Title: A review of the contextual factors associated with the North African business environment - descriptive historical study

Authors: Ali Abdullah Alnaas; Kieran James; Albert H.S. Scott

Addresses: School of Accounting, Economics & Finance, Faculty of Business and Law, University of Southern Queensland, Toowoomba QLD 4350, Australia ' School of Accounting, Economics & Finance, Faculty of Business and Law, University of Southern Queensland, Toowoomba QLD 4350, Australia ' School of Accounting, Economics & Finance, Faculty of Business and Law, University of Southern Queensland, Toowoomba QLD 4350, Australia

Abstract: This study compares the contextual factors (culture, political, legal, economic system, and stock exchanges) in three North Africa countries (Egypt, Morocco, and Tunisia). The contextual factors of these countries are very similar being Islamic culture and French law. These countries have similarities in their recent histories. They were occupied by European countries which resulted in English and French languages being spoken in this region. Dictatorial governments (regardless of the types of governments - socialist or otherwise) have also controlled these countries for considerable periods of time since independence. In line with international society, an openness policy has been adopted and many reforms have been made in the stock exchange of these countries. However, much work remains to be done. Although contextual factors are similar, each country is in a slightly different place today in regards to economic and capital markets' development. Policy-makers can learn from the experiences of these three NA countries as the obstacles and backgrounds of these three countries are similar. This is the first accounting paper of which we are aware that studies these three NA countries.

Keywords: accounting reforms; capital markets; Islamic culture; French law; Islam; economic systems; Egypt; legal systems; Morocco; North Africa; political systems; Tunisia; stock exchanges; economic development; market development.

DOI: 10.1504/AJAAF.2013.055483

African Journal of Accounting, Auditing and Finance, 2013 Vol.2 No.1, pp.9 - 26

Available online: 29 Jul 2013 *

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