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Faith and growth: modeling the influence of religion on Madagascar’s economy with DEOS model

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  • Josué, ANDRIANADY
  • Andrianavony, Kanto Joviannah

Abstract

This paper rigorously examines the influence of religious beliefs on economic development in Madagascar by employing the DEOS (Dynamic Equilibrium of Observed Spirituality) model. Surpassing the inherent limitations of traditional DSGE approaches, the study integrates the spiritual dimension into mechanisms of human capital formation, the structuring of formal and informal sectors, and economic governance. Utilizing a dynamic framework enriched with stochastic shocks, our analysis demonstrates that religion is not merely a source of moral norms but acts as a powerful catalyst for institutional and economic transformation. The findings invite a re-evaluation of public policies to incorporate sociocultural variables essential for a holistic understanding of growth dynamics.

Suggested Citation

  • Josué, ANDRIANADY & Andrianavony, Kanto Joviannah, 2024. "Faith and growth: modeling the influence of religion on Madagascar’s economy with DEOS model," MPRA Paper 124251, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:124251
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    References listed on IDEAS

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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Religion; Economic Development; Madagascar; Human Capital; Governance; Informal Sector; Stochastic Modeling; DEOS;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • Z1 - Other Special Topics - - Cultural Economics
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion

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