{"id":"https://openalex.org/W7204783441","doi":"https://doi.org/10.13135/2421-2172/13397","title":"Islamic Insurance and Human Development: Panel Data Analysis with Application of Robust Random Effect Model","display_name":"Islamic Insurance and Human Development: Panel Data Analysis with Application of Robust Random Effect Model","publication_year":2026,"publication_date":"2026-02-21","ids":{"openalex":"https://openalex.org/W7204783441","doi":"https://doi.org/10.13135/2421-2172/13397"},"language":"en","primary_location":{"id":"pmh:oai:ojs.unito.it:article/13397","doi":null,"is_oa":true,"landing_page_url":"https://ojs.unito.it/index.php/EJIF/article/view/13397","pdf_url":"https://ojs.unito.it/index.php/EJIF/article/download/13397/11128","source":{"id":"https://openalex.org/S4306510130","display_name":"European journal of Islamic finance","issn_l":"2421-2172","issn":["2421-2172"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["anvur-class-a","anvur-scientific","ddh","doaj","erih-plus","jufo-1","norway-1"],"host_organization":"https://openalex.org/P4310317602","host_organization_name":"University of Turin","host_organization_lineage":["https://openalex.org/P4310317602"],"host_organization_lineage_names":["University of Turin"],"type":"journal"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"2421-2172","raw_type":"info:eu-repo/semantics/article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["datacite","doaj"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://ojs.unito.it/index.php/EJIF/article/download/13397/11128","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5013582366","display_name":"Humayun Humta","orcid":"https://orcid.org/0000-0002-2921-6265","observed_orcids":["https://orcid.org/0000-0002-2921-6265"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Humta, Humayun","raw_affiliation_strings":["Business Administration; Accounting and Finance"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Business Administration; Accounting and Finance","institution_ids":[]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5015103226","display_name":"Hamayoun Ghafourzay","orcid":"https://orcid.org/0000-0001-8156-9407","observed_orcids":["https://orcid.org/0000-0001-8156-9407"]},"institutions":[{"id":"https://openalex.org/I19231517","display_name":"Kabul University","ror":"https://ror.org/02ht5pq60","country_code":"AF","type":"education","lineage":["https://openalex.org/I19231517"]}],"countries":["AF"],"is_corresponding":false,"raw_author_name":"Ghafourzay, Hamayoun","raw_affiliation_strings":["Kabul University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Kabul University","institution_ids":["https://openalex.org/I19231517"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5046032953","display_name":"\u0130brahim Erem \u015eahin","orcid":"https://orcid.org/0000-0002-0442-8499","observed_orcids":["https://orcid.org/0000-0002-0442-8499"]},"institutions":[{"id":"https://openalex.org/I137996928","display_name":"Sel\u00e7uk University","ror":"https://ror.org/045hgzm75","country_code":"TR","type":"education","lineage":["https://openalex.org/I137996928"]}],"countries":["TR"],"is_corresponding":false,"raw_author_name":"\u015eahin, \u0130brahim Erem","raw_affiliation_strings":["Sel\u00e7uk University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Sel\u00e7uk University","institution_ids":["https://openalex.org/I137996928"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":{"value":0.0,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11365","display_name":"Islamic Finance and Banking Studies","score":0.9976000189781189,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11365","display_name":"Islamic Finance and Banking Studies","score":0.9976000189781189,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13456","display_name":"Religion, Society, and Development","score":0.0006000000284984708,"subfield":{"id":"https://openalex.org/subfields/3312","display_name":"Sociology and Political Science"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13867","display_name":"Economic