WASHINGTON (Reuters) — Economists searching for reasons why some nations are richer than others have found that those with a wide belief in hell are less corrupt and more prosperous, according to a report by the Federal Reserve Bank of St. Louis.Researchers at the regional Fed bank acknowledged the importance of productivity and investment in the economic process but looked at some recent unconventional efforts to explain differences in national prosperity.
The St. Louis Fed drew on work by outside economists who studied 35 countries, including the United States, European nations, Japan, India and Turkey, and found that religion shed some useful light.
"In countries where large percentages of the population believe in hell, there seems to be less corruption and a higher standard of living," the St. Louis Fed said in its July quarterly review.
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