Main Article Content
Abstract
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.
Keywords
Article Details
Copyright (c) 2024 Siswantoro Siswantoro, Ihsanul Ikhwan
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References
- Akmal, I. B., Majid, M. S. A., & Gunawan, E. (2021). Does zakat matter for human development? An empirical evidence from Indonesia. Regional Science Inquiry, 12(2), 195–208. https://www.researchgate.net/profile/M-Shabri-Abd-Majid/publication/346927643_DOES_ZAKAT_MATTER_FOR_HUMAN_DEVELOPMENT_AN_EMPIRICAL_EVIDENCE_FROM_INDONESIA/links/5fd2533d299bf188d40af89c/DOES-ZAKAT-MATTER-FOR-HUMAN-DEVELOPMENT-AN-EMPIRICAL-EVIDENCE-FROM-INDONESIA.pdf
- Al-Haq, Ashraf, M., & Norazlina, A. (2017). Effective zakat distribution: Highlighting few issues and gaps in Kedah, Malaysia. Al-Iqtishad: Journal of Islamic Economics, 9(2), 259–288. https://doi.org/10.15408/aiq.v9i2.4002
- Amalia, R. Y., Fauziah, S., & Wahyuningsih, I. (2019). Pengaruh keuangan syariah terhadap pertumbuhan ekonomi dan indeks pembangunan manusia di Indonesia. Al-Muzara’ah, 7(1), 33–46. https://doi.org/doi.org/10.29244/jam.7.1.33-46
- Arisman, A. (2018). Determinant of human development index in ASEAN countries. Signifikan, 7(1), 113–122. https://doi.org/10.15408/sjie.v7i1.6756
- Asmalia, S., Kasri, R. A., & Ahsan, A. (2018). Exploring the potential of zakah for supporting realization of sustainable development goals (SDGs) in Indonesia. International Journal of Zakat, 3(4), 51–69. https://doi.org/10.37706/ijaz.v3i4.106
- Atmajaya, M., & Widiaty, E. (2021). Analisis foreign direct investment (FDI) dan ZIS terhadap human development index (HDI) di Indonesia tahun 2012-2019 dalam sudut pandang ekonomi Islam. Muslimpreneur: Jurnal Ekonomi dan Kajian Keislaman, 1(2), 49–81. https://ejournal.iainh.ac.id/index.php/muslimpreneur/article/view/93
- Badan Amil Zakat Nasional, B. (2022). Statistik zakat nasional 2020-2022. https://baznas.go.id/laporan-zakat-nasional
- Badan Pusat Statistik, B. (2022). [Metode baru] Indeks pembangunan manusia 2020-2022. https://www.bps.go.id/indicator/26/413/1/-metode-baru-indeks-pembangunan-manusia.html
- Badan Pusat Statistik, (2023). Indeks pembangunan manusia. https://www.bps.go.id/subject/26/indeks-pembangunan-manusia.html#subjekViewTab1.html
- Candra, D., Hamdi, B., Herianingrum, S., & Amaliyah, H. (2023). The effect of zakat distribution and the growth of the halal industry on the human development index and its impact on Indonesia’s unemployment rate. Jurnal Ilmiah Ekonomi Islam, 9(1), 598–608. https://doi.org/10.29040/jiei.v9i1.7928
- Fadillah, N., & Setiartiti, L. (2021). Analysis of factors affecting human development index in special regional of Yogyakarta. Journal of Economics Research and Social Sciences, 5(1), 88–104. https://doi.org/10.18196/jerss.v5i1.11036
- Hakim, A. R., Arif, S., & Baisa, H. (2018). Peran zakat dalam pembangunan pendidikan di Kota Bogor (Studi kasus pendayagunaan zakat bidang pendidikan dompet peduli ummat Daarut Tauhid Cabang Bogor). Al-Infaq: Jurnal Ekonomi Islam, 5(2), 243–272. https://doi.org/10.32507/ajei.v5i2.323