Growth and Development","score":0.00039999998989515007,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/takaful","display_name":"Islamic insurance","score":0.9639999866485596},{"id":"https://openalex.org/keywords/personal-development","display_name":"human development","score":0.9779999852180481},{"id":"https://openalex.org/keywords/human-development-index","display_name":"Human Development Index","score":0.9990000128746033},{"id":"https://openalex.org/keywords/islamic-finance","display_name":"Islamic finance","score":0.8519999980926514},{"id":"https://openalex.org/keywords/sukuk","display_name":"sukuk","score":0.6869999766349792},{"id":"https://openalex.org/keywords/foreign-direct-investment","display_name":"foreign direct investment","score":0.9779999852180481},{"id":"https://openalex.org/keywords/government-effectiveness","display_name":"government effectiveness","score":0.7699999809265137},{"id":"https://openalex.org/keywords/political-stability","display_name":"political stability","score":0.9929999709129333},{"id":"https://openalex.org/keywords/islamic-banking","display_name":"Islamic banking","score":0.6430000066757202},{"id":"https://openalex.org/keywords/institutional-quality","display_name":"institutional quality","score":0.8059999942779541},{"id":"https://openalex.org/keywords/organization-of-islamic-cooperation","display_name":"Organization of Islamic Cooperation","score":0.8500000238418579}],"concepts":[{"id":"https://openalex.org/C6422946","wikidata":"https://www.wikidata.org/wiki/Q857354","display_name":"Panel data","level":2,"score":0.7028999924659729},{"id":"https://openalex.org/C2779735493","wikidata":"https://www.wikidata.org/wiki/Q38994","display_name":"Human Development Index","level":3,"score":0.6506999731063843},{"id":"https://openalex.org/C4445939","wikidata":"https://www.wikidata.org/wiki/Q432","display_name":"Islam","level":2,"score":0.637499988079071},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.536300003528595},{"id":"https://openalex.org/C2781089502","wikidata":"https://www.wikidata.org/wiki/Q2917873","display_name":"Human development (humanity)","level":2,"score":0.5317000150680542},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.4514999985694885},{"id":"https://openalex.org/C2777382242","wikidata":"https://www.wikidata.org/wiki/Q6017816","display_name":"Index (typography)","level":2,"score":0.4350999891757965},{"id":"https://openalex.org/C189326681","wikidata":"https://www.wikidata.org/wiki/Q10294","display_name":"Poverty","level":2,"score":0.42559999227523804},{"id":"https://openalex.org/C2778137410","wikidata":"https://www.wikidata.org/wiki/Q2732820","display_name":"Government (linguistics)","level":2,"score":0.42480000853538513},{"id":"https://openalex.org/C2776943663","wikidata":"https://www.wikidata.org/wiki/Q165687","display_name":"Human capital","level":2,"score":0.41269999742507935},{"id":"https://openalex.org/C2779530757","wikidata":"https://www.wikidata.org/wiki/Q1207505","display_name":"Quality (philosophy)","level":2,"score":0.3986000120639801},{"id":"https://openalex.org/C100243477","wikidata":"https://www.wikidata.org/wiki/Q12002092","display_name":"Welfare","level":2,"score":0.39469999074935913},{"id":"https://openalex.org/C129361004","wikidata":"https://www.wikidata.org/wiki/Q2470236","display_name":"Profitability index","level":2,"score":0.3788999915122986},{"id":"https://openalex.org/C168743327","wikidata":"https://www.wikidata.org/wiki/Q1826427","display_name":"Random effects model","level":3,"score":0.3569999933242798},{"id":"https://openalex.org/C33842695","wikidata":"https://www.wikidata.org/wiki/Q490513","display_name":"Foreign direct investment","level":2,"score":0.35019999742507935},{"id":"https://openalex.org/C96250715","wikidata":"https://www.wikidata.org/wiki/Q965330","display_name":"Estimation","level":2,"score":0.3312999904155731},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.3172000050544739},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.29269999265670776},{"id":"https://openalex.org/C100001284","wikidata":"https://www.wikidata.org/wiki/Q2248246","display_name":"Public