MATHEMATICAL MODELING ON ISLAMIC ECONOMICS AND FINANCE: A SCIENTOMETRIC

Abstract

This study aims to determine the development map of mathematic model in islamic economics and finance research that is indexed by Dimensions with the keyword "Mathematical in Islamic economics finance". The data analyzed were 76 selected publications. The development map of mathematic model in islamic economics and finance research analyzed using the Biblioshiny-R and VOSviewer application program to find out the bibliometric map. The results showed that the number of publications on the development of mathematic model in islamic economics and finance research from 1980-2020 experienced a significant increase and the highest impact were published in International Journal of Islamic and Middle Eastern Finance and Management. Network visualization showed that the map of the development of mathematic model in islamic economics and finance research was divided into 3 clusters. The majority of research is related to modeling of Profit Loss Sharing (PLS) schemes. Islamic bank financing is still an interesting trend topic in recent research. However, despite the development of using mathematical model in those researches, the approach tends to be adaptive (inductive) from conventional models that already exist. A challenge to review the mainstream model need to be further critically reviewed.

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