Panin Lab

University of Louvain

Région wallonne (BE3) · Belgium

ERC-funded
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ERC Starting Grant · 2025

Invisible Hands of Gods: How Religion Improves Economic Decion-Making and Outcomes

Religion is big business in Africa. Religion is also poorly understood business. Almost 96% of Ghanaians agree with the statement “religion is important to my daily life”. They put their money where their mouths are. Expenditure surveys show that households spend 15-20% of their budgets on religious activities—more than is spent on clothes, school, or entertainment. What are they paying for? I hypothesize that individuals use Religion is big business in Africa. Religion is also poorly understood business. Almost 96% of Ghanaians agree with the statement “religion is important to my daily life”. They put their money where their mouths are. Expenditure surveys show that households spend…

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