The Strength of Belief: Empirical Research on the Influence of Religion on Economy―An Analysis Based on the Panel Data of Yangtze River Delta Region in China

In recent years, research on economic growth and development has paid more and more attention to the long-term influence of factors, like history and culture on productivity and national economy. It is very meaningful to study the role of religion in economic development as religion can affect value preference, human capital, and professional ethics. This paper uses the panel data of 25 cities in Yangtze River Delta region of China in 11 years (from 2004 to 2014) to study the influence of religious belief on economic growth. Research result shows that religion plays a positive role in promoting economic growth on the whole. In different religions, Christianity has a significant influence on economic growth. The conclusion is consistent in different regressions and has robustness. However, empirical research on other religions cannot come to a consistent and robust conclusion. Considering that China’s research is rare in this field, this paper provides a new perspective as an exploratory research.