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A Konstribusi Intelektual Muhammad Nejatullah Siddiqi dalam Dinamika Pemikiran Ekonomi Islam Kontemporer Faizah adawiyah; meylandria Early; Agus Waluyo
Jurnal Aghniya Vol. 9 No. 1 (2026): Islamic Economics and Banking Education
Publisher : Sekolah Tinggi Ilmu Ekonomi Syariah Nahdlatul Ulama Bengkulu

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Abstract

This study aims to outline the biography and academic contributions—in the form of ideas and works—of Muhammad Nejatullah Siddiqi in addressing contemporary economic challenges. This study employs a literature review (library research) method using a descriptive-analytical approach by examining various sources of literature, including books, scientific journals, and related articles. The findings indicate that Siddiqi successfully integrates Western neoclassical-Keynesian economic theory with Islamic jurisprudence (fiqh) and Islamic values rooted in the Qur’an and Sunnah. His core ideas encompass ensuring individuals’ basic needs through five institutional foundations, a production and distribution system for the public good, and the optimization of zakat as an instrument of national fiscal policy. Additionally, Siddiqi proposes the profit-sharing mechanism (mudharabah) as an alternative to the exploitative conventional banking interest system, which involves usury. His ideas have proven to be applicable and relevant to the Islamic economic ecosystem in Indonesia, as seen in BAZNAS’s social safety net programs, the growth of Islamic cooperatives, and the operations of local Islamic banking products that prioritize fairness for economic actors.
The Influence of FDI on GDP in ASEAN Countries with the Corruption Perception Index as a Moderation Variable M. Nanda Setiawan; Mardyan Nugraha; Agus Waluyo; Rina Rosia
Media Ekonomi Vol. 26 No. 2 (2026): Media Ekonomi Vol. 25 No. 2 2026
Publisher : Universitas Muhammadiyah Purwokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30595/medek.v26i2.31220

Abstract

This study is designed to unravel the dynamics of the relationship between Foreign Investment (FDI) and the expansion of economic output in the Southeast Asian region, by placing the Corruption Perception Index (CPI) as a conditioning factor. Through a quantitative approach, this research utilizes secondary data for the period 2014–2024 from ten ASEAN member countries sourced from the World Bank and Transparency International. Econometric estimation was carried out using the Random Effect Model (REM) and Moderated Regression Analysis (MRA) panel data regression methods through EViews software. The results of empirical analysis prove that FDI flows consistently provide positive and significant stimulation in encouraging an increase in Gross Domestic Product (GDP) in the ASEAN region. However, testing the interaction effect showed that the CPI did not have the statistical power to act as a moderation variable, either in strengthening or weakening the elasticity of capital to the macro output. This phenomenon indicates that investment decisions and foreign capital productivity in ASEAN are more dictated by pragmatism, regional comparative advantage, and the presence of special economic zones that are protected by regulations, rather than influenced by fluctuations in the quality of public institutional governance at the national level. The contribution of this study lies in the remapping of regional investment governance, which suggests the importance of strengthening strategic economic zoning in order to maintain investment attractiveness amid local institutional challenges