This paper addresses a myth, which exists on the difference between western and Islamic institutions, by giving empirical evidence on the relationship between religious affiliation and the inflow of foreign direct investment (FDI). The influence of Muslim brotherhoods on the inflow of FDI in Senegal is being tested with a cross-country study, an over-time comparison and an in depth analysis based on literature and field-research. Findings show that Muslim brotherhoods, perceived as Islamic institutions, do have an influence on the economic and political affairs in the Senegalese society. However results from both the cross-country study and the country-specific research do not support the notion that Muslim brotherhoods form a significant impediment to FDI. Other factors than religious affiliation must be more important in explaining the low FDI-inflows in Senegal.

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Nicholas, Howard
hdl.handle.net/2105/7161
International Political Economy and Development (IPED)
International Institute of Social Studies

Jansen, Marenne Mei. (2008, January). Muslim Brotherhoods: an impediment to Investment? Dismantling a myth. International Political Economy and Development (IPED). Retrieved from http://hdl.handle.net/2105/7161