IDEAS home Printed from https://ideas.repec.org/p/sek/iacpro/9010770.html
   My bibliography  Save this paper

New Islamic Economic Index

Author

Listed:
  • REEM ALQADIRI

    (Gulf University of Science and Technology)

  • MANAL ALMUSFER

    (Gulf University of Science and Technology)

  • Khaled AlMawazini

    (Gulf University for Science and Technology)

Abstract

The Islamic economic index developed by Rehman and Askari (2010) has many limitations. This paper proposes new Islamic economic index and overcomes the limitations of Rehman and Askari (2010). Our proposed index IFI index is constructed by using principal component analysis (PCA). The PCA allows us to reduce the correlated observed variables to a smaller set of independent composite variables. Our proposed index has three main areas, namely, economic opportunities, economic freedom and social infrastructure. Our main result surprisingly shows that the first 15 countries out of a total of 132 countries are not part of the organization of Islamic cooperation, where Finland topped up the first place in the application of indicators of the Islamic economy for 2016.

Suggested Citation

  • REEM ALQADIRI & MANAL ALMUSFER & Khaled AlMawazini, 2019. "New Islamic Economic Index," Proceedings of International Academic Conferences 9010770, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iacpro:9010770
    as

    Download full text from publisher

    File URL: https://iises.net/proceedings/iises-international-academic-conference-london/table-of-content/detail?cid=90&iid=003&rid=10770
    File Function: First version, 2019
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sek:iacpro:9010770. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Klara Cermakova (email available below). General contact details of provider: https://iises.net/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.