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…
Hicham El Moussaoui, Ph.D Trust is the lubricant of trade. It reduces the costs of transactions and uncertainty, which allows it to provide a dual mission : the incentive for individuals to participate in the exchange and coordination of their individual plans. Therefore, without trust no exchange and without exchange no market economy. Adam Smith…
By Hicham El Moussaoui Several studies show the strong positive correlation between market economy and development. Unfortunately, in Muslim countries have no real free market economies. And often when we analyze the causes of economic stagnation in Muslim countries, we sustain the incompatibility of the slam with the market economy. This supposed incompatibility is designed as…