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All Journal Signifikan : Jurnal Ilmu Ekonomi
Shofiatul Hilwa
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Economics, Econometrics & Finance

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Human Development and Income Inequality in D-8 Countries: A Maqashid Sharia Perspective Shofiatul Hilwa; Risna Triandhari; Parianom, Raden
Signifikan: Jurnal Ilmu Ekonomi Vol. 15 No. 1 (2026)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v15i1.49355

Abstract

Research Originality: This study is original in applying a Maqashid Sharia-based human development index to examine the short- and long-run effects of human development on income inequality in D-8 countries. Research Objectives: This study aims to analyze whether human development based on the Maqashid Sharia framework can effectively reduce income inequality in D-8 countries in both the short run and the long run. Research Methods: Using panel data from eight D-8 countries during 2003–2022, income inequality is measured by the Gini index and the Palma ratio, while human development is represented by the Maqashid Sharia Index (MSI). The analysis employs a Panel ARDL model with the Pooled Mean Group estimator to capture short-run and long-run relationships. Empirical Results: The results show that Maqashid Sharia-based human development significantly reduces income inequality in the long run across D-8 countries, reflecting the maslahah-oriented approach of Islamic economic development. In the short run, it reduces inequality in Indonesia and Turkey but increases inequality in Bangladesh, Egypt, and Nigeria. Implications: These findings suggest that human development policies should incorporate moral and value-based dimensions. Policymakers in D-8 countries need to promote not only education, health, and income, but also ethical values to ensure more equitable income distribution. JEL Classification: C33, F22, I32, J61, J62
Co-Authors Raden Parianom Risna Triandhari