Do Countries Need Religion and Education Freedom to Achieve Prosperity?

Abstract

The goal of this study is to determine the link between educational and religious freedom and prosperity in 45 countries from 2009 to 2018. Using the GMM system, the researchers were able to analyze the data. They found that academic and religious freedom is associated with increased prosperity. The collaboration of religious and academic freedom is also positive, which indicates that the two factors can contribute to the increase in prosperity. The researchers introduced the term "government effectiveness" to describe the relationship between capital formation and economic prosperity. The researchers used trade openness and gross fixed capital formation as control variables. Although they have a positive impact on the overall economy, they are not able to provide a significant boost to the prosperity of low-income countries. Therefore, the researchers recommend that educational and religious freedom be included in the government's efforts to improve the economic prosperity of these countries.