ABSTRACT
The economies of the Middle East and North Africa (MENA) are closely tied to Islam, which spread throughout the region in the first two centuries after the death of the Prophet Mohammad in 632. Muslim rule spread throughout MENA and by the early eighth century had reached westward to encompass most of present-day Spain. During this time, the region developed economic institutions that differed from Europe’s. These institutions were based in part on the Qur’an and early writings about Muhammad, and in part on the economy and how it evolved. Islam was successful in spreading quickly throughout MENA and parts of Europe. Evidently Islam had a persuasive message for people in the region, and the economic and government institutions that it created were well-suited for the region at that time. For many centuries, MENA was scientifically and economically at least as advanced as Western Europe. However, it failed to either keep up with the agricultural revolution in Europe or with later industrialization. At least part of the reason for this failure to advance has been sought in terms of explaining the slowness with which MENA’s economic and social institutions adjusted to changing economic needs.
