Study on why Muslim world lags behind

TORONTO, Canada – The 57 countries that form the Organization for Islamic Cooperation (OIC) account for 23% of world population, yet less than 11% of the world’s GDP. 

A study from the University of Toronto’s Rotman School of Management and the Saudi-based Madinah Institute for Leadership and Entrepreneurship compared Muslim countries with the rest of the world. The study showed that as a group the OIC countries:

* have average incomes which are less than half the world average;

* rank below global averages on institutional development, including voice and accountability, political stability, government effectiveness, regulatory quality, rule of law and control of corruption;

*  rank unfavorably on the ease of doing business;

* lag world averages on education, particularly among females;

* not only significantly lag developed markets on R&D efforts, but also lag other developing nations.

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