By Hicham El Moussaoui
In this paper, we will use the institutional approach to explain the level of entrepreneurship in Muslim countries. Indeed, the decision to undertake depends on the rules of the game (formal and informal institutions) that frame the entrepreneurial act. We will show that if in the first periods of Islam have flourished entrepreneurship in all its forms, the decline came following the deterioration of the quality of institutions governing Entrepreneurship (rule of law, financing, property rights, innovation, etc.). That is, if the positive spirit of Islam remained favourable to entrepreneurship, at least in the original texts, the practice of entrepreneurship has been discouraged in the field because of the inadequacy of the institutions.
Hicham El Moussaoui is an Assistant Professor of economics at Sultan Moulay Slimane University (Morocco), and Editor of www.libreafrique.org, Francophone project of ATLAS Foundation for Economic Research.