The Nexus Between Islamic Human Development Index (I-HDI), Islamic Social Finance, Governance, and Poverty: A Case Study in ASEAN
Abstract
The poverty factors are multidimensional. Even though ASEAN countries are top global Islamic economics countries, Sharia instruments have not been well-utilized to resolve it. Therefore, this research aims to combine the Sharia and conventional socio-economics instruments by examining relationships between the Islamic Human Development Index (I-HDI), Islamic social finance, and six governance indicators on poverty. The 540-panel data from 2007 to 2021 was taken by purposive sampling method and tested by the Fixed Effect Model. This research showed that I-HDI, Islamic philanthropy, voice accountability, and control corruption significantly influence reducing poverty. This study implies the government in ASEAN to use I-HDI as a human development benchmark, maximize Islamic philanthropy for productivity, increase public participation, and control corruption to eradicate poverty.
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References
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DOI: 10.15408/aiq.v16i1.36710
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