaykh, Salman Ahmad. 2017. Developing an index of socio-economic development consistent with Maqasid al-Shariah. Journal of King Abdulaziz University : Islamic Economics،Vol. 30, no. 1, pp.117-130.
https://search.emarefa.net/detail/BIM-735065
Modern Language Association (MLA)
al-Shaykh, Salman Ahmad. Developing an index of socio-economic development consistent with Maqasid al-Shariah. Journal of King Abdulaziz University : Islamic Economics Vol. 30, no. 1 (Jan. 2017), pp.117-130.
https://search.emarefa.net/detail/BIM-735065
American Medical Association (AMA)
al-Shaykh, Salman Ahmad. Developing an index of socio-economic development consistent with Maqasid al-Shariah. Journal of King Abdulaziz University : Islamic Economics. 2017. Vol. 30, no. 1, pp.117-130.
https://search.emarefa.net/detail/BIM-735065
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 129
Record ID
BIM-735065