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Religion, economic attitudes, and household finance

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  • Luc Renneboog
  • Christophe Spaenjers

Abstract

We investigate the differences in economic attitudes and financial decisions between religious and non-religious households. Using Dutch survey data, we find that religious households consider themselves more trusting, and have a stronger bequest motive and a longer planning horizon. Furthermore, Catholics attach more importance to thrift and are more risk averse, while Protestants combine a more external locus of control with a greater sense of financial responsibility. Religious households are more likely to save. Catholic households invest less frequently in the stock market. Economic attitudes are particularly helpful in explaining the financial decisions of Catholic households. Copyright 2012 Oxford University Press 2011 All rights reserved, Oxford University Press.

Suggested Citation

  • Luc Renneboog & Christophe Spaenjers, 2012. "Religion, economic attitudes, and household finance," Oxford Economic Papers, Oxford University Press, vol. 64(1), pages 103-127, January.
    • Handle: RePEc:oup:oxecpp:v:64:y:2012:i:1:p:103-127
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    File URL: http://hdl.handle.net/10.1093/oep/gpr025
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