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Religious attitudes and home bias: theory and evidence from a pilot study

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  • Martin Leroch
  • Carlo Reggiani
  • Gianpaolo Rossini
  • Eugenio Zucchelli

Abstract

This paper examines the relationship between religion and home bias. We propose a simple theoretical framework that suggests that countries interacting via their representative individuals might show a certain degree of religion-driven international altruism that in turn affects trade. We test these predictions exploiting data from a survey on religious attitudes and individuals' preferences over consumption of home-produced versus foreign goods that we designed and carried out in 15 different countries. We find evidence that religious openness and home bias are negatively correlated. This appears to provide some support to the hypothesis that religious openness, through trust and altruism, may have a pro-trade effect.

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Paper provided by Economics, The University of Manchester in its series The School of Economics Discussion Paper Series with number 1206.

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Date of creation: 2012
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Handle: RePEc:man:sespap:1206

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Web page: http://www.socialsciences.manchester.ac.uk/disciplines/economics/
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  1. Jeffrey Butler & Paola Giuliano & Luigi Guiso, 2009. "The Right Amount of Trust," Economics Working Papers ECO2009/33, European University Institute.
  2. Matthias Helble, 2007. "Is God Good for Trade?," Kyklos, Wiley Blackwell, vol. 60(3), pages 385-413, 08.
  3. Leeson, Peter T., 2005. "Endogenizing fractionalization," Journal of Institutional Economics, Cambridge University Press, vol. 1(01), pages 75-98, June.
  4. Robert J. Barro & Rachel M. Mccleary, 2005. "Which Countries Have State Religions?," The Quarterly Journal of Economics, MIT Press, vol. 120(4), pages 1331-1370, November.
  5. Karen K. Lewis, 1999. "Trying to Explain Home Bias in Equities and Consumption," Journal of Economic Literature, American Economic Association, vol. 37(2), pages 571-608, June.
  6. Susan K. Laury & Laura O. Taylor, 2006. "Altruism Spillovers: Are Behaviors in Context-Free Experiments Predictive of Altruism Toward a Naturally Occurring Public Good?," Experimental Economics Center Working Paper Series 2006-14, Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University.
  7. Chuah, Swee-Hoon & Hoffmann, Robert & Jones, Martin & Williams, Geoffrey, 2009. "An economic anatomy of culture: Attitudes and behaviour in inter- and intra-national ultimatum game experiments," Journal of Economic Psychology, Elsevier, vol. 30(5), pages 732-744, October.
  8. Alan G. Ahearne & William L. Griever & Francis E. Warnock, 2000. "Information costs and home bias: an analysis of U.S. holdings of foreign equities," International Finance Discussion Papers 691, Board of Governors of the Federal Reserve System (U.S.).
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  13. Robert B. Ekelund, Jr. & Robert F. Hebert & Robert D. Tollison, 2002. "An Economic Analysis of the Protestant Reformation," Journal of Political Economy, University of Chicago Press, vol. 110(3), pages 646-671, June.
  14. Forsythe Robert & Horowitz Joel L. & Savin N. E. & Sefton Martin, 1994. "Fairness in Simple Bargaining Experiments," Games and Economic Behavior, Elsevier, vol. 6(3), pages 347-369, May.
  15. Tiago Cavalcanti & Stephen Parente & Rui Zhao, 2007. "Religion in macroeconomics: a quantitative analysis of Weber’s thesis," Economic Theory, Springer, vol. 32(1), pages 105-123, July.
  16. McCallum, John, 1995. "National Borders Matter: Canada-U.S. Regional Trade Patterns," American Economic Review, American Economic Association, vol. 85(3), pages 615-23, June.
  17. Nordås, Hildegunn Kyvik, 2010. "Trade in goods and services: Two sides of the same coin?," Economic Modelling, Elsevier, vol. 27(2), pages 496-506, March.
  18. Daniel M. Hungerman, 2011. "Do Religious Proscriptions Matter? Evidence from a Theory-Based Test," NBER Working Papers 17375, National Bureau of Economic Research, Inc.
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