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An Analysis Of The Correlation Between Social Religion And Economics Development

Author

Listed:
  • HUMERA OMER FAROOQ

    (Assistant Professor, College of Art & Design , University of the Punjab, PakistanAssistant Professor, College of Art & Design , University of the Punjab, Pakistan)

  • DR. SAEED UR RAHMAN

    (Visiting Lecturer, Department of Basic Science and Islamiat, University of Engineering and Technology Peshawar, Pakistan)

  • HAFSA KHAN

    (Department of Economics and Finance, International Islamic University Islamabad)

  • IQRA AKRAM

    (Clinical Psychologist, Department of Psychiatry, Sughra Shafi Medical Complex, Narowal)

  • MUHAMMAD QADEER ASHRAF

    (Institute of Agricultural and Resource Economic, University of Agriculture Faisalabad)

  • SHAHROZ RIASAT

    (Institute of Agricultural and Resource Economic, University of agriculture Faisalabad)

Abstract

This research investigates the intricate relationship between social religion and economic development across 50 diverse countries over a five-year period. Through comprehensive quantitative analysis we reveal significant correlations that shed light on the multifaceted dynamics at play. Notably we find a robust positive correlation between religious adherence and GDP per capita suggesting the potential economic benefits associated with religious participation. Additionally our study uncovers a moderate negative correlation between religious diversity and income inequality emphasizing the role of inclusivity and social cohesion in addressing economic disparities. Furthermore a positive correlation between religiosity and employment rates underscores the intriguing influence of religious values on labor market dynamics. Geographical and temporal analyses uncover regional variations and evolving correlations, underscoring the importance of contextual nuances. While our findings offer valuable insights it is essential to acknowledge the limitations of cross-sectional data and the need for further research to explore causal mechanisms. Overall this study contributes to a deeper understanding of the complex interplay between social religion and economic development providing a foundation for future investigations and policy considerations.

Suggested Citation

  • Humera Omer Farooq & Dr. Saeed Ur Rahman & Hafsa Khan & Iqra Akram & Muhammad Qadeer Ashraf & Shahroz Riasat, 2023. "An Analysis Of The Correlation Between Social Religion And Economics Development," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 12(2), pages 253-259.
    • Handle: RePEc:rfh:bbejor:v:12:y:2023:i:2:p:253-259
    DOI: https://zenodo.org/records/8375253
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    References listed on IDEAS

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    1. Pippa Norris & Ronald Inglehart, 2009. "Max Weber and the Protestant Work Ethic," Chapters, in: Jan Peil & Irene van Staveren (ed.), Handbook of Economics and Ethics, chapter 75, Edward Elgar Publishing.
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    3. Unbreen Qayyum & Sohail Anjum & Samina Sabir, 2020. "Religion and economic development: new insights," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 47(4), pages 793-834, November.
    4. Assad Ullah & Xinshun Zhao & Muhammad Abdul Kamal & Adeel Riaz & Bowen Zheng, 2021. "Exploring asymmetric relationship between Islamic banking development and economic growth in Pakistan: Fresh evidence from a non‐linear ARDL approach," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 6168-6187, October.
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