economics","level":1,"score":0.29190000891685486},{"id":"https://openalex.org/C3020299011","wikidata":"https://www.wikidata.org/wiki/Q626608","display_name":"Life insurance","level":2,"score":0.28450000286102295},{"id":"https://openalex.org/C44970651","wikidata":"https://www.wikidata.org/wiki/Q17014030","display_name":"Fixed effects model","level":3,"score":0.28439998626708984},{"id":"https://openalex.org/C83864248","wikidata":"https://www.wikidata.org/wiki/Q177323","display_name":"Developing country","level":2,"score":0.27300000190734863},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.26980000734329224},{"id":"https://openalex.org/C2983848023","wikidata":"https://www.wikidata.org/wiki/Q733553","display_name":"Transmission channel","level":3,"score":0.2680000066757202},{"id":"https://openalex.org/C179420905","wikidata":"https://www.wikidata.org/wiki/Q223871","display_name":"Mediation","level":2,"score":0.26570001244544983},{"id":"https://openalex.org/C31462909","wikidata":"https://www.wikidata.org/wiki/Q1045782","display_name":"Scatter plot","level":2,"score":0.25540000200271606},{"id":"https://openalex.org/C162748667","wikidata":"https://www.wikidata.org/wiki/Q683131","display_name":"Generalized method of moments","level":3,"score":0.2533999979496002}],"mesh":[],"locations_count":3,"locations":[{"id":"pmh:oai:ojs.unito.it:article/13397","doi":null,"is_oa":true,"landing_page_url":"https://ojs.unito.it/index.php/EJIF/article/view/13397","pdf_url":"https://ojs.unito.it/index.php/EJIF/article/download/13397/11128","source":{"id":"https://openalex.org/S4306510130","display_name":"European journal of Islamic finance","issn_l":"2421-2172","issn":["2421-2172"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["anvur-class-a","anvur-scientific","ddh","doaj","erih-plus","jufo-1","norway-1"],"host_organization":"https://openalex.org/P4310317602","host_organization_name":"University of Turin","host_organization_lineage":["https://openalex.org/P4310317602"],"host_organization_lineage_names":["University of Turin"],"type":"journal"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"2421-2172","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:oai:doaj.org/article:06ee3bc8513b412c86e5005a098a8549","doi":null,"is_oa":false,"landing_page_url":"https://doaj.org/article/06ee3bc8513b412c86e5005a098a8549","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"European Journal of Islamic Finance, Vol 13, Iss 2 (2026)","raw_type":"article"},{"id":"doi:10.13135/2421-2172/13397","doi":"https://doi.org/10.13135/2421-2172/13397","is_oa":true,"landing_page_url":"https://doi.org/10.13135/2421-2172/13397","pdf_url":null,"source":{"id":"https://openalex.org/S4306400637","display_name":"Institutional Research Information System University of Turin (University of Turin)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I55143463","host_organization_name":"University of Turin","host_organization_lineage":["https://openalex.org/I55143463"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"JournalArticle"}],"best_oa_location":{"id":"pmh:oai:ojs.unito.it:article/13397","doi":null,"is_oa":true,"landing_page_url":"https://ojs.unito.it/index.php/EJIF/article/view/13397","pdf_url":"https://ojs.unito.it/index.php/EJIF/article/download/13397/11128","source":{"id":"https://openalex.org/S4306510130","display_name":"European journal of Islamic finance","issn_l":"2421-2172","issn":["2421-2172"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["anvur-class-a","anvur-scientific","ddh","doaj","erih-plus","jufo-1","norway-1"],"host_organization":"https://openalex.org/P4310317602","host_organization_name":"University of Turin","host_organization_lineage":["https://openalex.org/P4310317602"],"host_organization_lineage_names":["University of Turin"],"type":"journal"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"2421-2172","raw_type":"info:eu-repo/semantics/article"},"sustainable_development_goals":[{"display_name":"Decent