Meta-analysis of the impact of Islamic economic system on economic growth

Abstract

This study investigates the impact of the Islamic economic system on economic growth through a meta-analysis approach grounded in Qur’anic values. By synthesizing data from 96 studies published between 2015 and 2025, the research evaluates the efficacy of key Islamic economic instruments—zakat, mudharabah, and sukuk—in promoting sustainable development. Employing a Random-Effects Model, the average effect size was found to be 0.796 with a confidence interval ranging from 0.722 to 0.870, indicating a strong positive influence. The heterogeneity analysis revealed a high degree of variability (I² = 98.11%), influenced by factors such as policy frameworks, financial infrastructure, and public literacy. Tests for publication bias using Kendall’s Tau and Egger’s Regression detected minimal bias, confirming the robustness of the findings. The study concludes that while the Islamic economic system significantly contributes to inclusive and sustainable growth, its effectiveness hinges on regulatory coherence and improved literacy. Recommendations include enhancing Islamic financial frameworks and increasing public awareness to harness the system’s full potential.

Keywords: Islamic economic system; economic growth; zakat; sukuk; Qur’anic values