“Striving for Savings” – religion and individual economic behavior
AbstractIn the Neoclassical growth model the saving ratio and human capital might be seen as the most important factors fostering economic growth. At last since Weber [2005 (1904/05)] it seems clear, that religious beliefs and involvement shapes both social and economic human behavior. This paper tests the hypothesis whether religious belonging and believing influence a household’s economic decision-making in the USA, which was found to foster economic growth, namely the saving ratio at the individual level. Using data from the Panel Study of Income Dynamics (PSID), we find religious effects on saving. Regarding the decision to save money no large differences within the Christian religions, namely Protestants and Catholics, were found. However, large differences exist compared to non-religious people as well as to Non-Christians and Jews.
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Bibliographic InfoPaper provided by University of Lüneburg, Institute of Economics in its series Working Paper Series in Economics with number 162.
Length: 27 pages
Date of creation: Jan 2010
Date of revision:
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Web page: http://leuphana.de/institute/ivwl.html
growth; religion; individual saving behavior;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-02-13 (All new papers)
- NEP-EVO-2010-02-13 (Evolutionary Economics)
- NEP-SOC-2010-02-13 (Social Norms & Social Capital)
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Savings and religion
by Economic Logician in Economic Logic on 2010-03-10 17:53:00
- Religion and Savings
by Liam Delaney in Geary Behaviour Centre on 2010-03-10 19:30:00
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