원문정보
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초록
영어
This study examines whether religion influences the financial development and structure of a country. In a sample of 46 countries between 1996 and 2015, we find that religiosity fosters financial development and a market-based financial structure, whereas religious hierarchy and moderate religious heterogeneity induce financial underdevelopment and a bank-based structure. Furthermore, these religious effects are more pronounced for countries with a weaker contractual environment, supporting the ameliorating role of social trust in a contractual environment. Overall, our study provides the first evidence that religion has a crucial impact on financial development and structure by affecting social trust. (JEL G10, G21, O16, Z12)
목차
Abstract
1. Introduction
2. Related Literature and Hypothesis Development
2.1 Religion and Determinants of Financial Development and Structure
2.2 The Mediating Role of Social Trust
2.3 Trust and the Contractual Environment
3. Data and Empirical Methods
3.1 Data and Variables Description
3.2 Empirical Methods
4. Empirical Results
4.1 The Effects of Religion on Financial Development and Structure
4.2. The Contractual Environment and Religious Effects on Financial Development and Structure
4.3 Robustness Checks
5. Concluding Remarks
Appendix A: Variable Definitions
References
1. Introduction
2. Related Literature and Hypothesis Development
2.1 Religion and Determinants of Financial Development and Structure
2.2 The Mediating Role of Social Trust
2.3 Trust and the Contractual Environment
3. Data and Empirical Methods
3.1 Data and Variables Description
3.2 Empirical Methods
4. Empirical Results
4.1 The Effects of Religion on Financial Development and Structure
4.2. The Contractual Environment and Religious Effects on Financial Development and Structure
4.3 Robustness Checks
5. Concluding Remarks
Appendix A: Variable Definitions
References
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자료제공 : 네이버학술정보