work and economic growth","score":0.5149000287055969,"id":"https://metadata.un.org/sdg/8"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W7204783441.pdf","grobid_xml":"https://content.openalex.org/works/W7204783441.grobid-xml"},"referenced_works_count":13,"referenced_works":["https://openalex.org/W1527195132","https://openalex.org/W1580107285","https://openalex.org/W1978598841","https://openalex.org/W2116714002","https://openalex.org/W2151648574","https://openalex.org/W2185959590","https://openalex.org/W2268691987","https://openalex.org/W2942568713","https://openalex.org/W2950873104","https://openalex.org/W3015661206","https://openalex.org/W3122378130","https://openalex.org/W4298413470","https://openalex.org/W4391784946"],"related_works":["https://openalex.org/W7046928739","https://openalex.org/W4412698453","https://openalex.org/W4405802811","https://openalex.org/W7216681031","https://openalex.org/W4413761178","https://openalex.org/W7117121114","https://openalex.org/W4413025531","https://openalex.org/W7162394341","https://openalex.org/W4412627481","https://openalex.org/W7221618382"],"abstract_inverted_index":{"This":[0],"study":[1,74,195],"investigates":[2],"the":[3,13,18,25,33,46,52,60,131,144,156,197,200,208,219,237],"relationship":[4,47,80,114,132,145],"between":[5,48,62,81,133,146,246],"Islamic":[6,21,67,160,203,247],"insurance":[7],"(Takaful)":[8],"and":[9,42,51,65,78,83,89,120,135,149,218,232,242,249],"human":[10,250],"development":[11,50,148],"within":[12,70],"selected":[14],"member":[15],"countries":[16],"of":[17,20,159,202,210,221,239],"Organization":[19],"Cooperation":[22],"(OIC)":[23],"over":[24,102],"period":[26],"2015\u20132021,":[27],"which":[28,212,223],"includes":[29],"T\u00fcrkiye,":[30],"Kuwait,":[31],"Qatar,":[32],"United":[34],"Arab":[35],"Emirates,":[36],"Oman,":[37],"Malaysia,":[38],"Indonesia,":[39],"Saudi":[40],"Arabia,":[41],"Nigeria.":[43],"It":[44],"questions":[45],"Takaful":[49,82],"Human":[53,96],"Development":[54,97],"Index":[55,98,105],"(HDI),":[56],"as":[57,59],"well":[58],"interaction":[61],"institutional":[63,240],"factors":[64],"other":[66],"financial":[68],"instruments":[69],"this":[71,163],"relationship.":[72],"The":[73,95,126,194],"finds":[75],"a":[76,90,174,188,214,225],"positive":[77,138],"significant":[79,190],"HDI,":[84,222],"based":[85],"on":[86,236],"panel":[87],"data":[88],"robust":[91],"random-effects":[92],"estimation":[93],"approach.":[94],"(HDI)":[99],"was":[100],"chosen":[101],"Multidimensional":[103],"Poverty":[104],"(MPI)":[106],"due":[107],"to":[108,152,155],"its":[109,112,121],"annual":[110],"availability,":[111],"close":[113],"with":[115,182,192],"parameters":[116],"influenced":[117],"by":[118,141,206],"Takaful,":[119,211],"suitability":[122],"for":[123],"cross-country":[124],"comparisons.":[125],"results":[127],"further":[128],"show":[129],"that":[130],"FDI":[134,180],"HDI":[136,150],"is":[137,166,213,224],"when":[139],"moderated":[140],"government":[142],"effectiveness;":[143],"Sukuk":[147],"appears":[151],"run":[153],"parallel":[154],"profitability":[157],"indicators":[158],"banks.":[161],"However,":[162],"potential":[164,243],"channel":[165],"inferred":[167],"from":[168],"separate":[169],"model":[170],"estimations":[171],"rather":[172],"than":[173],"formal":[175],"mediation":[176],"framework.":[177],"In":[178],"contrast,":[179],"interacted":[181],"political":[183],"stability":[184],"does":[185],"not":[186],"exhibit":[187],"statistically":[189],"association":[191],"HDI.":[193],"fills":[196],"gap":[198],"in":[199],"body":[201],"finance-development":[204],"literature":[205],"introducing":[207],"concept":[209,220],"relatively":[215],"under-researched":[216],"area,":[217],"comprehensive":[226],"welfare":[227],"measure":[228],"beyond":[229],"economic":[230],"growth":[231],"also":[233],"offers":[234],"evidence":[235],"role":[238],"quality":[241],"transmission":[244],"mechanisms":[245],"finance":[248],"development.":[251]},"counts_by_year":[],"updated_date":"2026-11-13T13:42:25.865203","created_date":"2026-09-01T00:00:00"}