- Hassan, S., Amuda, Y. J., & Parveen, R. (2017). Persecuted muslim minority: Zakat, waqf, and sadaqah as financial instrument for human development. International Journal of Applied Business and Economic Research, 15(25), 475–484. https://www.researchgate.net/profile/Rehana-Parveen/publication/327526943_Persecuted_muslim_minority_Zakat_Waqf_and_Sadaqah_as_financial_Instrument_for_Human_Development/links/61c867f7b6b5667157a8479b/Persecuted-muslim-minority-Zakat-Waqf-and-Sadaqah-as-financial-Instrument-for-Human-Development.pdf
- Jouti, A. T. (2019). An integrated approach for building sustainable Islamic social finance ecosystems. ISRA International Journal of Islamic Finance, 11(2), 246–266. https://doi.org/10.1108/IJIF-10-2018-0118
- Karuni, M. S. (2020). Pengaruh dana zakat terhadap pembangunan manusia di Indonesia. Iqtishaduna: Jurnal Ilmiah Ekonomi Kita, 9(2), 184–185. https://doi.org/10.46367/iqtishaduna.v9i2.245
- Khasandy, E. A., & Badrudin, R. (2019). The influence of zakat on economic growth and welfare society in Indonesia. Munich Personal RePEc Archive (MPRA), 65–79. https://mpra.ub.uni-muenchen.de/91574/1/MPRA_paper_91574.pdf
- Lestari, D. (2023). Pengaruh penyaluran dana zakat, infak, sedekah, upah minimum provinsi dan kemiskinan terhadap indeks pembangunan manusia di Indonesia. Jurnal Ekonomi Syariah Darussalam, 4(2), 101–128. https://doi.org/10.30739/jesdar.v4i2.2471
- Mansha, M., Manzoor, A., Sarwar, K., & Hussain, S. U. (2022). Impacts of gender inequality on human development index in Asia: A panel data fixed effect regression. IRASD Journal of Economics, 4(4), 594–606. https://doi.org/10.52131/joe.2022.0404.0101
- Meydiasari, D. A., & Soejoto, A. (2017). Analisis pengaruh distribusi pendapatan, tingkat pengangguran, dan pengeluaran pemerintah sektor pendidikan terhadap IPM di Indonesia. JPEKA: Jurnal Pendidikan Ekonomi, Manajemen dan Keuangan, 1(2), 116–126. https://doi.org/10.26740/jpeka.v1n2.p116-126
- Murniati, R., & Beik, I. S. (2014). Pengaruh zakat terhadap indeks pembangunan manusia dan tingkat kemiskinan mustahik: Studi kasus pendayagunaan BAZNAS Kota Bogor. Al-Muzara’ah, 2(2), 135–149. https://doi.org/10.29244/jam.2.2.135-149
- Ningrum, J. W., Khairunnisa, A. H., & Huda, N. (2020). Pengaruh kemiskinan, tingkat pengangguran, pertumbuhan ekonomi dan pengeluaran pemerintah terhadap indeks pembangunan manusia (IPM) di Indonesia tahun 2014-2018 dalam perspektif Islam. Jurnal Ilmiah Ekonomi Islam, 6(2), 212–222. https://doi.org/10.29040/jiei.v6i2.1034
- Nurfilah, S., & Satiti, S. (2022). Dampak pandemi Covid 19 terhadap kualitas manusia Indonesia. Society, 13(1), 18–26. https://doi.org/10.20414/society.v13i1.5233
- Nurlinda, N., Zuhirysan, M., Salimi, F., Umar, Z., Mulyadi, M., & Farmiati, J. (2019). Accounting and management of zakat, infak/sedekah (Case studies of zakat institutions in Medan City). In Proceedings of 1st Workshop on Environmental Science, Society, and Technology, WESTECH 2018,. https://doi.org/10.4108/eai.8-12-2018.2283833
- Rosman, R., Redzuan, N. H., Mokhtar, N. Z. N., Ali, E. R. A. E., & Mohammed, M. O. (2022). Islamic social finance and Sustainable Development Goals: Issues and challenges. Journal of Islamic Finance, 11(2), 56–67. https://doi.org/10.1007/978-3-030-76016-8_11
- Sapurah, S., Gunartha, I. G. E., & Fitriyani, N. (2021). Panel data regression analysis of human development index in West Nusa Tenggara Province with fixed effect model. Eigen Mathematics Journal, 4(2), 60–67. https://doi.org/10.29303/emj.v4i2.114
