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2008-15 Religion, social capital, and business bankruptcy in the United States, 1921-1932

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posted on 2023-08-05, 07:48 authored by Mary HansenMary Hansen, Bradley A. Hansen

We consider the value of social capital that derives from membership in a church. American states with larger churchgoing populations had lower business bankruptcy rates from 1921 to 1932, and states in which the churchgoing population was concentrated in few churches had business bankruptcy rates that were lower still. Both voluntary and involuntary bankruptcy were lower in states with higher church membership. The evidence suggests that church membership acted on bankruptcy through a safety net mechanism and not solely through indicating a preference for honoring commitment.

History

Publisher

American University (Washington, D.C.). Department of Economics

Language

English

Notes

Working Paper No. 2008-15. 35 pages.

Handle

http://hdl.handle.net/1961/5040

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