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A paper economy of faith without faith in paper: A reflection on Islamic institutional history

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  • Lydon, Ghislaine

Abstract

This article contributes to the literature on Islamic institutional history by examining how the discounting of documents in Islamic legal practice constrained the organization of early modern Muslim trade. It is argued that the reliance on literacy, on the one hand, and an Islamic legal framework, on the other, gave early modern Muslim traders a comparative advantage in economic organization, but the lack of faith in paper as documentary evidence in Islamic law posed fundamental constraints to the development of Muslim economies.

Suggested Citation

  • Lydon, Ghislaine, 2009. "A paper economy of faith without faith in paper: A reflection on Islamic institutional history," Journal of Economic Behavior & Organization, Elsevier, vol. 71(3), pages 647-659, September.
    • Handle: RePEc:eee:jeborg:v:71:y:2009:i:3:p:647-659
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    References listed on IDEAS

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    1. Maristella Botticini & Zvi Eckstein, 2006. "Path Dependence and Occupations," Boston University - Department of Economics - The Institute for Economic Development Working Papers Series DP-154, Boston University - Department of Economics.
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    9. Timur Kuran, 2004. "Why the Middle East is Economically Underdeveloped: Historical Mechanisms of Institutional Stagnation," Journal of Economic Perspectives, American Economic Association, vol. 18(3), pages 71-90, Summer.
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    Cited by:

    1. Jean-Philippe Platteau, 2009. "Institutional Obstacles to African Economic Development: State, Ethnicity, and Custom," Post-Print hal-00726664, HAL.
    2. Metin Cosgel, 2012. "The Political Economy of Law and Economic Development in Islamic History," Working papers 2012-44, University of Connecticut, Department of Economics.

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