- Siswantoro, S. (2022). Can the integration between Islamic social finance and Islamic commercial finance tackle poverty in Indonesia? Jurnal Ekonomi & Keuangan Islam, 8(2), 236–249. https://doi.org/10.20885/JEKI.vol8.iss2.art7
- Sulaeman, S., Majid, R., & Widiastuti, T. (2021). Zakat and its impact on socio-economic welfare before Covid-19 pandemic in Indonesia. International Journal of Zakat, 6(2), 75–90. https://doi.org/10.37706/ijaz.v6i2.301
- Tolkah, T. (2019). Zakat and empowerment: How the role of zakat in building the beneficiary’s welfare (mustahiq) in South Tangerang City. Italienisch, 9(2), 179–190. http://www.italienisch.nl/
- Wahyuningrum, F., & Soesilowati, E. (2021). The effect of economic growth, population and unemployment on HDI. Efficient: Indonesian Journal of Development Economics, 4(2), 1217–1229. https://doi.org/10.15294/efficient.v4i2.46325
- Wardani, I. I., & Al Arif, M. N. R. (2021). The effect of sharia bank financing, zakat, and education expense, on economic growth and human development index in Indonesia 2015-2019. Ekonomika Syariah: Journal of Economic Studies, 5(1), 1–10. https://doi.org/10.30983/es.v4i2.3716
- Wibowo, F. E., & Gunaepi, A. (2021). Pengaruh ZIS, kemiskinan, dan harapan lama sekolah terhadap indeks pembangunan manusia di Provinsi Jawa Barat. Jurnal Ilmiah Ilmu Administrasi, 11(1), 19 – 28. https://doi.org/10.33592/jiia.v11i1.1419
- Yulfitasari, E., & Bawono, A. (2021). The effect of zakat, poverty, unemployment, and per capita income on HDI through economic growth as intervening variables in Central Java period 2017-2020. In Annual International Conference on Islamic Economics and Business (AICIEB), 57–66. https://doi.org/10.18326/aicieb.v1i0.2
References
Akmal, I. B., Majid, M. S. A., & Gunawan, E. (2021). Does zakat matter for human development? An empirical evidence from Indonesia. Regional Science Inquiry, 12(2), 195–208. https://www.researchgate.net/profile/M-Shabri-Abd-Majid/publication/346927643_DOES_ZAKAT_MATTER_FOR_HUMAN_DEVELOPMENT_AN_EMPIRICAL_EVIDENCE_FROM_INDONESIA/links/5fd2533d299bf188d40af89c/DOES-ZAKAT-MATTER-FOR-HUMAN-DEVELOPMENT-AN-EMPIRICAL-EVIDENCE-FROM-INDONESIA.pdf
Al-Haq, Ashraf, M., & Norazlina, A. (2017). Effective zakat distribution: Highlighting few issues and gaps in Kedah, Malaysia. Al-Iqtishad: Journal of Islamic Economics, 9(2), 259–288. https://doi.org/10.15408/aiq.v9i2.4002
Amalia, R. Y., Fauziah, S., & Wahyuningsih, I. (2019). Pengaruh keuangan syariah terhadap pertumbuhan ekonomi dan indeks pembangunan manusia di Indonesia. Al-Muzara’ah, 7(1), 33–46. https://doi.org/doi.org/10.29244/jam.7.1.33-46
Arisman, A. (2018). Determinant of human development index in ASEAN countries. Signifikan, 7(1), 113–122. https://doi.org/10.15408/sjie.v7i1.6756
Asmalia, S., Kasri, R. A., & Ahsan, A. (2018). Exploring the potential of zakah for supporting realization of sustainable development goals (SDGs) in Indonesia. International Journal of Zakat, 3(4), 51–69. https://doi.org/10.37706/ijaz.v3i4.106
Atmajaya, M., & Widiaty, E. (2021). Analisis foreign direct investment (FDI) dan ZIS terhadap human development index (HDI) di Indonesia tahun 2012-2019 dalam sudut pandang ekonomi Islam. Muslimpreneur: Jurnal Ekonomi dan Kajian Keislaman, 1(2), 49–81. https://ejournal.iainh.ac.id/index.php/muslimpreneur/article/view/93
