Institutional Analysis To Explain The Success Of Moroccan Microfinance Institutions

This paper looks at whether Morocco meets the usual criteria of a country where MFIs can succeed and what distinguishes Morocco from its North African neighbors (Algeria, Tunisia, Libya and Egypt) where a priori the culture is similar even though institutions may be different. The paper uses the similarities and differences of these five countries to identify cultural, institutional, economic and geographic factors which explain why Microfinance in particular and development in general arrives sooner in some environments than in others. The objective of the paper is to identify controllable institutional factors which can be introduced in regulation to enable Microfinance to succeed in a country.