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Income and religion: a heterogeneous panel data analysis


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


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

    1. repec:taf:applec:v:49:y:2017:i:30:p:2922-2938 is not listed on IDEAS
    2. Pesaran, M.H., 2004. "‘General Diagnostic Tests for Cross Section Dependence in Panels’," Cambridge Working Papers in Economics 0435, Faculty of Economics, University of Cambridge.
    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. 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.
    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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