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| DC Field | Value | Language |
|---|---|---|
| dc.contributor.advisor | Mohd Azlan Shah Zaidi, Assoc. Prof. Dr. | - |
| dc.contributor.author | Tubagus Thresna Irijanto (P58114) | - |
| dc.date.accessioned | 2023-10-10T09:05:41Z | - |
| dc.date.available | 2023-10-10T09:05:41Z | - |
| dc.date.issued | 2019-08-24 | - |
| dc.identifier.other | ukmvital:120669 | - |
| dc.identifier.uri | https://ptsldigital.ukm.my/jspui/handle/123456789/485749 | - |
| dc.description | Existing studies in economic growth from Islamic perspective might still have influence from conventional philosophy or theoretical underpinning especially from Keynesian economics. While it does help extent the knowledge and the discipline, it might not cover all the Islamic values as prescribed by the maqasid Al-syariah. On the other hand, economic ideas and thoughts of classical Muslim scholars, namely Al Ghazali, Ibn Taymiyyah and Ibnu Khaldun are in line with the maqasid Al-syariah. Unfortunately, their ideas and thoughts are partial and thematic and not within the framework of macro-economic analysis and economic growth model. This study tries to identify and investigate these classical Muslim scholars’ economic growth thoughts and construct a model of economic growth within Islamic value framework via the production side using system thinking and system dynamics method. To strengthen the model, the economic growth thoughts from earlier source, namely during the second righteous Caliph Umar ibn Khathab period, which are believed to reflect better and perfect implementation of Islamic values, are taken into consideration in the model formulation. Both methodologies (system thinking and system dynamics) are expected to portray system structure and behavior of Islamic economic growth model. It is constructed by taking into account four sub models from production side which comprises labor sector, capital sector, productivity sector and price sector. The results show that the Islamic economic growth model is capable of explaining dynamic behavior of selected variables in affecting economic growth. Each sub-model has been successfully constructed according to Islamic principles and economic growth theory. The constructed model also exhibits stable dynamic behavior when tested under extreme conditions. Findings from simulations manage to explain the dynamic behavior of variables that are significant in influencing economic growth. In the labor sector case, net hiring adjustment time, time to adjust wages to unemployment rate, and elasticity of wages to unemployment rate are significant to alter dynamic behaviour of the labor sector model and eventually the economic growth. In the capital sector case, variations in average life of capital, capital adjustment time, and capital delivery time are significant to affect the growth model. In the meantime, via the productivity sector, overtime index seems to affect dynamic process in the productivity sector and the main growth model. The overtime index is placed in the productivity sector as it relates to the issue of labor stock management during early periods of recession and expansion--an issue that manifests itself in productivity data during those periods. In the meanwhile, in the price sector model, variation in price adjustment time has a significant effect on behavior of the sub model and the main model. Moreover, when the full model is running, price plays a key role in several feedback loops, and variations in price adjustment time have both amplification and oscillatory impacts on behavior of the full model. In conclusion, through the production side, the resulting behaviors of the overall model could be a guideline for a country that intends to integrate economic growth model with the Islamic principles.,Certification of Masters/Doctoral Thesis” is not available,Ph.D. | - |
| dc.language.iso | eng | - |
| dc.publisher | UKM, Bangi | - |
| dc.relation | Faculty of Economy and Management / Fakulti Ekonomi dan Pengurusan | - |
| dc.rights | UKM | - |
| dc.subject | Economic development -- Religious aspects -- Islam | - |
| dc.subject | Universiti Kebangsaan Malaysia -- Dissertations | - |
| dc.subject | Dissertations, Academic -- Malaysia | - |
| dc.title | The model of Islamic economic growth using system dynamics | - |
| dc.type | Theses | - |
| dc.format.pages | 212 | - |
| dc.identifier.callno | BP173.75.I758 2019 tesis | - |
| dc.identifier.barcode | 004781(2019) | - |
| Appears in Collections: | Faculty of Economy and Management / Fakulti Ekonomi dan Pengurusan | |
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| File | Description | Size | Format | |
|---|---|---|---|---|
| ukmvital_120669+SOURCE1+SOURCE1.2.PDF Restricted Access | 1.05 MB | Adobe PDF |  View/Open |
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