An empirical note on entrepreneurial activity, intrinsic religiosity and economic growth

Abstract

Purpose The purpose of this paper is to examine and test the relationship and interaction between “intrinsic” religiosity, entrepreneurial activity, and economic growth. Design/methodology/approach The paper selects 23 countries that are predominately Christian and examine the connection between country‐wide religious orientation, entrepreneurial activity, and economic growth. It specifically examines “intrinsic” religiosity, and defines entrepreneurial activity as either total start‐up entrepreneurial activity or opportunity‐based entrepreneurial activity. It is hypothesized that there is a direct relationship between religious attitudes and both economic growth and entrepreneurial activity, with entrepreneurial activity also acting as an intervening variable. The empirical relationship between “intrinsic” religiosity, entrepreneurial activity, and economic growth is then examined. Findings The findings suggest that while “intrinsic” religiosity is positively related to economic growth, the key relationship may be between “intrinsic” religiosity and entrepreneurial activity, with entrepreneurial activity then resulting in economic growth. Originality/value By examining the diverse literatures of economic development, entrepreneurship, theology, and the psychology of religion, this paper offers a unique analysis of religious attitudes and their impact on entrepreneurial activity and economic growth. Both the conceptual discussion and the empirical results extend previous studies examining cultural approaches to understanding economic growth.

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