“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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
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:
Contact details of provider:
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)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kerwin Kofi Charles & Erik Hurst, 2003.
"The Correlation of Wealth across Generations,"
Journal of Political Economy,
University of Chicago Press, vol. 111(6), pages 1155-1182, December.
- B. Douglas Bernheim & Daniel M. Garrett & Dean M. Maki, 1997.
"Education and Saving: The Long-Term Effects of High School Financial Curriculum Mandates,"
97012, Stanford University, Department of Economics.
- Bernheim, B. Douglas & Garrett, Daniel M. & Maki, Dean M., 2001. "Education and saving:: The long-term effects of high school financial curriculum mandates," Journal of Public Economics, Elsevier, vol. 80(3), pages 435-465, June.
- B. Douglas Bernheim & Daniel M. Garrett & Dean M. Maki, 1997. "Education and Saving: The Long-Term Effects of High School Financial Curriculum Mandates," NBER Working Papers 6085, National Bureau of Economic Research, Inc.
- Paola Sapienza & Luigi Zingales & Luigi Guiso, 2006.
"Does Culture Affect Economic Outcomes?,"
NBER Working Papers
11999, National Bureau of Economic Research, Inc.
- Renneboog, L.D.R. & Spaenjers, C., 2009.
"Where Angels Fear to Trade: The Role of Religion in Household Finance,"
2009-018, Tilburg University, Tilburg Law and Economic Center.
- Renneboog, L.D.R. & Spaenjers, C., 2009. "Where Angels Fear to Trade: The Role of Religion in Household Finance," Discussion Paper 2009-34, Tilburg University, Center for Economic Research.
- Rosen, H.S.Harvey S. & Wu, Stephen, 2004.
"Portfolio choice and health status,"
Journal of Financial Economics,
Elsevier, vol. 72(3), pages 457-484, June.
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
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Wagner).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.