Macro and Micro-level Indicators of Maqāṣid al- Sharī‘ah in Socio-Economic Development Policy and its Governing Framework

Hazik Mohamed ()
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Hazik Mohamed: Stellar Consulting Group

Islamic Economic Studies, 2018, vol. 25-3, 19-44

Abstract: This paper sets macro-level and micro-level operational indicators for socioeconomic development through a Maqāṣid al- Sharī‘ah framework. It also sets forth six broad recommendations and nine specific initiatives within a fourdimensional framework for institutional governance, particularly for socioeconomic development policy. A lattice of multidimensional indicators and multipronged initiatives are proposed to address the multifaceted dimensions of institutional governance and the various transmission channels that influence socio-economic policy. While empirical studies have demonstrated the importance of institutions and ethics in socio-economic development, the pressing issue remains how deep Maqāṣid al- Sharī‘ah understanding in human decision-making can be developed to influence behaviors that are efficient, inclusive, moral, and trustworthy that leads to peace, prosperity and progress. This paper attempts to address this concern

Keywords: Applied governance; operational indicators; performance measures (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ris:isecst:0169

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