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Religious imperatives as a correlate of the development of human potential and the economic capital of society

Author

Listed:
  • Karpiak Maria

    (M. I. Dolishniy Institute of Regional Research of NAS of Ukraine)

  • Shparyk Khrystyna

    (Ukrainian Catholic University / Ukraiński Uniwersytet Katolicki)

Abstract
Subject and purpose of work: This article studies the role of religion in economic development. Even though it is obvious that religion plays a vital role in economic development because a healthy economy requires that all people view one another with dignity, there are still some questions which need to be answered like – why wealthier nations trend/tend to be less religious, and does economic development (as a matter of fact) cause individuals to become less religious in today’s world? Materials and methods: The research is based on universal methods of formal logic and scientific abstraction, basics of innovation science, investment science and institutional economics, systemic, structural-functional and synergetic approaches as well as information sources of the World Economic Forum. Results: The authors’ hypothesis about the influence of religion and religious values which stands behind rapid economic growth is shown to be substantiated. Conclusions: In conclusion, we can state that there is strong negative correlation between GDP per capita and the importance of religion in the state, but, on the other hand, in most societies religious values were the main push factor of economic growth.

Suggested Citation

  • Karpiak Maria & Shparyk Khrystyna, 2021. "Religious imperatives as a correlate of the development of human potential and the economic capital of society," Economic and Regional Studies / Studia Ekonomiczne i Regionalne, Sciendo, vol. 14(4), pages 465-474, December.
  • Handle: RePEc:vrs:ecoreg:v:14:y:2021:i:4:p:465-474:n:4
    DOI: 10.2478/ers-2021-0032
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    More about this item

    Keywords

    religion; economic development; protestant ethic; globalization;
    All these keywords.

    JEL classification:

    • F6 - International Economics - - Economic Impacts of Globalization
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • N3 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion

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