How do Households Cope during Aggregate Shocks? Evidence from the 2009-2015 Oil Crisis in Nigeria

Animashaun, Jubril Olayinka; Wossink, Ada

doi:10.21203/rs.3.rs-2543115/v1

Cited by 1 publication

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“…Suppose religious intensity is linked to economic distress. In that case, this is a major worry for countries whose economies are subject to higher fluctuations and where the governments and markets are inefficiently organized (Animashaun and Wossink, 2020). These regions may be more susceptible to a resurgence in religious fundamentalism associated with the economic shocks from the pandemic (Norlen, 2020).…”

Section: Discussionmentioning

confidence: 99%

Contagious crowds and rational faithfuls: a club theory approach

Animashaun

2023

IJSE

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PurposeThis study investigates the observed resurgence in religious beliefs seen across many societies during the COVID-19 pandemic. Using the economic theory of religious clubs, the author models religious participation during the pandemic as a mechanism for alleviating the financial distress associated with the health distress from the pandemic.Design/methodology/approachUsing data from the COVID-19 National Longitudinal Phone Survey (NLPS) in Nigeria, the author investigates the economic motivation for religious intensity during the COVID-19 pandemic. To address endogeneity concerns, the author exploits geographic variables of temperature and longitudes as sources of COVID-19 risk.FindingsOverall, health distress stimulates religious intensity. Consistent with the economic theory of religious clubs, adverse health shocks stimulate financial distress, and the effect is stronger among religious participants. Similarly, people see God and not the government as a source of protection against COVID-19.Research limitations/implications The study’s model sees religious organizations as public goods providers, especially when governments and markets are inefficient.Practical implicationsThe study’s recommendations support an expanded role for religious networks in healthcare delivery and more public funding to attenuate the post-pandemic resurgence of social violence in economically distressed regions.Social implicationsDespite the research interest in the COVID-19 pandemic, the long-term implications, many of which relate to social behavior adjustments that cause individuals to identify more closely with their social group, need greater understanding. Suppose religious intensity is linked to economic distress. In that case, this is a major source of worry for countries whose economies are subject to higher fluctuations and where the governments and markets are inefficiently organized. These regions may be more susceptible to a resurgence in religious fundamentalism associated with the economic shocks from the pandemic. Consequently, these regions would require more public funding to attenuate the potential for costly activities like organized violence, suicide attacks and terrorist activities in the aftermath of the pandemic.Originality/valuePrompted by the observation of the increase in religious identity through religious intensity during the pandemic, the author contributes by developing theoretically-based hypotheses that are incentive-compatible to provide a rational justification for the observation. The author empirically validates the hypothesis by taking advantage of the COVID-19 National Survey in Nigeria by specifically using survey rounds 4 and 7 which have more comprehensive religious items included.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-11-2022-0719

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Section: Discussionmentioning

confidence: 99%

Contagious crowds and rational faithfuls: a club theory approach

Animashaun

2023

IJSE

View full text Add to dashboard Cite

show abstract

How do Households Cope during Aggregate Shocks? Evidence from the 2009-2015 Oil Crisis in Nigeria

Cited by 1 publication

References 51 publications

Contagious crowds and rational faithfuls: a club theory approach

Contagious crowds and rational faithfuls: a club theory approach

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