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Income and religion: a heterogeneous panel data analysis

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  • Tiago Neves Sequeira
  • Ricardo Viegas
  • Alexandra Ferreira-Lopes

Abstract

A recent empirical literature has addressed the relationship between income and religion, but most of the studies are based on microdata. Macroeconomic analysis of the issue has largely ignored the potential heterogeneity between countries. Using retrospective data on church attendance rates for a panel of countries between 1925 and 1990, we apply heterogeneous panel data estimators and reveal that the effect of participation in religious activities on income per capita is mostly non-significant. This is consistent with some of the recent research that casts doubt onto the influence of religion on income, once causality is taken into account.

Suggested Citation

  • Tiago Neves Sequeira & Ricardo Viegas & Alexandra Ferreira-Lopes, 2017. "Income and religion: a heterogeneous panel data analysis," Review of Social Economy, Taylor & Francis Journals, vol. 75(2), pages 139-158, April.
    • Handle: RePEc:taf:rsocec:v:75:y:2017:i:2:p:139-158
    DOI: 10.1080/00346764.2016.1195640
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    References listed on IDEAS

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    1. Dierk Herzer & Holger Strulik, 2017. "Religiosity and income: a panel cointegration and causality analysis," Applied Economics, Taylor & Francis Journals, vol. 49(30), pages 2922-2938, June.
    2. M. Hashem Pesaran, 2021. "General diagnostic tests for cross-sectional dependence in panels," Empirical Economics, Springer, vol. 60(1), pages 13-50, January.
    3. Chudik, Alexander & Pesaran, M. Hashem, 2015. "Common correlated effects estimation of heterogeneous dynamic panel data models with weakly exogenous regressors," Journal of Econometrics, Elsevier, vol. 188(2), pages 393-420.
    4. Thomas Barnebeck Andersen & Jeanet Bentzen & Carl-Johan Dalgaard & Paul Sharp, 2010. "Religious Orders and Growth through Cultural Change in Pre-Industrial England," DEGIT Conference Papers c015_036, DEGIT, Dynamics, Economic Growth, and International Trade.
    5. Anindya Banerjee & Josep Lluis Carrion-i-Silvestre, 2011. "Testing for Panel Cointegration Using Common Correlated Effects," Discussion Papers 11-16, Department of Economics, University of Birmingham.
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    Cited by:

    1. Emmanuel Amissah & Katarzyna Świerczyńska, 2021. "Is Religion a Determinant of Financial Development?," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 27(3), pages 233-247, August.

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