ECONOMIC GROWTH AND FALAH

Nuradli Ridzwan Shah Mohd Dali, Hanifah Abdul Hamid, Mohd Zohdi Mohd Amin

Abstract


Economic growth is important in determining the overall economic condition of a country.  The objective of this paper is to identify if the Islamization of the conventional growth theory can be applied towards the theory of Islamic economic growth. The findings revealed that the application of the existing growth model might not be appropriate in measuring growth according to the Islamic goals of growth. Therefore, the introduction of a unique measurement of economic growth according to Islamic perspective is warranted. This is because an attempt to introduce a comprehensive growth model in attaining falah maximization for OIC countries according to the Islamic perspectives using the conventional growth theory is unsuccessful.


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ISSN : 2251-1555