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

Andrianady Josué and Kanto Joviannah Andrianavony

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Religion; Economic Development; Madagascar; Human Capital; Governance; Informal Sector; Stochastic Modeling; DEOS (search for similar items in EconPapers)
JEL-codes: A1 C5 O1 Z1 Z12 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:124251

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