Why is religion important for economic development?

Religion can play a significant role in economic development by providing a moral framework and establishing norms of behavior that promote ethical business practices, social responsibility, and trust among individuals and institutions. Religions often promote notions of stewardship and community development, which encourage investment in physical and social infrastructure, as well as charitable work and mutual support networks. Additionally, religious organizations can serve as intermediaries and mobilize resources for the provision of essential services, such as healthcare, education, and disaster relief, particularly in marginalized and underdeveloped areas. Although there is no simple causal relationship between religion and economic growth, research suggests that high levels of religious participation and affiliation can positively affect individual and collective well-being, social capital, and economic outcomes.

This mind map was published on 28 May 2023 and has been viewed 100 times.