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Values, Beliefs and Development

  • Jeffry Jacob


    (St. John’s University)

  • Thomas Osang



This paper investigates the consequences of religion for economic development. In particular, we examine whether religious attitudes, beliefs, participation and preference contribute to differences in per capita income across countries. Using a large scale international survey on values and religious behavior, we estimate both cross-section and panel data models, controlling for the “deep determinants” of development: Institutions, geography and trade. Our results indicate that religion plays an important role in economic development, but mostly in a non-linear manner. Countries with moderate religious values and behavior tend to have higher income levels than countries on both ends of the religious spectrum.

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Paper provided by Southern Methodist University, Department of Economics in its series Departmental Working Papers with number 0705.

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Length: 56 pages
Date of creation: Mar 2007
Date of revision:
Handle: RePEc:smu:ecowpa:705
Contact details of provider: Postal: Department of Economics, P.O. Box 750496, Southern Methodist University, Dallas, TX 75275-0496
Phone: 214-768-2715
Fax: 214-768-1821
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  1. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
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  8. Alastair R. Hall & Glenn D. Rudebusch & David W. Wilcox, 1994. "Judging instrument relevance in instrumental variables estimation," Finance and Economics Discussion Series 94-3, Board of Governors of the Federal Reserve System (U.S.).
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  10. Dollar, David & Kraay, Aart, 2003. "Institutions, trade, and growth : revisiting the evidence," Policy Research Working Paper Series 3004, The World Bank.
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  12. McCleary, Rachel & Barro, Robert, 2003. "Religion and Economic Growth across Countries," Scholarly Articles 3708464, Harvard University Department of Economics.
  13. DUFOUR, Jean-Marie, 2003. "Identification, Weak Instruments and Statistical Inference in Econometrics," Cahiers de recherche 10-2003, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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