Jurnal Investasi Islam
Vol. 11 No. 1 (2026): Jurnal Investasi Islam (JII)

Perfectly Competitive Markets in Islamic Economics: A Systematic Literature Review on Efficiency, Justice and Market Ethics

Junia Mayang Sari (UIN Imam Bonjol Padang)
Rozalinda (UIN Imam Bonjol Padang)
Testru Hendra (UIN Imam Bonjol Padang)



Article Info

Publish Date
22 May 2026

Abstract

This study aims to analyze the development of research on perfect competition markets from an Islamic economic perspective using a Systematic Literature Review (SLR) approach. Previous research has generally focused more on market efficiency in conventional economics, while the integration of efficiency, justice, and Sharia ethics has been discussed only to a limited extent in a systematic manner. Furthermore, there are still relatively few SLR studies on perfect competition markets in Islamic economics. This study employs the PRISMA method on Scopus-indexed and web of science articles from 2019 to 2025 using the keyword “perfect competition market in Islamic perspective.” From the initial 85 articles identified, a screening process was conducted based on topic relevance, methodological suitability, and eligibility criteria. Consequently, 10 final articles were selected for in-depth analysis. The results indicate that previous studies have been dominated by discussions of market efficiency and price mechanisms, while aspects of market ethics, Sharia oversight, and distributive justice remain relatively under-researched. Furthermore, most studies remain conceptual and normative, with limited empirical research on the implementation of Islamic markets within the context of modern economics. This study underscores the importance of developing Sharia-based market regulations and models that are oriented not only toward economic efficiency but also toward social justice and welfare.

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Journal Info

Abbrev

jii

Publisher

Subject

Economics, Econometrics & Finance

Description

Jurnal Investasi Islam adalah jurnal akademis yang diterbitkan dua kali dalam setahun oleh Fakultas Ekonomi dan Bisnis Islam, Institut Agama Islam Negeri Langsa. Jurnal Investasi Islam bertujuan untuk menjadi bagian dalam kemajuan ilmu pengetahuan di bidang ekonomi, keuangan dan investasi islam ...