Does Islamic social finance promote the quality of human resources?
Purpose – This study aims to examine the contribution of Islamic Social Finance (ISF) distribution by sector (health, education, and economy) to the three dimensions of the Human Development Index (HDI) (health, education, and economy) and HDI aggregate in 34 provinces in Indonesia during the Covid...
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| Format: | Article |
| Language: | English |
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Universitas Islam Indonesia
2024-03-01
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| Series: | Review of Islamic Social Finance and Entrepreneurship |
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| Online Access: | https://jurnal.uii.ac.id/RISFE/article/view/31365 |
| _version_ | 1831868784847093760 |
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| author | Siswantoro Siswantoro Ihsanul Ikhwan |
| author_facet | Siswantoro Siswantoro Ihsanul Ikhwan |
| author_sort | Siswantoro Siswantoro |
| collection | DOAJ |
| description |
Purpose – This study aims to examine the contribution of Islamic Social Finance (ISF) distribution by sector (health, education, and economy) to the three dimensions of the Human Development Index (HDI) (health, education, and economy) and HDI aggregate in 34 provinces in Indonesia during the Covid-19 pandemic period (2020-2022).
Methodology – A total of 102 panel data, a combination of data from 34 provinces in Indonesia (cross section) for a period of three years from to 2020-2022 (time series), were analyzed using a fixed effects panel model approach. Data were obtained from the National Board of Zakat (Badan Amil Zakat Nasional, BAZNAS) and the Central Statistics Agency (Badan Pusat Statistik, BPS).
Findings – The main research results show that ISF channeled for human development purposes (in total) significantly increases the aggregate HDI by 0.008538%. However, the ISF distributed by sector (health, education, and economy) has a positive but insignificant impact on the three dimensions of HDI (health, education, and economy). This makes sense because the proportion of ISF distribution for these three fields tends to be small compared with other sectors.
Implications – It is recommended that ISF fund allocation be more efficient, equitable, fair, and capable of reaching all aspects of human life. In addition, efforts must be made to collect ISF funds more effectively through technological integration.
Originality – Most previous research has only tested Islamic social finance against HDI in aggregate, not by dimension, so the results were less specific.
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| first_indexed | 2024-04-24T07:35:35Z |
| format | Article |
| id | doaj.art-bb2921130d01430ba846419ecad6ddf2 |
| institution | Directory Open Access Journal |
| issn | 2963-847X |
| language | English |
| last_indexed | 2025-03-21T19:00:04Z |
| publishDate | 2024-03-01 |
| publisher | Universitas Islam Indonesia |
| record_format | Article |
| series | Review of Islamic Social Finance and Entrepreneurship |
| spelling | doaj.art-bb2921130d01430ba846419ecad6ddf22024-06-05T07:02:28ZengUniversitas Islam IndonesiaReview of Islamic Social Finance and Entrepreneurship2963-847X2024-03-013110.20885/RISFE.vol3.iss1.art2Does Islamic social finance promote the quality of human resources?Siswantoro Siswantoro0Ihsanul Ikhwan1Department of Economics Education, Faculty of Economics and Bussiness, Universitas Negeri Semarang, Semarang, Indonesia Department of Economics, Kulliyah of Economics and Management Science, International Islamic University Malaysia, Selangor, Malaysia Purpose – This study aims to examine the contribution of Islamic Social Finance (ISF) distribution by sector (health, education, and economy) to the three dimensions of the Human Development Index (HDI) (health, education, and economy) and HDI aggregate in 34 provinces in Indonesia during the Covid-19 pandemic period (2020-2022). Methodology – A total of 102 panel data, a combination of data from 34 provinces in Indonesia (cross section) for a period of three years from to 2020-2022 (time series), were analyzed using a fixed effects panel model approach. Data were obtained from the National Board of Zakat (Badan Amil Zakat Nasional, BAZNAS) and the Central Statistics Agency (Badan Pusat Statistik, BPS). Findings – The main research results show that ISF channeled for human development purposes (in total) significantly increases the aggregate HDI by 0.008538%. However, the ISF distributed by sector (health, education, and economy) has a positive but insignificant impact on the three dimensions of HDI (health, education, and economy). This makes sense because the proportion of ISF distribution for these three fields tends to be small compared with other sectors. Implications – It is recommended that ISF fund allocation be more efficient, equitable, fair, and capable of reaching all aspects of human life. In addition, efforts must be made to collect ISF funds more effectively through technological integration. Originality – Most previous research has only tested Islamic social finance against HDI in aggregate, not by dimension, so the results were less specific. https://jurnal.uii.ac.id/RISFE/article/view/31365Islamic social financehuman development indexCovid-19 |
| spellingShingle | Siswantoro Siswantoro Ihsanul Ikhwan Does Islamic social finance promote the quality of human resources? Review of Islamic Social Finance and Entrepreneurship Islamic social finance human development index Covid-19 |
| title | Does Islamic social finance promote the quality of human resources? |
| title_full | Does Islamic social finance promote the quality of human resources? |
| title_fullStr | Does Islamic social finance promote the quality of human resources? |
| title_full_unstemmed | Does Islamic social finance promote the quality of human resources? |
| title_short | Does Islamic social finance promote the quality of human resources? |
| title_sort | does islamic social finance promote the quality of human resources |
| topic | Islamic social finance human development index Covid-19 |
| url | https://jurnal.uii.ac.id/RISFE/article/view/31365 |
| work_keys_str_mv | AT siswantorosiswantoro doesislamicsocialfinancepromotethequalityofhumanresources AT ihsanulikhwan doesislamicsocialfinancepromotethequalityofhumanresources |