A MAQASID-BASED WELFARE INDEX IN INDONESIA:AN EMPIRICAL INVESTIGATION

Muhammad Sri Wahyudi Suliswanto (), Mohd. Mahyudi () and Mohd. Nizam Barom ()
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Muhammad Sri Wahyudi Suliswanto: Universitas Muhammadiyah Malang, Indonesia
Mohd. Mahyudi: University Malaysia, Malaysia
Mohd. Nizam Barom: University Malaysia, Malaysia

Journal of Islamic Monetary Economics and Finance, 2025, vol. 11, issue 1, 119-146

Abstract: Acknowledging the importance of having an alternative welfare measurement to the prevailing material-based conventional welfare index, this study formulates a maqasid-based welfare index that encapsulates the material, spiritual, and social needs of individuals and then calculates the index for all regions in Indonesia. Our proposed index is based on a comprehensive set of maqasid indicators and on appropriate weighting of each maqasid indicator to arrive at the index scores for all regions in the country. From the results, four provinces in Indonesia are at the high level of Maqasid-based welfare. They are Aceh, Nusa Tenggara Barat, Gorontalo, and Sulawesi Barat. Meanwhile, twenty-five provinces are at the medium range of welfare. The index we compute for each region should prove useful as it would allow policymakers to tailor welfare strategies to each province’s strong and weak areas of the maqasid al-shariah.

Keywords: Maqasid-based welfare; Welfare measurement; Welfare index (search for similar items in EconPapers)
JEL-codes: I30 I31 I32 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:idn:jimfjn:v:11:y:2025:i:1f:p:119-146

DOI: 10.21098/jimf.v11i1.2098

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