Badan Amil Zakat Nasional, B. (2022). Statistik zakat nasional 2020-2022. https://baznas.go.id/laporan-zakat-nasional
Badan Pusat Statistik, B. (2022). [Metode baru] Indeks pembangunan manusia 2020-2022. https://www.bps.go.id/indicator/26/413/1/-metode-baru-indeks-pembangunan-manusia.html
Badan Pusat Statistik, (2023). Indeks pembangunan manusia. https://www.bps.go.id/subject/26/indeks-pembangunan-manusia.html#subjekViewTab1.html
Candra, D., Hamdi, B., Herianingrum, S., & Amaliyah, H. (2023). The effect of zakat distribution and the growth of the halal industry on the human development index and its impact on Indonesia’s unemployment rate. Jurnal Ilmiah Ekonomi Islam, 9(1), 598–608. https://doi.org/10.29040/jiei.v9i1.7928
Fadillah, N., & Setiartiti, L. (2021). Analysis of factors affecting human development index in special regional of Yogyakarta. Journal of Economics Research and Social Sciences, 5(1), 88–104. https://doi.org/10.18196/jerss.v5i1.11036
Hakim, A. R., Arif, S., & Baisa, H. (2018). Peran zakat dalam pembangunan pendidikan di Kota Bogor (Studi kasus pendayagunaan zakat bidang pendidikan dompet peduli ummat Daarut Tauhid Cabang Bogor). Al-Infaq: Jurnal Ekonomi Islam, 5(2), 243–272. https://doi.org/10.32507/ajei.v5i2.323
Hassan, S., Amuda, Y. J., & Parveen, R. (2017). Persecuted muslim minority: Zakat, waqf, and sadaqah as financial instrument for human development. International Journal of Applied Business and Economic Research, 15(25), 475–484. https://www.researchgate.net/profile/Rehana-Parveen/publication/327526943_Persecuted_muslim_minority_Zakat_Waqf_and_Sadaqah_as_financial_Instrument_for_Human_Development/links/61c867f7b6b5667157a8479b/Persecuted-muslim-minority-Zakat-Waqf-and-Sadaqah-as-financial-Instrument-for-Human-Development.pdf
Jouti, A. T. (2019). An integrated approach for building sustainable Islamic social finance ecosystems. ISRA International Journal of Islamic Finance, 11(2), 246–266. https://doi.org/10.1108/IJIF-10-2018-0118
Karuni, M. S. (2020). Pengaruh dana zakat terhadap pembangunan manusia di Indonesia. Iqtishaduna: Jurnal Ilmiah Ekonomi Kita, 9(2), 184–185. https://doi.org/10.46367/iqtishaduna.v9i2.245
Khasandy, E. A., & Badrudin, R. (2019). The influence of zakat on economic growth and welfare society in Indonesia. Munich Personal RePEc Archive (MPRA), 65–79. https://mpra.ub.uni-muenchen.de/91574/1/MPRA_paper_91574.pdf
Lestari, D. (2023). Pengaruh penyaluran dana zakat, infak, sedekah, upah minimum provinsi dan kemiskinan terhadap indeks pembangunan manusia di Indonesia. Jurnal Ekonomi Syariah Darussalam, 4(2), 101–128. https://doi.org/10.30739/jesdar.v4i2.2471
Mansha, M., Manzoor, A., Sarwar, K., & Hussain, S. U. (2022). Impacts of gender inequality on human development index in Asia: A panel data fixed effect regression. IRASD Journal of Economics, 4(4), 594–606. https://doi.org/10.52131/joe.2022.0404.0101
Meydiasari, D. A., & Soejoto, A. (2017). Analisis pengaruh distribusi pendapatan, tingkat pengangguran, dan pengeluaran pemerintah sektor pendidikan terhadap IPM di Indonesia. JPEKA: Jurnal Pendidikan Ekonomi, Manajemen dan Keuangan, 1(2), 116–126. https://doi.org/10.26740/jpeka.v1n2.p116-126
