“Striving for Savings” – religion and individual economic behavior

Anja Klaubert ()
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Anja Klaubert: Institute of Economics, Leuphana University of Lüneburg, Germany

No 162, Working Paper Series in Economics from University of Lüneburg, Institute of Economics

Abstract: In the Neoclassical growth model the saving ratio and human capital might be seen as the most important factors fostering economic growth. At last since Weber [2005 (1904/05)] it seems clear, that religious beliefs and involvement shapes both social and economic human behavior. This paper tests the hypothesis whether religious belonging and believing influence a household’s economic decision-making in the USA, which was found to foster economic growth, namely the saving ratio at the individual level. Using data from the Panel Study of Income Dynamics (PSID), we find religious effects on saving. Regarding the decision to save money no large differences within the Christian religions, namely Protestants and Catholics, were found. However, large differences exist compared to non-religious people as well as to Non-Christians and Jews.

Keywords: growth; religion; individual saving behavior (search for similar items in EconPapers)
Pages: 27 pages
Date: 2010-01
New Economics Papers: this item is included in nep-evo and nep-soc
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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