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Contact Name
Hasna Luthfi
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hasnaluthfikha@gmail.com
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+6281380700081
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smartinsight.id@gmail.com
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INDONESIA
Islamic Economics Methodology
Published by Smart Insights
ISSN : -     EISSN : 29858917     DOI : -
Islamic Economics Methodology adalah publikasi ilmiah yang diterbitkan oleh SMART Insight yang berada di bawah lembaga riset SMART Indonesia. Sharia Economic Applied Research and Training (SMART) adalah lembaga penelitian di Indonesia yang fokus pada riset seputar ekonomi dan keuangan Islam. Islamic Economics Methodology terbit dua (2) kali dalam 1 tahun.
Articles 35 Documents
Agricultural Efficiency of OIC Countries: Addressing SDG-2 Output Prakoso, Muhammad Fajar Dito
Islamic Economics Methodology Vol. 4 No. 1 (2025): Islamic Economics Methodology
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/iem.v4i1.666

Abstract

The research method employs a DEA approach to measure the relative efficiency of each country in utilizing agricultural inputs to produce the desired outputs. The analysis was conducted to determine the annual average efficiency, the variation between countries, and the overall ranking based on the average efficiency over the study period. The analysis is further extended by measuring productivity using the Malmquist Productivity Index (MPI). The results reveal that several OIC countries, such as Egypt, Uzbekistan, and Yemen, consistently achieved full efficiency during the study period, while countries like Uganda and Afghanistan recorded persistently low efficiency levels. The MPI results show that overall productivity growth in OIC agriculture was driven mainly by technological progress rather than efficiency improvements. These findings indicate heterogeneous performance and underline the importance of technology adoption and governance quality in driving agricultural transformation. The results provide actionable insights for policymakers to design strategies enhancing agricultural efficiency, including regional cooperation, technological innovation, and institutional reforms to strengthen food security systems in OIC member states.
Book Review: Islamicity Indices, The Seed for Change Riani, Ririn
Islamic Economics Methodology Vol. 4 No. 2 (2025): Islamic Economics Methodology
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/iem.v4i2.667

Abstract

The book Islamicity Indices: The Seed for Change by Hossein Askari and Hossein Mohammadkhan (2016) introduces a quantitative framework to measure the extent to which countries apply Islamic values in their social, economic, and political practices. Through five main indices—economic, legal and governance, human and political rights, international relations, and an overall index—the authors reveal that many non-Muslim countries are precisely more "Islamic" in their implementation of the values of justice, transparency, and social welfare than countries with majority-Muslim populations. This study affirms the need for structural and ethical reforms so that the Muslim world can return to the principles of justice and universal welfare as taught by the Qur’an and exemplified by Prophet Muhammad PBUH.
Determining the Priority of Sharia Pension Fund Problems Ardiansyah, Faisal; Wiyoko, Fathan
Islamic Economics Methodology Vol. 4 No. 2 (2025): Islamic Economics Methodology
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/iem.v4i2.697

Abstract

The development of sharia pension funds in Indonesia still faces various structural, institutional, and social obstacles, despite the large potential of the national sharia financial market. This study aims to identify and determine the main priorities of the problem of sharia pension funds in Indonesia based on the perception of experts. The method used is the Delphi method involving five experts from academics, practitioners, and Islamic economic regulators. The analysis was carried out using three main indicators of the Delphi method, namely mean value, standard deviation, and interquartile range (IR) to measure the level of consensus. The results of the study showed that all 17 variables of the problem of sharia pension funds reached an adequate consensus level. The three main priority problems agreed upon by the experts are: (1) approval from the founder, (2) the lack of sharia principle guidelines for sharia pension funds, and (3) the limited qualifications of human resources in the implementation of sharia contracts. These findings confirm that the main obstacles to sharia pension funds are not only technical, but also institutional and governance, thus requiring comprehensive policy interventions from regulators and relevant stakeholders.
Determining the Priorities of Macroprudential Indicators in Indonesia Parizi, Ahmat; Anas
Islamic Economics Methodology Vol. 4 No. 2 (2025): Islamic Economics Methodology
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/iem.v4i2.707

Abstract

Financial system stability is the main prerequisite for the sustainability of a country's economic growth. In this context, macroprudential policy plays an important role in mitigating systemic risks originating from the financial and real sectors. However, the effectiveness of macroprudential policies is largely determined by the accuracy of the indicators used as early warning indicators. This study aims to determine the priority macroprudential indicators that are most relevant to Indonesia based on the assessment of experts. The method used is the Delphi method involving nine experts who have competence in the field of macroeconomics and financial stability. The analysis was carried out using statistical measures in the form of mean values, standard deviation, and interquartile range (IR) to measure the consensus level. The results showed that of the 20 macroprudential indicators analyzed, there were 13 indicators that reached consensus (convergent) and 7 indicators that did not reach consensus (divergent). The indicators with the highest priorities are the current account deficit, the adequacy of foreign exchange reserves, and the employment rate. These findings underscore the importance of external sector and labor market indicators in the macroprudential policy framework in Indonesia.
Does the 2024 Indonesian President Elections Have an Impact to JII Companies Performance? Kharista, Salwa Dina; Berakon, Izra
Islamic Economics Methodology Vol. 4 No. 2 (2025): Islamic Economics Methodology
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/iem.v4i2.716

Abstract

This study aims to analyze the reaction of the Indonesian capital market, especially the Jakarta Islamic Index (JII) company, to three events in the 2024 Presidential Election (Pilpres): Determination of Presidential and Vice Presidential Candidates, Announcement of Winners by the KPU, and Inauguration of the President and Vice President. The event study method was used to test the influence of Abnormal Return (AR) and Trading Volume Activity (TVA) as indicators of market reaction. The daily data on JII's stock price and trading volume were analyzed using descriptive statistics, normality tests, Friedman Test, and Wilcoxon Signed Ranks Test. The results of the Friedman Test showed that the AR hypothesis was rejected, while the TVA was accepted, indicating that there was no significant difference in AR, but there was a significant difference in the TVA around the date of the event. The Wilcoxon Signed Ranks Test shows a rejection of the AR hypothesis on all events and the TVA only shows significant differences in the events of the Presidential and Vice President's Inaugurations.

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