Murniati, R., & Beik, I. S. (2014). Pengaruh zakat terhadap indeks pembangunan manusia dan tingkat kemiskinan mustahik: Studi kasus pendayagunaan BAZNAS Kota Bogor. Al-Muzara’ah, 2(2), 135–149. https://doi.org/10.29244/jam.2.2.135-149
Ningrum, J. W., Khairunnisa, A. H., & Huda, N. (2020). Pengaruh kemiskinan, tingkat pengangguran, pertumbuhan ekonomi dan pengeluaran pemerintah terhadap indeks pembangunan manusia (IPM) di Indonesia tahun 2014-2018 dalam perspektif Islam. Jurnal Ilmiah Ekonomi Islam, 6(2), 212–222. https://doi.org/10.29040/jiei.v6i2.1034
Nurfilah, S., & Satiti, S. (2022). Dampak pandemi Covid 19 terhadap kualitas manusia Indonesia. Society, 13(1), 18–26. https://doi.org/10.20414/society.v13i1.5233
Nurlinda, N., Zuhirysan, M., Salimi, F., Umar, Z., Mulyadi, M., & Farmiati, J. (2019). Accounting and management of zakat, infak/sedekah (Case studies of zakat institutions in Medan City). In Proceedings of 1st Workshop on Environmental Science, Society, and Technology, WESTECH 2018,. https://doi.org/10.4108/eai.8-12-2018.2283833
Rosman, R., Redzuan, N. H., Mokhtar, N. Z. N., Ali, E. R. A. E., & Mohammed, M. O. (2022). Islamic social finance and Sustainable Development Goals: Issues and challenges. Journal of Islamic Finance, 11(2), 56–67. https://doi.org/10.1007/978-3-030-76016-8_11
Sapurah, S., Gunartha, I. G. E., & Fitriyani, N. (2021). Panel data regression analysis of human development index in West Nusa Tenggara Province with fixed effect model. Eigen Mathematics Journal, 4(2), 60–67. https://doi.org/10.29303/emj.v4i2.114
Siswantoro, S. (2022). Can the integration between Islamic social finance and Islamic commercial finance tackle poverty in Indonesia? Jurnal Ekonomi & Keuangan Islam, 8(2), 236–249. https://doi.org/10.20885/JEKI.vol8.iss2.art7
Sulaeman, S., Majid, R., & Widiastuti, T. (2021). Zakat and its impact on socio-economic welfare before Covid-19 pandemic in Indonesia. International Journal of Zakat, 6(2), 75–90. https://doi.org/10.37706/ijaz.v6i2.301
Tolkah, T. (2019). Zakat and empowerment: How the role of zakat in building the beneficiary’s welfare (mustahiq) in South Tangerang City. Italienisch, 9(2), 179–190. http://www.italienisch.nl/
Wahyuningrum, F., & Soesilowati, E. (2021). The effect of economic growth, population and unemployment on HDI. Efficient: Indonesian Journal of Development Economics, 4(2), 1217–1229. https://doi.org/10.15294/efficient.v4i2.46325
Wardani, I. I., & Al Arif, M. N. R. (2021). The effect of sharia bank financing, zakat, and education expense, on economic growth and human development index in Indonesia 2015-2019. Ekonomika Syariah: Journal of Economic Studies, 5(1), 1–10. https://doi.org/10.30983/es.v4i2.3716
Wibowo, F. E., & Gunaepi, A. (2021). Pengaruh ZIS, kemiskinan, dan harapan lama sekolah terhadap indeks pembangunan manusia di Provinsi Jawa Barat. Jurnal Ilmiah Ilmu Administrasi, 11(1), 19 – 28. https://doi.org/10.33592/jiia.v11i1.1419
Yulfitasari, E., & Bawono, A. (2021). The effect of zakat, poverty, unemployment, and per capita income on HDI through economic growth as intervening variables in Central Java period 2017-2020. In Annual International Conference on Islamic Economics and Business (AICIEB), 57–66. https://doi.org/10.18326/aicieb.v1i0.2