The Approach of the Major World Religions to Economics and Development

Muhsin Halis / Ayhan Hira / Ahmet Faruk Göksün

Abstract: Religion generally encompasses a set of shared beliefs and practices held by a group of people, as well as cultural traditions, history and mythology. Early economic writings treated religion as an exogenous factor. Later, various theories were put forward to explain the links between religion and development. The rational choice approach sees the flexibility of religion as a rational economic response to changes in the political and economic environment in which religions operate. In addition, approaches that include belief in family, social networks and other elements also determine the relationship between religion and the economy. Previous research on the determinants of economic growth has generally neglected the impact of religion. To fill this gap, it is noteworthy to examine the impact of religious practices and beliefs on economic growth from the perspective of religion on economic activity. The aim of this article is to shed light on the relationship between the state, religion and the economy based on the literature.

Keywords: Capitalism, Religion and economy, Religion and economy development, Islam and eco-nomy, Christianity and economy

Muhsin Halis / Ayhan Hira / Ahmet Faruk Göksün
DOI: 10.29224/insanveinsan.1363864
Year 11, Issue 37, Winter 2024


Tam metin / Full text
(Turkish)

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The Relationship between Economic Development and Human Development: An Empirical Analysis on Fragile Five Countries

Çağlar Ozan Gönüllü

Abstract: The concept of development, especially for developing countries, is too important a concept to be narrowed down to include only economic development. Recent literature have concluded that should be focused on human development for sustainable economic development. Determining the factors and relationships affecting development is important in terms of shedding light on the problems of countries that want to achieve sustainable development goal and suggesting solutions. In this study, the relations between two dimensions of development, economic development and human development, were examined. The dependent variables of the study, which covers 32 years between 1990 and 2021, representing human development are Life Expectancy (YS), Education Period (ES) and Gender Inequality Index (CEE). The variable representing economic development is Gross Domestic Product (GDP) per capita. After the data were subjected to homogeneity, cross-section dependence, and unit root tests, economic development-human development relations were investigated with the Westerlund Panel Cointegration Test. According to the test results, the relationship between YS and GDP is statistically insignificant, while the ES and CEE’s relationship with GDP is statistically significant at the 95% confidence interval (p<.05).

Keywords: Economic development, Human development, Fragile Five, UNDP, Westerlund Panel Cointegration Test

Çağlar Ozan Gönüllü
DOI: 10.29224/insanveinsan.1368996
Year 11, Issue 37, Winter 2024


Tam metin / Full text
(Turkish)

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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

Human Capital, Physical Capital, Economic Complexity, and Economic Growth Nexus in Türkiye: New Evidence from Bootstrap Fourier Granger Causality in Quantiles Approach

Tunahan Hacıimamoğlu / Oğuzhan Sungur

Abstract: Economic development is an important indicator demonstrating the increases in societies’ socioeconomic welfare levels. Countries need to advance in economic, social, cultural, and political domains in order to achieve economic development. From this aspect, Türkiye is far from having a developed country profile at this moment. Accordingly, the present study aims to assess Türkiye’s development issues. For this purpose, the effects of human capital, physical capital, and economic complexity index on economic growth in Türkiye are analyzed for the period 1970-2017 using the bootstrap Fourier Granger causality in quantiles (BFGC-Q) approach recently recommended by Cheng et al. (2021). The results of the analysis indicate that human capital, physical capital, and economic complexity index have a positive causal effect on economic growth. For sustainable development, Türkiye needs foreign capital investments in a stable economic model. Furthermore, it is recommended that Türkiye should pay importance to education, science, and technology at both theoretical and practical levels, and increase the value-added and technology level in exports by diversifying its high-tech product range.

Keywords: Human capital, Physical capital, Economic complexity, Economic development, Causality

Tunahan Hacıimamoğlu / Oğuzhan Sungur
DOI: 10.29224/insanveinsan.1189607
Year 11, Issue 37, Winter 2024


Tam metin / Full text
(Turkish)

52 Downloads


Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.